The Love Local Hub in Centre:MK which provides free space for small businesses has seen a turnover of almost £300,000 since MK Council invested £35,000 in the project just a year ago.
The Hub gives local entrepreneurs a free temporary space to showcase their products and build their brand name. Along with the space, 100 entrepreneurs have enrolled onto business development bootcamps to develop their skills as part of the Hub’s offer. The unique course covers everything from goal setting, profit and loss, cashflow, pricing and creating a 12 month business plan to help them grow their business beyond the course.
The Council decided to invest in the Love Local Hub to support small businesses who had been affected by the pandemic as part of its £3.1m Covid Economic Recovery Plan.
Since the initial funding, MK Council has invested a further £55,000 in the Hub to provide mentoring, support and more start-up spaces. The small businesses can attend drop in sessions to speak with an expert and get real time support to help run their business.
The Love Local Hub has also expanded to Watford and has made a total turnover of £469,000, with almost £300,000 coming directly from MK.
Last year the Hub was named ‘Best Enterprising Business’ in the MK and Buckinghamshire SME Awards.
“The Love Local Hub is a great success story that’s given local entrepreneurs the opportunity to flourish during these uncertain times. It gives them a leg up and the confidence to be ambitious and help grow our economy as we manage a fair and balanced recovery from the pandemic.
“If you’re a small business owner that needs help, please do get in touch to see how the Love Local Hub can support you.”
- Deputy Leader of MK Council, Cllr Robin Bradburn
“Watching Love Local go from one store in Milton Keynes to two shops in fantastic shopping centres has been incredible. As well as mentoring 100 small businesses and helping them restructure their business with a 12-month plan, and seeing their success has been incredible. Sadly, we have seen some businesses close or fail, but we have been there to support them, and some are now developing better business ideas based on the same strategy, which is why this training is so vital.
“After going through the pricing practical session, Paula at Suds has been a real success story for us, and she now has a much better understanding of pricing and how it can transform her profit. We can't thank Milton Keynes council enough for their support in making this possible.”
- Sam Poole, Co-Founder of Love Local & Incubation Nation
Any small business owners interested to learn more about the Hub should contact: Niki @ firstname.lastname@example.org