Enterprise centre open for business
COLCHESTER Business Enterprise Agency (Colbea) has officially opened its new 14,000 sq ft North Colchester Business Centre.
The new facility, at 340 The Crescent on Colchester Business Park, provides 27 offices for small businesses on “easy in easy out” rental terms.
Tenants are supported in the development of their ventures through a variety of features, including a staffed reception area, and facilities within the centre also include training and meeting rooms.
The new centre, which represents an investment of �2.4million, is the second of its kind to be operated by Colbea.
Its original Central Colchester Business Centre, located in George Williams Way, provides offices for 36 businesses on similar terms and continues to operate.
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The new centre has been constructed with financial support from the East of England Development Agency while Colchester Borough Council has been responsible for managing the project, completed on time and to budget.
Since opening in December 2001, the Central Colchester centre has achieved average occupancy of above 90% and has provided space for a total of 105 tenants, past or present. Of these, just 15% have ceased trading, compared with a failure rate among small businesses across the region of 40%.
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Bob Baggalley, chief executive at Colbea, said that the model which had proved so successful at the Central Colchester centre was expected to prove equally effective at the new site.