Numbers Background

A scheme has recently been launched aimed at businesses in the South Yorkshire area, which will offer them the opportunity to get support from peers in growing their companies.

The project is called Peer Networks, with the Department for Business, Energy and Industrial Strategy (BEIS) handling its launch. The provision of the scheme is down to the Sheffield City Region Growth Hub, and it is set to be open to any local firms that have traded for a year or more, have a minimum of five members of staff and a minimum annual turnover of £100,000.

This project has arrived at a time when smaller firms in the area are in real need of help in bouncing back from the impact of the pandemic, which could make it crucial for the wider economy in South Yorkshire as well.

Those firms participating in the scheme will deploy the peer networks as help and advice forums to give them a better chance of dealing with issues affecting their business sectors. Bringing in a qualified business accountant from South Yorkshire is another way local firms can get this kind of support.

Speaking to the Yorkshire Press, James Muir from the Local Enterprise Partnership (LEP) said:

“Peer Networks are a great way for local SME business leaders to work collaboratively with others to find solutions to common business problems in a non-competitive environment.”

Muir added that the LEP was confident that it would boost the business community in the region and help it recover from the COVID-19 crisis.

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