South London Local Enterprise Partnership

Briefing for Businesses

The Government has invited partnerships of businesses and local authorities to set up Local Enterprise Partnerships (LEPs). The idea is to give greater say over economic development to local businesses leaders and councils. This is part of the new Government’s drive to boost the private sector as the route to economic recovery.

What is in it for businesses?

The role of the LEP is to take a long term view of business growth in South London. However, businesses can expect to see positive changes in the following areas:

- A planning environment more favourable to businesses, and some smoothing out of differences between local authority areas in the way they treat business issues

- Stronger business representation on issues such as transport which affect all businesses in South London

- Business support services that are more geared to business needs and the types of businesses we have in South London,  and which are increasingly provided by businesses organisations and the private sector

- Better support for start-up businesses

- Stronger links between business, further and higher education and other training providers

- Stronger business voice pressing for changes on business issues such as transport and infrastructure

This is a chance for businesses in South London to take the lead in determining what it will be like to set up and run a business in South London.

Getting involved

The business organisations in South London will be seeking the views of businesses throughout September and October. You can have your say through your local chamber of commerce, South London Business, trade body or go to the website by clicking on the following link: http://vovici.com/wsb.dll/s/167e4g46e45

When the LEP is up and running businesses will be able to input their views directly or through their trade and membership organisations.

The challenge

South London has a diverse business base, a highly talented workforce, good skills and education infrastructure and capacity for growth. There is massive potential which could help accelerate London and the South East’s economic recovery through rapid business growth. South London LEP intends to unlock that potential, boosting private sector business growth and employment.

The proposed vision is for a South London economy which is growing strongly, providing a full contribution to the London and South East region economies and which is diverse and sustainable.

Private sector investment and business growth will be the driver of the economy. Flowing from the vision, there is just one proposed strategic aim:

To stimulate growth in the private sector and produce 120,000 new jobs by 2031.

To achieve this, the proposed strategic priorities are:

1. Supporting, promoting and facilitating the development of a number of inter-linked town and employment centres. These centres will be the locations where most of the new jobs will be created.
2. Working with TfL and others to secure investment in the transport infrastructure.
3. Maintaining the level of new business formation at the regional level as a minimum and spreading enterprise culture to all young people and disadvantaged communities.
4. Stimulating private sector business growth and increasing productivity through innovation and sectoral support
5. Improving skill levels across the whole population and enlarged work force.
6. Reducing the impact on the environment and supporting the change to a carbon free economy.

Our Goals

• Employment growth of  120,000 by 2031
• Increase business formation to 10,000 new businesses per annum
• GVA per head at the same level as the Outer London average and the South East region
• A reduced rate of decline in manufacturing and production jobs
• Peg public sector jobs at 25% while helping to decentralise public employment from central London.

What will happen next?

The Government will respond to the initial proposal by the end of September and, together with the Mayor, are expected to issue further guidance in October. Depending on that guidance and local decisions the LEP may be in place in outline by April 2011. It is not clear what, if any, government funding will be available to LEPs.

Where to get more information

To read the South London LEP Outline Proposal Click Here

To read the Letter to Secretaries of State Click Here

If you would like to know more please contact:

South London Business – Peter Pledger:  Peter.Pledger@southlondonbusiness.co.uk
Merton Chamber of Commerce – Diana Sterck:  diana.sterck@mertonchamber.co.uk