Helping businesses weather the storm - London Borough of Barking ...

WE (WITH PARTNERS) WILL ELEMENTS RECOMMENDATION
Draft DEVELOPING A BUSINESS SURVEY ACTION PLAN Draft
RECOMMENDATION 1 RECOMMENDATION 2 RECOMMENDATION 3 RECOMMENDATION 4 RECOMMENDATION 5 RECOMMENDATION 6 RECOMMENDATION 7
ENSURING LOCAL KEEPING
RESPONDING TO THE GROWING THE ENCOURAGING DEALING WITH THE BUSINESSES BENEFIT TACKLING THE
BUSINESSES
RECESSION / BUSINESS ENTREPRENEURSHIP CRIME ISSUE/ FROM PUBLIC SKILLS ISSUE
INFORMED AND
REDUCING BUSINESS
BASE/IMPROVING
FROM DIVERSE
IMPROVING THE
PROCUREMENT
ENGAGED
COSTS
TRANSPORT
COMMUNITIES
BOROUGH’S IMAGE
(INCLUDING 2012)
• The increasing cost of goods such as
fuel is a major issue.
• The economic downturn appears to
be having an impact on local
businesses.
• Businesses want more help with
“managing costs and cash flow”.
• More advice is needed on the
financial benefits of environmental
sustainability or how businesses can
help to limit climate change.
• Work with the Carbon Trust,
Eureka and Global Action Plan to
help companies cut costs by being
greener.
• Assist setting up Business Link
Recession Busting Surgeries.
• Run periodic master classes on
reducing costs, budgeting, cash flow ,
taxation, energy saving and bad
debt.
• Investigate the options for
renewable energy reducing business
costs.
• Promote the new Solutions For
Business publication/product
solution coming out in 2010;
‘Understanding Finance for Business’.
• Meet with Banks to explore why
businesses have not been able to
access funds for investment.
• Actively market SME rate
abatement.
• Set up Recession & Anti‐Poverty
Taskforce.
• ELSBC LDA Access to Finance
Intensive Support programme.
• Start up support will continue to be
important.
• It is unlikely that local start‐ups
alone will significantly transform the
economic or social profile of the
Borough.
• Inward investment therefore still
needs to be encouraged.
• Transport and infrastructure
improvements needed to support
existing businesses and attract new
ones.
• Develop a strong, clear Economic
Development Vision taking account
of business views.
• ELSBC or HRMC to run master
classes for VAT registration and
business growth leading to VAT
registration.
• Work closely with the Inward
Investment Agency to set out an
offer to businesses.
• Develop two business centres.
• ELSBC and other Loan Funds.
• Sustainable Industries
Park/Institute for Sustainability.
• Evolutive database – knowing what
properties are on the market.
• New housing – new markets.
• Support East London Transit.
• Lobby for other Transport
improvements (DLR, Station
Improvements, Renwick Road
junction, Tube improvements,
Crossrail)
• Highway Investment Programme.
• People from minority groups play a
key role in the setting up of new
businesses, including ethnic
minorities, recent economic migrants,
and females.
• There is further untapped potential.
• There is scope to develop and target
support aimed at minority groups.
• There is scope for collaboration with
neighbours and pan‐London agencies
to help minority groups.
• Restarting Manufacturing Advice
Service (MAS)
• Muslim Loan Fund (ELSBC)
• Support setting up a Food Forum.
• Draw up a user‐friendly leaflet on
available grants, loans and business
support.
• Run master classes for marketing
and business planning.
• Look at Loan Funds generally and
how these can be accessed.
• ELSBC working in Jobcentres and
neighbourhoods.
• Targeted Marketing Campaigns.
• Dealing with crime is a particular
challenge.
• Businesses suffer from direct and
indirect crime such as anti‐social
behaviour.
• It impacts on the ability to attract
inward investment.
• It is a deterrent to new businesses.
• A two pronged approach may be
needed, with physical and social
initiatives.
• Local Shopping Parades need
improvement
• Industrial Estates need
improvement
• Encourage local businesses to club
together on security.
• Police addressing business network
meetings.
• Shopping parades improvement
£1m allocated.
• £400k identified for improvements
to River Road including addressing
security.
• Hold discussions with the Police on
how crime affecting businesses can
be addressed.
• Promote the use of Street
Wardens.
• Work with the PSB/Police.
• Support road improvement plans
through the Highway Investment
programme and via partners such as
LTGDC and Barking Riverside.
• Town Centre regeneration.
• Barking Riverside.
• Public procurement opportunities
are more important to businesses in
the recession.
• Businesses would like more
information about public contracts,
especially those relating to the
Olympics.
• Businesses would be willing to sign
up with business support
organisations.
• Publish awareness raising
leaflets/Case Studies.
• Follow up on those that want
support.
• Work through East London
Business Place.
• Help local businesses to produce
the documentation required to
tender for public contracts.
• Maximise the use local suppliers
through the following:
‐ S106 agreements
‐ Framework agreements
‐ Development Agreements
‐ Council Procurement
‐ Other public procurement.
• Business Directory to raise
awareness of Borough businesses.
• Local people have a low number of
qualifications.
• River Road and the A13 Industrial
Estates are areas where people have
a particularly low number of
qualifications.
• Local businesses seek skills rather
than qualifications.
• Govt. initiatives e.g. Train to Gain
could help with skills.
• Need bite‐sized training courses.
• Need to join up skills and business
support.
• Promote the role of Knowledge
Connect.
• Master classes on skills.
• Prospect Centre.
• Advanced Skills Centre.
• Use new industrial estate forums to
promote skills and training
opportunities.
• Bite size courses for Train to Gain
to avoid lengthy spells away from
work.
• Ensuring training relates to
business needs.
• Actively market free recruitment
service.
• Pathways to Employment
• Promote Apprenticeships.
• Use S106 agreements to maximise
local labour and training.
• Employer Accord.
COMMENTS WILL FEED INTO THE DEVELOPMENT OF A NEW ECONOMIC DEVELOPMENT STRATEGY AND ACTION PLAN FOR BARKING & DAGENHAM (INC MARKETING PLAN)
• Businesses want to know what is
going on in their area and the support
available.
• Regular engagement with business
support organisations would be
helpful.
• Relatively high awareness that local
business support organisations exist –
but there is less clarity about their
role and of the value of the support
provided.
• Clearer information is needed.
• Networks between local businesses
would be helpful.
• Feedback the results of the
business survey to respondents (49%
requested this service)
• Investigate new working hours for
the support groups to improve
accessibility.
• Consider dedicated Business
website.
• Keep businesses informed and
involved via:
‐ The News
‐ New Retail Forums
‐ Industrial Estate Forums
‐ Networking Events
‐ BDE Board
‐ BDE Newsletter
• Business Desk.
• Series of workshops to raise
awareness of the support available.
• Business Relationship Managers.
• Benefits for Business Network.
Key Black text: In place/to be enhanced Red text: New Initiative