The SETsquared Partnership, the global no.1 business incubation and start-up growth acceleration network, will contribute £26.9 billion to the UK economy by 2030, independent research undertaken by Warwick Economics and Development (WECD) has found.
Key findings from the report:
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- It is estimated that 965 businesses were supported by SETsquared between 2015 to 2017, with the partnership providing 3,645 business assists since 2002.
- The Gross Value Added contribution of supported businesses each year indicates that they have directly contributed a total of £5.8 billion to the UK economy between 2002-17.
- The level of employment supported by these businesses is estimated at 10,900 jobs in 2017. This is projected to rise to 22,200 by 2030.
- Projecting the forward impact of the programme, assuming the level of support continues at the current rate, supported companies could rise to 6,650 and contribute a further £12.4 billion to the economy between 2018-2030.
- Including an estimate of supply chain impacts of the businesses, the cumulated direct and indirect impacts on the UK economy are estimated to be £8.6 billion by 2017 and a further £18.3 billion by 2030.