In Conversation with North East LEP Chairman, Paul Woolston

Firstly, this is the ideal platform from which to wish everyone in the North East business community a prosperous new year.

The festive break gives us all time to recharge our batteries, reflect on the past year and look ahead to the opportunities to be seized and challenges to be met in 2016.

Christmas and New Year present us with the rare opportunity to take our foot off the gas and properly assess the 12 months past.

To move forward with clarity and purpose, we need to take stock of achievements, progress made and outcomes.

It also gives the valuable thinking time to tackle the year ahead with fresh motivation and renewed vigour.

The North East economy showed a continued strengthening in 2015 with more people in work than ever before and a general, longer-term fall in those out of work.

Encouragingly, labour market statistics also revealed more people available and wanting to work in our region. The North East LEP’s goal is to help deliver 100,000 more and better jobs for local people over the next decade, and these key statistics clearly point to an economy growing in confidence.

The North East LEP has attracted £1.5bn in Government and EU funding into the region over the past five years. It is crucial that it continues to secure investment to underpin business growth, job creation and support capital investment in projects to transform the region.

In this vein, the LEP worked hard with Government to ensure that the £120m JEREMIE 2 business support fund will remain North East managed and exclusively invested into scores of North East firms.

The success of the first round of JEREMIE funding supporting 800 small companies in exciting, booming sectors with £140m in equity loans, made it imperative that its successor followed this template.

Keeping JEREMIE 2 in the North East was a major win for our region last year, one of the real highlights for the LEP team.

As was securing ten new Enterprise Zones from Government spread from Northumberland to County Durham.

Their benefits for new and growing companies will attract an estimated 14,000 new jobs in crucial sectors such as subsea and low carbon technologies.

It doesn’t need a crystal ball to look ahead into 2016 and see the impact the devolution agenda will have on our region.

The LEP and North East Combined Authority have signed up to the devolution of more autonomy for the region and to the principle of an elected mayor in 2017.

Devolution will undoubtedly mean a changed role for the LEP in future. While it isn’t exactly clear what that will be just yet, the LEP remains fully supportive of the devolution process because of the powers it will give the region to shape its own future.

The next 12 months will be a time of continued delivery for the LEP team. The new North East Growth Hub – bringing comprehensive business support information onto one online platform – is due to go live imminently.

Supporting innovation through £125m of funding and encouraging greater collaboration and networks across the North East will remain central to its activity.

Backing those leading new economic growth through product development and enhancement to market will give our regional economy the competitive edge it needs to help close the gap with the rest of the UK.

Increase in North East apprenticeship starts 

There has been an increase in the number of apprenticeship starts by learners from the North East LEP area in 2014/15, with the top three subjects for apprenticeship starts in the region continuing to be health and social care, administration, and manufacturing technologies.

The North East LEP has also identified four ‘smart specialisation’ areas as priority growth sectors for the region.

Download our summary document for more details, and our analysis of the figures released in December 2015 by the Skills Funding Agency.

North East LEP secures second Enterprise Zone for the region

Multi-site EZ to boost manufacturing, export and innovation confirmed by Chancellor

The business-led North East Local Enterprise Partnership (LEP) has secured a new Enterprise Zone (EZ) for the region to fuel the creation of more and better jobs.

Chancellor George Osborne announced in the Spending Review that the North East LEP’s bid for a second EZ has been successful and that the multi-site Enterprise Zone is being supported by Government.

Businesses located within EZs benefit from a number of key advantages designed to drive their growth. These include business rate discounts for up to five years or tax savings via enhanced capital allowances for businesses investing in plant and machinery.

The LEP’s first EZ has been offering benefits to business in the offshore, renewables and automotive sectors since 2012. Since its creation, the EZ has attracted over £100 million of new private sector investment and resulted in over 1,200 new jobs and 25 new businesses.

This second EZ has been developed to complement and grow the region’s four key areas of strength, which are referred to as smart specialisation areas – Health and Life Science, Creative Digital, Automotive and Subsea and Offshore Renewables.

The new EZ will comprise ten sites across Northumberland, Durham, Sunderland, Gateshead, South Tyneside and Newcastle.

Helen Golightly, North East LEP Chief Operating Officer, said: “Enterprise Zones provide us with a strong offer to business to locate and develop in the North East.

“We are committed to supporting business to grow and are delighted to be given the opportunity to build on the success of our first Enterprise Zone. The second EZ will help us deliver the strategic economic plan and deliver more and better jobs for the region.”

North East LEP Chairman, Paul Woolston, said: “I’m delighted about our successful bid for a second Enterprise Zone for the region.

“EZs exist to drive growth in the smart specialisation areas identified by the LEP. They will play a key role in supporting the creation of more high-quality jobs and attracting further private sector investment into the North East.”

International Festival for Business 2016 (IFB2016)

UK Trade and Investment (UKTI) have partnered with IFB2016 as part of the Exporting is GREAT campaign to create 3 weeks of events, networking and deal-making.

IFB2016 is a global marketplace, bringing together thousands of delegates from around the world to create connections, share ideas and do business. It takes place from 13 June to 1 July 2016 at the purpose built Exhibition Centre Liverpool.

The first International Festival in 2014 saw 70,000 people attend events and created an estimated £300 million worth of investment and export sales. Building on this success, IFB2016 will be the biggest event of its kind next year.

The festival will provide significant opportunities to promote the UK around the world. It will enhance the competitiveness of British companies through overseas trade and investment.

What’s happening?

There are over 70 high quality events planned, focussing on 3 important sectors:

  • manufacturing
  • energy and environment
  • digital and creative

There will be a business services area where businesses can access free professional advice from experts in international trade, logistics, legal, banking, finance and more.

It will have the world’s biggest meet the buyer event with over 7,500 appointments available with buyers, advisers and investors from around the world.

The GREAT British Showcase will be there – a major exhibition curated by Number 10, featuring the UK’s most advanced innovations, products and technology.

There will be an investment hub, showcasing the best of British opportunities and a digital matching service to introduce businesses to potential customers.

Catherine Raines, Chief Executive of UKTI, announced:

“IFB is a huge opportunity to promote the UK as an unrivalled international business hub and to enhance the competitiveness of British companies competing on the world stage.

“The UK’s largest business festival will bring together decision makers, forge new business relationships and deliver real business results that drive UK exports and secure new inward investment.”

Why attend?

IFB2016 offers an unrivalled platform for companies to explore new export opportunities and grow their global network.

Over 35,000 UK and International delegates are expected to attend, giving UK Small and Medium sized Enterprises (SMEs) access to thousands of meetings and potential deals.

UKTI’s delivery network in 144 countries will work with IFB2016 to attract the world’s smartest business leaders and thousands of top international delegates.

A dedicated trading floor at the festival will see experts from across the world come together to support new trade and investment.

Who’s supporting IFB2016?

IFB2016 is backed by funding from HM Treasury and was announced in 2014 by Chancellor of the Exchequer, George Osborne.

Current ambassadors include:

  • Wayne Hemingway MBE, Co-founder of Red or Dead
  • Lord Bilamoria CBE, Chairman of Cobra Beer
  • Judy Kelly OBE, Artistic Director of Southbank Centre
  • Will Butler-Adams OBE, CEO of Brompton Bicycle
  • Claire Braithwaite, CEO of Tech North

How can you get involved?

Register now for the IFB2016 Business Club. This is your free ticket into the festival and also provides access to exclusive benefits during the run-up to the festival – including a range of free business support services that will be launched soon.