Business in Colchester appears to be strong at the moment. The Colchester Business Enterprise Agency is hoping to open a new £3 million business centre as its current centre is at full capacity.
There are currently 22 businesses operating in the North Colchester Business Centre on The Crescent (between Severalls Lane and Newcomen Way)and its other business centre, the Central Colchester Business Centre on George Williams Way off Magdelen Street is also almost full too.
The group is now in the process of developing plans for a new business centre. The new centre will either be on the south side of Colchester or in Tiptree.
Bob Baggalley, director of the Colchester Business Enterprise Agency explained that “halfway through the first year of operation, we were full. We have been full ever since, so now we need another centre.”
The centres provide local businesses with affordable office space and also provides networking opportunities. The contracts are flexible which means that new businesses can get office space without being tied into lengthy leases.
The Colchester Business Enterprise Agency need additional funds for the project to go ahead. Previously the government and the East of England Development Agency and Colchester Council all contributed to the project with a grant of £1.4 million between them.
The agency is confident that the economy will start to recover soon and that new businesses will be eager to fill the new office space.