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Banks Mill

Business Startup

Banks Mill
Description and aims

Banks Mill aims to provide training, support and studios for new businesses within creative industries.

It was set up to retain graduate level skills in the creative industries in the Derby area and support the development of new businesses with a view to helping people earn a living from those skills, either as sole traders or businesses. This is achieved by providing easy-in/easy-out workspace in studios as well as business and professional development support.

For 2009/10 year 1 incubation fees are from £9.57 per sq ft. A 65 sq ft unit works out at £58.93 per month (including electricity) and a 248 sq ft studio £197.75 per month. All rentals include water, serviced communal areas, business rates, use of exhibition space, an individual web profile, support activities and being part of a thriving creative community. The only additional cost is electricity for the larger units.

About Banks Mill

Banks Mill is owned and managed by the University of Derby and is one of three business incubators located in Derby. Each incubator actively encourages and supports emerging businesses, with Banks Mill Studios specialising in support for creative industries, such as arts, design and/or crafts. As well as providing workspace, the University of Derby provides business support activity including one-to-one advice, workshops, seminars and bi-annual Open Studios.

The University operates a similar incubator for graduates at Network House in Derby. Network House specialises in support for creative businesses such as ICT, new media and design led businesses.

How the project is being undertaken

After accidentally leaving a book out in the rain whilst at university, Hannah Lobley developed ‘Paperwork’ a recycling technique using the printed pages of unwanted books and paper. Hannah uses the material to make interior products and artists’ commissions and after leaving university she decided she wanted to start her own business.

Having spent a year working from her dad’s shed Hannah learned about Banks Mill through a friend. She made an appointment to visit the studios and found the services to be exactly what she needed.

Banks Mill offers a variety of studios from 65 sq ft to 315 sq ft. and Hannah was able to choose a studio that fitted her needs perfectly. The rental costs are subsidised by the University of Derby to give fledgling businesses a chance of success, just what Hannah needed.

Hannah fully utilises the support services offered by Banks Mill, regularly meeting with the centre’s development worker and dedicated business advisor. Banks Mill has a strong, creative community and Hannah has found the networking and support opportunities invaluable.

Images of Hannah at work within Banks Mill Studios are available to view on the newly built Paperwork website.

Impacts and benefits

Being a tenant at Banks Mill brings free membership of EMIN (East Midlands Incubation Network) providing access to training, networking events and business expertise. Hannah attended numerous workshops to get her business off the ground ranging from sales and marketing techniques to accounting and tax legislation. Open Studios events are held twice a year; offering Hannah the opportunity to showcase and sell her products.

The services available enable individuals to minimise their start up costs whilst receiving professional support allowing them to concentrate on developing their businesses.

Hannah has been at Banks Mill for 3 years and her business has gone from strength to strength: her products were showcased by the Crafts Council at the Victoria and Albert Museum shop and Paperwork is now on sale in Liberty’s in London. She was a finalist for the ‘Most Innovative Business Award’ at the East Midlands Women of Worth Awards in 2008, she has received commissions from the Laketown Shopping Centre in Tokyo and exhibits internationally with shows in Tokyo, Paris and Germany during 2009.

For more information about the project

For more information please contact Louise Jones or Karen Holland
Telephone: 01332 594170
E-mail: .(JavaScript must be enabled to view this email address)

University

University of Derby

Academic Lead

University of Derby Corporate

Contact

Louise Jones or Karen Holland

01332 594170

Website

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