Issue - meetings

To receive an update in respect of the Business Incubator in Sunbury-on-Thames.

The Committee received a report on the SBC Business Incubator situated at Hanworth Road, Sunbury-on-Thames.  The owner of Co-Tribe, the company running the Business Incubator, attended to answer questions.  The Committee noted that not all of the KPIs had been achieved, largely due to Covid-19 and renovations to the building which had affected lettings. 

The Committee noted a more positive outlook now that the building was fully operational.  Marketing had commenced and the current position showed most of the offices had been let and several customers were renting hot desks.  The concept was not-for-profit and for the centre to aid the growth of small businesses in the community by providing additional evening sessions, one-to-one business support and networking events.

The Committee noted a funding commitment from Shepperton Studios for the next five years.

Alternative options considered and not agreed were inviting the Economic Development Team or another company to run the centre.

Councillors were invited to visit the Business Incubator.

The Committee resolved to agree the preferred option to maintain the current arrangement, and review again at the Committee Meeting to be held on 15 June 2023 (provisional date).