The British Library has published new findings on
the national impact of the Business & IP Centre (BIPC) Network between
April 2020 and March 2023.
Published today, Democratising
Entrepreneurship 2.0 reveals the national impact the
Business & IP Centre (BIPC) Network has had over a three year period. It
shows how the British Library has continued to democratise entrepreneurship and
support economic recovery at local, regional and national levels across the UK.
Between April 2020 and March 2023, the BIPC Network:
· delivered excellent value for money with a benefit
cost ratio (BCR) of £6.63 for every £1 invested
· helped to create 18,175 new businesses,
equivalent to 24 new businesses every working day
· facilitated new and established businesses to
create an estimated total of 6,124 full-time equivalent (FTE) jobs
· increased turnover with an estimated net additional sales
growth of £239 million
· boosted local economies with an estimated net
additional gross value added (GVA) of £168 million
· supported 62,876 individuals and
responded to 51,591 enquiries, providing aspiring entrepreneurs and
established business owners with key information
Of those who started a new business between April
2020 and March 2023, 72% were women, 26% identified themselves as from a
minority ethnic community and 12% were from the most deprived areas in the UK.
The highest proportion (26%) of businesses supported by the BIPC were in the
Creative, Media and Technology sectors, which is twice as high as the
proportion of businesses in the UK as a whole, where these sectors make up just
11%.
Arts and Heritage Minister Lord Parkinson of
Whitley Bay said: ‘I am delighted that the £13 million of public investment
from the Government has enabled the British Library’s Business & IP Centre
network to equip thousands of people across the country with the knowledge,
skills and support they need to start and grow their own business.
‘Helping people turn ideas into thriving businesses
is part of our ambitious plan to maximise the potential of the creative
industries and create jobs, opportunities and economic growth across the
county.’
The first BIPC opened at the British Library in St
Pancras, London in 2006 and the nationwide BIPC Network was established in 2012,
with support from the Intellectual Property Office. Following a £13 million investment from the
Department for Culture, Media and Sport in 2020, the BIPC Network expanded to
over 100 locations, reaching people who are under-represented in business in
more urban, rural and coastal locations than ever before.
Isabel Oswell, Head of Business Audiences at the
British Library, said: 'This month marks 50 years since the British Library
first began operations and helping businesses to innovate and grow continues to
be one of the Library’s core purposes. This report reiterates the unique power
of libraries as engines of innovation, economic growth and social mobility in
the heart of diverse communities. Whether you consider yourself an
entrepreneur, freelancer or just have an idea, the Business & IP Centre
Network provides accessible, free and impartial support, delivered by
The BIPCs are physical hubs where people can learn,
network and access free and low-cost information and support in protecting and
commercialising a business idea. The service comprises:
· Free access to high-quality UK and global market
intelligence, customer insights and company data (worth over £5m), combined
with intellectual property advice and guidance
· Free and low cost workshops, one-to-one support and
mentoring delivered by library staff and public/private sector business experts
and partners
· Topical and inspirational networking events,
featuring role model entrepreneurs
· Accessible and welcoming spaces with access to PCs,
desks and Wi-Fi, plus co-working and maker spaces in some locations
· A comprehensive package of online support;
including webinars, one-to-one business and IP advice sessions and screenings
of our programme of inspirational panel discussions
With the help of BIPC
Nottinghamshire, Natalee Onyeche, founder of Skin Solace, turned her handmade
plant-based skincare business from a side job into her main income stream and
opened a shop in Nottingham. Onyeche said: ‘The BIPC in the local area has been
really brilliant. It’s an invaluable resource because you look at the charges
for business coaches etc, and sometimes it’s beyond your reach. Having the BIPC
there and their huge amount of resources has been a godsend to me. If I need
some information, I can go to them and get that support. Having that available,
for free, in my local community is brilliant. It’s on my doorstep, literally.’
The full Democratising Entrepreneurship
2.0 report, including a range of case studies, can be downloaded from
the Library’s website
