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North East LEP ONS Regional Labour Market statistics reaction

North East Local Enterprise Partnership (LEP) Senior Economist Victoria Sutherland gives her reaction to today’s Regional Labour Market statistics.

“Today’s statistics are positive for the North East.

“Employment in the region has increased by 17,000 over the past quarter and by 28,000 over the year. And while unemployment levels have remained steady over the quarter, they have reduced over the year, with 7,000 fewer people unemployed than a year ago.

“Over the last quarter and year, the North East has seen the greatest improvement in the proportion of its population aged 16 to 64 that are in employment of all the regions and nations in the UK. The region has also seen the largest increase in its economic activity rate, suggesting that increasing employment opportunities in the North East are bringing more people into the labour market.

“These improvements also mean the gap is closing between the North East and elsewhere, a key objective of the North East Strategic Economic Plan.

“The increase of 28,000 more people in work reflects the hard work and ambition of businesses in the region.

“However, whilst the region has made significant progress, levels of unemployment in the North East are still among the highest of the UK regions.

“The North East Strategic Economic Plan sets out a range of actions that aim to deliver more and better jobs for the region and to support residents to access these. Given that we are entering a period of economic uncertainty, the North East LEP will continue to work with partners to help businesses scale and to create more and better jobs.”

 

Ends.

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In conversation with Professor Alan Lowdon: Looking Out for Services Innovation

Innovation is a multi-faceted beast. It creeps up on you and takes you by surprise at times.

Take for example, ‘services innovation’, which is something I have started to look out for on my travels. Consuming a service is an interesting concept as it can be very intangible and very emotional at the same time, especially when it goes wrong. So, when someone or an organisation does something different to enhance the customer experience, it tends to stand out. This is especially the case in the biggest and most expensive service that I personally consume – air travel. I travel to the US very frequently and have stood by BA for all of my 25 years of business travelling, only occasionally taking in another carrier out of either necessity (if a route is not covered) or idle curiosity in the case of new entrants.

In the early 2000’s, BA was generally accepted as the world’s most innovative airline as it pioneered ‘flat-bed’ business class seats and introduced ‘premium economy’ to provide the affordable link between economy and business class travel. These physical manifestations of innovation were also met by an equivalent approach to customer service. Nothing lasts forever and from the late 2000’s to the mid 2010’s BA saw its ground gobbled up by Gulf-based and SE Asia-based airlines able to compete on price and, increasingly, service.

Coupled with restructuring issues driven by a merger, the airline dropped down the services league table. However, I stuck with it and it is small-scale, high-impact services innovation which is gradually turning things around and which is extremely gratifying to see. A couple of linked examples:

1. The daily 20:00 flight from Boston (BOS) to Heathrow (LHR) is a favourite of mine which used to be classed as a standard service but which has now been re-classified as a ‘sleeper service’ and which offers customers the opportunity of dining before boarding in order to maximise sleeping time on the 6-hour duration flight. Sleep, on a route this short with a 5-hour time difference, is important to customers.

2. The above is further reinforced by example two which is a card one completes to say what type of ‘awakening’ one wishes to experience – 1 hr 15 mins for the full breakfast service, 50 minutes for a cup of tea or coffee only or 40 minutes for nothing – the minimum – before landing. For many, the 35 minutes difference is worth sacrificing breakfast and a cuppa.

These changes may seem simple but they are ones which have met with significant approval from customers who recognise that BA has identified the fact that a trans-Atlantic flight of 6 hours is far from ideal sleep-wise, and has re-orientated its service model to suit. The company has identified a ‘pain’ point and done something to alleviate it. This is clearly small-scale innovation with maximum impact, enhancing customer service in the process. Maybe BA is starting to rise up the ranks of services innovation again? I hope so as it is a great company. Maybe the title of, ‘the world’s favourite airline’ is just around the corner? Again, I hope so.

I’ve ticked my 50 minutes box and I’m closing down for the night – as short as it is – on tonight’s BA 202 ‘pond hopper’ from BOS to LHR then onwards to NCL! Good night and I hope my bag makes it!

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In conversation with Chas Howes, former CFO of Superdry

On Thursday we welcome Chas Howes to the North East to be the keynote speaker at the next Growth Hub Live event, Taking Leadership to the Next Level.

Chas is the former CFO of global clothing brand Superdry, joining in 2007 and overseeing a growth in turnover from £41m to £341m. He chaired the project team responsible for listing the business on the London Stock Exchange in March 2010, winning ‘IPO of the Year’ in 2010 and achieving FTSE250 status within one year.

Here, Chas shares some advice for growing businesses here in the North East. To hear more, book a free place at Growth Hub Live: Taking Leadership to the Next Level.

What’s the most memorable moment of your time with Superdry?

Sitting in the London Stock Exchange to see the first trade when we listed. It was at £4.99 against a flotation price of £5.00 – from there the share price went North for about a year, with us ending up as a FTSE250 company. It was the culmination of my career and the result of a lifetime of work – not many CFOs get the chance to list on the LSE, and I won’t get another one!!

What qualities do you think a person, or a team, needs to lead a growing business?

Those who can make decisions in ambiguous circumstances will be the most successful. If it isn’t a contradiction in terms, I’d say make decisions on fact or knowledge-based intuition and also don’t interfere – trust others to do their job. Have respect for other members of the business or team and be prepared to muck in. Provide air-cover for your employees, particularly those that work for you. Recruit, reward and retain the best, think clearly under pressure, and plan and anticipate for things to go wrong – it’s how you recover that matters.

What are some of the most common challenges faced by companies as they grow?

Too much to do and not enough resource of the right quality or quantity. There can be a lack of focus on what is really important – choose the few initiatives that will make a difference and do them really well. Another danger is to be always chasing new business and forgetting the infrastructure back in the office – it is more exciting doing a new deal that implementing a new IT system!

Do the same challenges apply to businesses operating in different sectors?

On balance yes, but they may take a different form depending on the industry – financial services vs retail for example. When growing, the scarcest resource is cash so, whatever the sector, make sure it is really well managed by experts and look for opportunities to generate more cash – e.g, liquidating old stock or leveraging the supply chain / cash cycle.

If you could offer one piece of advice to someone who wants to grow their business, what would that be?

Don’t forget the infrastructure – systems, people, facilities, controls, and particularly IT.

How can companies learn from success stories like that of Superdry?

Everything you do must be with the brand in mind. If an entrepreneur confuses personal and professional objectives, decision making will be flawed.
Don’t be afraid to surround yourself with good people to improve business performance and fill personal skill gaps with the exceptional.
Have the strength of your convictions and never give up – keep the energy and positivity going no matter what the environment throws at you.

Growth Hub Live – Taking Leadership to the Next Level is on Thursday 7 December, 8.30am to 12.30pm. Find out more and book a free place.

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North East LEP welcomes Careers Strategy and celebrates Gatsby Career Benchmarks success

The North East Local Enterprise Partnership (LEP) has today welcomed the news that the Government’s new Careers Strategy will centre around the eight Gatsby Good Career Guidance Benchmarks piloted here in the North East.

In September 2015, sixteen schools and colleges within the North East LEP area became the first in the UK to test the benchmarks, designed to equip the next generation with the skills needed by employers.

Within a year the North East LEP’s groundbreaking work in rolling out this pilot had attracted national acclaim.

Andrew Hodgson, chair of the North East LEP, said: “Good career guidance is crucial for social mobility.  We are delighted to see the Good Career Guidance Benchmarks front and centre of the Government’s national careers strategy.

“After piloting this approach in the North East over the past two years, and with over 100 schools now working to achieve the Benchmarks, we are seeing the hugely positive impact they can make to each and every pupil in schools and colleges.”

Michelle Rainbow, Skills Director for the North East LEP said: “I’d like to thank Gatsby for trusting in us to deliver the pilot and for recognising the North East LEP’s ability to influence national education policy.

“I’d also like to thank those schools and colleges who were initially involved through the pilot and to those who have since shown their support by signing up. The scale of the project has been critical in demonstrating the transformative power of the eight Gatsby benchmarks.

“Finally it’s important to recognise the team at the North East LEP who have worked tirelessly to roll out this initiative. Through our collaborative approach we have been able to demonstrate the resounding success of the Gatsby Good Career Guidance Benchmarks on a national level and showcase the excellent practice taking place here in the region.”

The Careers Strategy is backed by £4m of funding and includes a dedicated careers leader in all schools and colleges in the country to ensure people have access to the best careers support, giving them the best possible start to their professional life.

Sir John Holman, senior advisor to the Gatsby Foundation and author of the Gatsby Career Benchmark report, said: “Good Career Guidance is the key to social mobility. For young people coming from a background of low socioeconomic aspirations, school career guidance is their best hope of charting the way to a rewarding future career.

“We now know, from our international study and from the work of career guidance experts, what makes for good career guidance: it is described by the eight Gatsby benchmarks which have been shown by the pilot in the North East of England to have such a powerful positive effect in schools and colleges.

“I am very pleased that the Department for Education has put these benchmarks at the heart of its strategy.”

The North East LEP’s national facilitator for the Career Benchmarks Pilot, Ryan Gibson, said: “Since the North East became the first UK region to pilot the Good Career Guidance Benchmarks, the approach has proved to be transformational for careers guidance in our schools and colleges.

“At the pilot’s start, no UK school was achieving more than five benchmarks and 50% of schools and colleges in this region weren’t achieving any at all. Now 88% of our schools and colleges are achieving six to eight, with every single one achieving a minimum of four – the benchmarks are a vital part of our plan to ensure that every young person in the North East can make a successful transition into their future career.”

More information on the new Careers Strategy can be found here: https://www.gov.uk/government/news/careers-guidance-for-modern-country-unveiled.

Details of the eight Gatsby Career Benchmarks can be found here: www.goodcareerguidance.org.uk

For more information about the North East LEP’s Skills programme, please visit www.nelep.co.uk.

 

ENDS

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Sunderland plans £5m National Centre for Imagination

Project chosen by North East LEP from bids across the region to go forward for funding from the new £5m Northern Cultural Regeneration Fund (NCRF).

An ambitious bid has been launched to establish a new flagship cultural attraction in Sunderland following a call out to LEPs across the north of England from the �15m Northern Cultural Regeneration Fund.

The Wearside-based ‘National Centre for Imagination’ (NCI) was chosen from a strong pool of funding bids that came through to the North East LEP and aims to focus on young people’s creativity and imagination.

If successful the Centre will also include an institute of performing arts.

Andrew Hodgson, Chair of the North East LEP, said: “We received a very impressive set of bids to put forward for potential funding from the Northern Cultural Regeneration Fund.

“The entries we received clearly demonstrated the scale and ambition of emerging cultural projects right across the North East. The National Centre for Imagination particularly demonstrated a strong fit with the criteria set out by DCMS to create a lasting legacy of cultural regeneration.”

The two key goals of the fund are to: • Encourage sustainable cultural and creative regeneration in the North of England • Benefit areas of the North of England that have historically had low levels of cultural and creative investment.

Keith Merrin, Chief Executive of Sunderland Culture, the organisation behind the proposal and Sunderland’s bid to become City of Culture 2021, said the centre would unleash the imaginations of young people and stimulate their inventiveness.

“If we are successful in securing this funding, the National Centre for Imagination will be the headquarters of Inventors, the globally-successful programme devised by Sunderland-born artist, designer and inventor Dominic Wilcox. The NCI will also be home to DigiLab, where children and young people will have the opportunity to use emerging digital technologies to learn new skills and develop their ideas,” said Keith.

Plans include a provision for the upper floor of the NCI to be devoted to the University of Sunderland’s performing and creative arts provision, with the university working with leading practitioners and providers in the region.

“Having a stimulating, inspirational learning and development space for a range of cultural disciplines on the upper floor will help cement Sunderland’s place on the national, as well as regional, cultural map,” said Keith.

“It’s another stepping stone in raising the profile and image of the city’s overall cultural offer and further making the case for Sunderland to be UK City of Culture in 2021.”

Sunderland’s bid for �3m towards the �5m cost of the building is now in competition against ten other towns and cities bidding for part of the NCRF pot. It is understood up to four projects will be successful in their bids, with a decision due in March next year.

The NCRF fund was set up to ensure a lasting legacy for the Great Exhibition of the North, which will be held in Newcastle and Gateshead next summer. The �5 million government-funded exhibition will showcase the best of Northern art, design and innovation. The fund is also anticipated to pave the way for future investment in the Northern Powerhouse.

The NCI would be owned and operated by Sunderland Culture Ltd, the joint venture company established by Sunderland City Council, University of Sunderland and Sunderland Music, Arts and Culture Trust to deliver and manage Sunderland’s major cultural venues. Since its inception just over a year ago Sunderland Culture has attracted over �3.5m in new investment into the city for cultural activity over the coming four years.

Sunderland will find out this Thursday (December 7)whether it will be City of Culture 2021, when Arts and Culture Minister John Glen MP will announce the decision live on BBC One’s The One Show. The other shortlisted cities are Swansea, Coventry, Stoke and Paisley.

 

– Ends –

 

Note to Editors:

 

About the North East LEP

The North East Local Enterprise Partnership (LEP) is a public, private, and education sector partnership that covers Durham, Gateshead, Newcastle, Northumberland, North Tyneside, South Tyneside and Sunderland local authority areas.

 

About Sunderland Culture

Officers of Sunderland Culture are Keith Merrin (chief executive) Rebecca Ball (director of Sunderland 2021) and Helen Connify (cultural partnerships co-ordinator)

 

The initial focus of the new company will be to secure funding bids from public bodies and to prepare the application to DCMS for UK City of Culture 2021.

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Scaleup North East helps ambitious businesses achieve their full potential

A new multimillion pound programme, Scaleup North East, aims to create more than 6,000 new jobs and boost the number of scaleup businesses in the region by 50% by 2024.

Expressions of interest are now open for Scaleup North East, which is being delivered by RTC North as an integral part of the North East Growth Hub. The programme will support businesses with the ambition and drive to achieve a real step change in business growth.

Businesses involved in the programme will be matched with an experienced ‘Scaleup Partner’ to work with them throughout their journey to support and inspire them to achieve their growth goals.

Colin Bell, Business Growth director at the North East LEP, said: “Scaleup North East is an incredibly exciting programme that is aimed at businesses that want to scale, become more profitable and employ more people.”

“This is something totally new. It’s a real step-change for the region that will help us meet our goal of creating more and better jobs and opportunities, as set out in our Strategic Economic Plan.

“Scaleup North East will create and sustain more scaleup businesses and has the potential to make a truly transformational impact on the North East economy.”

Andrew Buckley, Chief Executive at RTC North, said “RTC has been supporting North East businesses for 30 years and is incredibly proud to be delivering the Scaleup North East programme. We are looking forward not only to working with the region’s existing scale up businesses, helping them to overcome any barriers to continued growth, but also to identifying and nurturing the next generation of scale up businesses”.

To join Scaleup North East, businesses must:

  • Be based in the North East LEP area (Northumberland, Tyne and Wear, County Durham)
  • Be a registered company and have been trading for more than three years
  • Have a minimum of five and less than 250 employees (FTEs)
  • Have an annual turnover of more than £500K and less than €50million
  • Operate in an eligible ERDF sector (not banking, insurance or retail sectors)

But, most importantly, participating businesses must have the ambition to grow.

Businesses that think they could benefit are now being asked to come forward to register their interest and sign up to the launch event on January 26. You can do that here.

Scaleup North East is part funded by the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.

The project received a £700,000 grant from the Local Growth Deal through the North East Local Enterprise Partnership (LEP).

For more information, please visit www.scaleupnortheast.co.uk or call RTC North on 0191 516 4400.

ENDS

 

NOTES TO EDITORS:

 

RTC North Contacts:

RTC services are designed to help clients innovate, compete and grow. Specialising in the commercialisation of new products and services, we work with individuals, businesses and the public sector to help create more innovative and vibrant economies.

Founded in 1989, the company has vast experience of helping organisations with all stages of the innovation and IP commercialisation process and uses this expertise to support partners at a UK regional, national and European level.

RTC is a lead UK partner in the worlds’ largest business support network – Enterprise Europe Network – and has established relationships with partners in Asia as well as North and South America.
ERDF: The Scaleup North East project is supported by the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The project is receiving up to £2.5m of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.

 

About the North East LEP

The North East LEP is a public, private and education sector partnership that covers Durham, Gateshead, Newcastle, Northumberland, North Tyneside, South Tyneside and Sunderland local authority areas.

The £270.4m Local Growth Fund, secured as part of the North East Growth Deal, supports the North East LEP’s delivery of the Strategic Economic Plan, which aims to create 100,000 more and better jobs by 2024.

Local Growth Fund

Local Enterprise Partnerships are playing a vital role in driving forward economic growth across the country, helping to build a country that works for everyone.

That’s why by 2021 Government will have invested over £12bn through the Local Growth Fund, allowing LEPs to use their local knowledge to get all areas of the country firing on all cylinders.

Analysis has shown that every £1 of Local Growth Fund invested could generate £4.81 in benefits.

If you would like some further facts about the Fund, or the wider regeneration work going on across the country, please contact DCLG press office by emailing [email protected] in the first instance to request any additional information you might need.

 

 

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North East says better connectivity is key to improving productivity

Business and regional bodies say improved connectivity can drive productivity growth across much of the UK and contribute to closing the gap between the best and worst performing regions, according to a new study published today by HS2 Ltd.

Drawing on evidence from over 100 employers, local authorities and universities across the UK, HS2: Getting the best out of Britain, highlights the regional strengths of highly skilled manufacturing clusters, universities and research centres, and cutting edge technology entrepreneurs, but warns that more needs to be done to draw them together and realise their full potential. In the North East, the report shows how HS2 will help close the productivity gap by:

  • Making it easier for businesses across the North East connect, both to each other, and to the manufacturing plants, suppliers, universities and research centres in York, Nottingham, Derby and Birmingham as well as new sources of finance, particularly in London;
  • Encouraging collaboration in the knowledge based industries in the region, in particular the software technology, gaming and creative businesses based in Newcastle and the growing number of software companies in Sunderland and DigitalCity on Teeside;
  • Better connect the region’s exporters by cutting journey times from Newcastle to Heathrow Airport by 1 hour and 20 minutes.

HS2 services will join the existing rail network near York, with trains continuing to serve Darlington, Durham and Newcastle, providing faster and more reliable journeys to the East Midlands, Birmingham and London.

David Higgins, Chairman of HS2 Ltd said:

“This report is the evidence that HS2 will boost productivity in the north and midlands. This is a once in a generation opportunity to join up and amplify the many centres of excellence around the country, as we prepare to exit the European Union.

“By improving the connectivity between our major population centres HS2 will give business access to the skills, labour and services they need to change the economic geography of the country.”

Chris Grayling MP, Secretary of State for Transport said:

“This study clearly shows transport investment is crucial to a strong and resilient economy. That’s why we are investing in all forms of transport including the biggest rail modernisation programme for over a century to improve services for passengers – providing faster and better trains with more seats.

“As Britain’s new railway, HS2 will deliver vital links between some of our country’s biggest cities, driving economic growth and productivity and helping to deliver the Government’s Industrial Strategy.

“By bringing our major cities, regions and communities closer together we are encouraging business and innovation and building a Britain that is fit for the future with a stronger economy and fairer society.”

The North East is home to over 2.5 million people and contributes more than £45 billion annually to the UK economy. Yet in the Newcastle city region, productivity is 87% of national average, and in the Tees Valley, 90% of the national average. Across the North East, only manufacturing has a level of productivity close to the average for England.

In terms of talent, the report shows that world-leading skills and research in the North East can match that of London and the South East. Cities and regions in the Midlands and North account for 32% of the UK’s research staff working in universities with high quality research, compared to 35% in London and the South East, and high quality universities produce thousands of graduates every year.

Despite this, employers in the North are still held back by a lack of access to skills, frequently citing lack of skills as a barrier to growth. At the same time London continues to attract graduates from around the country with nearly half of its population at NVQ4 qualification level or above, compared to 30% in the North East and Tees Valley.

The report, to be launched at an event in Nottingham later today, demonstrates that by joining up the major conurbations around the country, HS2 will enable a greater pooling of people and capital around the regions of the UK. This connectivity will enable businesses in the North and the Midlands to gain better access to new markets, investments, and become more globally attractive.

Jonathan Walker, Head of Policy and Campaigns, North East England Chamber of Commerce said:

“We were pleased to contribute to this report and welcome its findings, which make clear the substantial economic impact first-class connectivity can bring to a region.  We have backed investment in high-speed rail in order to improve the capacity and reliability of the national rail network.

“When fully integrated alongside other planned improvements to regional rail and public transport infrastructure, HS2 has the potential to unlock significant investment in North East England”.

Helen Golightly, Executive Director at the North East LEP, said:

“The impact of HS2 trains on the North East is more than simply a reduction in journey times, it will enable faster and stronger business connections between the North East economy and other centres across the North and beyond. The North East is a forward-thinking centre for innovation and industry and we will be working to maximise the benefits for the region of this improved connectivity.”

In addition, the study finds that by bringing major cities closer together, HS2 would further support the distribution of the £17bn professional services market around the whole country. With office costs up to 80% cheaper in the North compare to London, and salaries up to 40% lower, huge efficiency savings can be made. Prime office rents in Newcastle are for example, one fifth of rents in the West End of London.

Comparing London’s highly-efficient transport network with the connectivity that exists within and between city regions in the Midlands and the North, the study argues that there is a direct link between productivity and connectivity.

HS2 will serve around 30m people and directly serve 25 stations, joining up the dots between where we are now, and where we could get to as a country – a combination of more capacity and better connectivity will improve accessibility, and, therefore, productivity in the Midlands and the North – at the same time as easing the pressure on London.

ENDS

HS2: Getting the best out of Britain here.

Download the North East regional briefing here.

 

Case studies:

Centre for Process Innovation – Redcar

https://www.uk-cpi.com/about/

The Centre for Process Innovation (CPI) is a UK based technology innovation centre and the process arm of the High Value Manufacturing Catapult. Established to support the UK process manufacturing industry, CPI collaborates with universities, SMEs and large corporates to help overcome innovation challenges and develop next generation products and processes. Operating across a broad range of technologies, we support our partners at every step of the way; from concept to market; business support to technology development; from scale up to supply chain intervention.

Leaf FM – Newcastle

https://leafmusic.com/

Leaf, a mobile application, uses their online community to enable its users to discover, connect, and support music artists. It was founded in Newcastle in 2014.

 

Notes to Editors

HS2 Ltd media team contact details:

  • Monday to Friday (9am to 5pm) 020 7944 6149
  • Out of hours & weekends 020 7944 0550

Background information

The Government gave the go ahead for a UK high speed rail network, called High Speed Two (HS2), on 10 January 2012.

HS2 will be a Y-shaped rail network providing direct, high capacity, high speed rail links between London and Birmingham and on to Leeds and Manchester. HS2 will improve capacity across the rail network, shorten journey times between Britain’s major cities, boost the UK economy and create tens of thousands of jobs.

In 2012, HS2 Ltd submitted proposals to the Secretary of State for Phase Two of the project from the West Midlands to Leeds and Manchester. The Government announced its initial preferred route for Phase Two on 28 January 2013 and the public consultation on these proposals ran from 17 July 2013 to 31 January 2014.

The HS2 hybrid Bill for Phase One of the new railway between London and the West Midlands (effectively the ‘in-principle’ planning application for the scheme) was deposited in Parliament on 25 November 2013.

MPs debated and approved second reading of the High Speed Rail (hybrid) Bill for construction and operation of the line between London and the West Midlands in the House of Commons on 28 April 2014. MPs voted 452 to 41 to agree the second reading of the Bill.  Royal Assent, which grants powers for construction of the Phase One route, was awarded on 23 February 2017.

In November 2015 the Government confirmed the section of the Phase Two route between Fradley, at the northern end of Phase 1, and Crewe. Known as Phase 2a it will open in 2027 and deliver the benefits of high speed rail to Crewe; Manchester; north west England; north Wales and Scotland six years earlier than planned.

The Government made an announcement on the rest of the Phase Two route serving Manchester on the western leg, and the East Midlands, South Yorkshire and Leeds on the eastern leg on 15 November 2016.

HS2 Ltd is a company wholly owned by the Department for Transport (DfT). It is responsible for design, engineering and construction of HS2.

 

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In conversation with Richard Baker, Head of Policy and Strategy

The North East LEP welcomes the Industrial Strategy White Paper

We welcome the publication of the Industrial strategy white paper which has the potential to make a significant impact on the long term health of the UK economy

The White Paper has a particular focus on the role of places in rebalancing the UK economy. The North East has a strong role to play in delivering the strategy through its industrial and innovation strengths in advanced manufacturing, life sciences innovation, energy and the digital economy. Our science strengths in areas like ageing and smart data can contribute to addressing the grand challenges identified in the report. The focus on skills will provide new opportunities to improve economic opportunities for local people.

We look forward to understanding opportunities for new investment, for example through the Innovation Place Fund and we look forward to future discussions about the proposed UK Shared Prosperity Fund as a source of funding as we leave the European Union. It is clear from the proposals that the decision to create a North of Tyne Mayoral Combined Authority should offer new opportunities for the region.

We are pleased that the Government has announced continued funding for the Growth Hub network and that there are opportunities for continuing development of its role which should be progressed. This is central to the approach of the North East Strategic Economic Plan, aiming to ensure that support is available and accessible to support business growth.

Read the White Paper here.

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The triumphs and challenges of growing a multi-million pound brand

Growth Hub Live event

Thursday 7 December, 8.30am – 12.30pm

The former Chief Financial Officer of clothing brand Superdry will be sharing the triumphs and challenges that a business can face as it grows from a small brand to a global name, at a free event in December.

Chas Howes joined Superdry in 2007 and oversaw a growth in turnover from £41m to £314m in 2012.

He chaired the project team responsible for listing the business on the London Stock Exchange in March 2010, winning ‘IPO of the Year’ in 2010 and achieving FTSE250 status within one year.

Colin Bell, Business Growth Director at the North East LEP, said: “Chas Howes will be sharing his knowledge and experience with North East businesses at our next Growth Hub Live event on 7 December.

“We’re inviting businesses leaders who have the ambition to take their business to the next level to come and hear from Chas, who will give an insight into the reality of leading a multi-million pound brand through a period of rapid growth and the highs and lows that come with that.”

Howes will be the keynote speaker at the Growth Hub Live event, which takes place on Thursday 7 December from 8.30am to 12.30pm at Sage Gateshead.

Hosted by North East Growth Board member and entrepreneur Ammar Mirza, the event will address the challenges that business leaders can face when taking a company to the next level of growth. There will be a panel of representatives from North East businesses including Sue Ormerod from Nigel Wright and Nigel Mills, Chair of Lakeland Distillery and the Entrepreneurs Forums, who will tackle some of the issues commonly faced by growing enterprises.

The event is free to attend and is aimed at businesses which have five or more employees and a current turnover of at least £500k per annum.

Register for your free place at the Growth Hub Live event here.