Family Businesses are at the very core of the UK and South West’s economy. It is, therefore, no surprise that as the largest accountancy firm in…
As a proud Cornishman working for a firm who are fully engaged with the local business community, I am genuinely proud that next week we are hosting one of the events at which the Cornwall and Isles of Scilly Local Enterprise Partnership (CIOS LEP) look for input to aid the development of the Local Industrial Strategy for the region.
Before giving you more details of the event, I am aware from various discussions with business contacts that it may be useful to set up some background to the Local Industrial Strategy.
What is the Local Industrial Strategy?
In the words of the CIOS LEP website:
- “All Local Enterprise Partnerships are tasked with developing a Local Industrial Strategy which demonstrates how areas will raise productivity in the economy, in line with the Government’s national Industrial Strategy.
- They should set out a small number of clearly defined priorities for how cities, towns and rural areas will maximise their contribution to UK productivity, and allow areas to make the most of their distinctive strengths.
- They will promote the co-ordination of local economic policy and national funding streams, and be based on clear evidence. Local Industrial Strategies will inform Local Enterprise Partnerships’ approach to any future local growth funding deployed through them, and establish new ways of working between national and local government”
So, I see it as the LEPs identifying areas where they feel UK government and private sector funding can best be deployed for economic development, jobs and wages growth in their region. It would appear the UK government will be looking for the region’s to contribute to the national challenges and ambitions in the derivation of their Local Investment Strategies and specifically there is a requirement that the strategy helps to address the government’s four grand challenges:
- Growing the artificial intelligence and data driven economy
- A shift towards clean growth
- A world leader in the future of mobility
- Innovation in order to meet the needs of an ageing society
Where is the CIOS LEP at with our Local Industrial Strategy?
As I understand it, the CIOS LEP have begun drafting the Local Industrial Strategy, or at least a framework for the document, based on evidence collected. They are now looking for your engagement as they “consult on the draft to get feedback and critique from businesses and organisations which will then help shape the evolving strategy into a final document ready to be submitted early in 2020.”
Our event is one means of having your say
Next Tuesday (15 October) our breakfast briefing held in our Truro office will hear from CIOS LEP personnel, who will present from draft Local Industrial Strategy document/ framework before looking for feedback and other input from those in the business community in attendance. As I said, I am very proud that our firm is hosting such an event, in conjunction with Cornwall Business Partnership, and I very much look forward to hearing from both the CIOS LEP and the business community. As another organisation who is hosting a similar event has said: “These free consultation events are an important opportunity to influence how the future strategy develops and we would strongly recommend you get involved and have your say. The more small & medium sized enterprises (SME’s) that get involved at this stage, the more suitable the end strategy will be for the future needs of your organisation, as well as for Cornwall & the Isles of Scilly more broadly – please spread the word.”
If you are interested in attending our event, please book on via our event page.
If you are unable to attend, but want to get involved (and please do):
By Andrew James