To receive a briefing from Councillor Humphreys, Portfolio Holder for Business and the Economy, and to consider any issues that arise.
Minutes:
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 attendees, and that the direct cost for the Council was very low.
· Start-up trends. Start-up businesses in the area were identified to cover a diverse range of fields, although it was identified that a number of entrepreneurs had experience of working in London businesses. It was identified that there had been a number of success stories which were now providing employment for local people.
· Public awareness. Awareness of the Council’s economic development activities was considered to be good amongst the business community in the borough and surrounding areas, with positive feedback received directly and via social media. It was identified that the Council also liaised with educational institutions and voluntary sector networks in the area around related activities and opportunities for engagement with businesses and support.
· Attracting large businesses. It was confirmed that the Council undertook a number of actions to make the local area attractive to businesses, including making information available to employers and employees, supporting site visits, and coordinating other organisations, including the department of international trade. It was noted that the Council had hosted an international trade delegation in 2015. It was identified that there were currently a limited number of large employment sites available in the borough, although there was the potential for additional provision to be developed in future.
· Support around business closures/departures. It was identified that the Council would often have limited capacity to influence the decisions of large employers around closures or relocation of operations in the area, but that it did seek to offer support for local individuals affected by such closures to obtain places with other local business requiring their skills.
The Committee thanked the Executive Member and supporting officers for the presentation, and expressed their appreciation for the work of economic prosperity team.
RESOLVED that the portfolio holder briefing from Cllr Mr E. Humphreys, Executive Member for Business and the Economy, be noted.