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Mansfield leads way for new businesses

Posted onPosted on 24th Mar

Business leaders have hailed the ‘Mansfield Feel Good Factor’ after a report said the town was the best in England for new businesses.

The new chief executive of Mansfield BID, Jay Rowlinson (above), said: “The ‘Mansfield Feel Good Factor’ that is starting to be recognised and felt in and around the town after a long and difficult period of dealing with the pandemic is giving new businesses the confidence to start up.”

The School of Marketing study measured the number of new business start-ups in 2021 compared to the number closing down. Mansfield was second in the UK, behind Cardiff.

Jay said a lot of work was being done by business support organisations in Mansfield and throughout Nottinghamshire to support start-up businesses.

“New businesses need to be recognised for the support and assistance they require to give them the confidence to start up,” he added.

“There is much financial assistance coming to Mansfield — the Levelling Up Fund, the Town’s Fund and Severn Trent’s initiative to prevent flooding.

“This funding, paired with the Mansfield Town Centre Masterplan, will change the way the town presents itself in the future and how it will operate, which includes making the town an ideal place to work, shop and live in.

“These are very exciting and positive times for Mansfield after a long period of little growth or funding provided to it.”

Jay said business start-ups could look to Mansfield BID for support as well as Mansfield District Council’s regeneration scheme and the Business and Intellectual Property Centre.

The study analysed the latest ONS data that showed Mansfield had 625 new businesses in 2021, while 380 closed.

The 260 new businesses in the third quarter of 2021 was not only the highest post-pandemic statistic, but also the highest since 2017.

The Mayor of Mansfield, Andy Abrahams, said: “It is so inspiring that through the toughest of years small local businesses have shown that they have the belief that they can succeed and help regenerate the town.

“Even through these extremely financially challenging times, I am proud that we have been able to assist with start-up grants, finding premises and giving help and advice to get through the first year.

“We are confident we can build on this success by committing another £20,000 in this year’s budget to assist more start-up businesses, bringing the total investment in our economic stimulus fund for 2022/23 to £100,000.

“This positive story is part of the journey and bodes well for the future.”