Issue - meetings

To receive a briefing from Councillor Humphreys, Portfolio Holder for Business and the Economy, and to consider any issues that arise.

The Committee received a presentation from Councillor Mr E. Humphreys, Executive Member for Business and the Economy, regarding the Council’s work to support economic prosperity. This included an overview of a business activity trends in the borough, and the work of the business prosperity team in a number of activity areas, including:

·         The Economic Development Action Plan within the Council’s corporate plan.

·         Business start-up levels and survival rates. These were noted to be the best or amongst the best in the county, and generally positive compared to national levels.

·         Support for micro-businesses, including business support grants, learning lunches, an entrepreneurs’ academy and networking events.

·         Establishment of and work with business guilds in the borough to identify and address business needs and priorities.

·         Support for existing businesses, including a business news e-bulletin, online directory, networking events and promotion of local business awards.

·         The business leaders’ group, working with large employers to help them deliver social value, and developing education and recruitment within the local area.

·         Future work, including enhancing the local visitor economy, participation in the business rates retention pilot scheme, and continuing to work to improve the business five year survival rate and general economic growth in the area.

The committee considered and discussed the presentation. There were a number of questions and comments, relating to the following topics:

·         Engagement with large employers. It was identified that not all businesses had wished to participate in the business leaders’ group, but that those which did not had generally also been invited. It was identified that the group had chosen to limit itself to profit seeking entities to support a shared perspective on challenges and opportunities.

·         Business grants. It was identified that formally considered business grant applications followed an initial feedback and support process for potential applicants, and that the success rate of applications at this stage was therefore high. It was identified that the success rate of businesses receiving business grants was difficult to track, but that general indications suggested that it was significantly higher than average for the area, particularly among those who stayed in contact with the Council’s business channels.

·         Not for profit and community enterprises: It was identified that not for profit businesses and community enterprises were also able to apply for business grants, providing the met the general eligibility criteria. It was identified that such applications constituted a small proportion of those received, but that this was believed to be in proportion to the numbers of profit seeking and not for profit businesses in the area.

·         Engagement with colleges and schools. It was confirmed that the Council worked with both East Surrey and Nescot Colleges as part of its support for vocational and general further education across the borough. It was identified that the entrepreneurs’ academy format was best suited to adult participants, but that a number of other bodies provided enterprise engagement opportunities for schools.

·         Learning Lunches. It was identified that the learning lunches did not incur any direct cost for  ...  view the full minutes text for item 18