A new relationship with business – the key to local growth Martin Cresswell Chief Executive iMPOWER Consulting Ltd May 2013 The contents of this document are © iMPOWER Consulting Ltd unless otherwise stated Registered office: 14 Clerkenwell Close, London EC1R 0AN Registered in England and Wales No:

2 Business has been, and should be, a fundamental part of our community The impact of the Singer Factory on Clydebank

3 Business in our local economy  Building the local authority role in local economic growth?  Knowing your local businesses?  Joining up differing interests – providing leadership?  Building a consensus for growth?

4 Is government coming to the rescue? Source: HM Treasury and UK Public Spending [1][1]

5 And the real picture is worse Source: HM Treasury and UK Public Spending [1][1]

6 Will the banks support growth Positives  Extension of Funding for Lending Scheme, skewed to SME’s  Business bank Negatives  Increasing provisions for risk and miss-selling  Increase liquidity holdings  Deliver profit for investors  Costs of borrowing

7 7 habits of ‘Highly Successful Cities’  City identity and reputation – vital to protect it and project it in a globalised world  Know ourselves deeply – need to link future aspiration with past and present  Know others very well – know who to learn from, internationally  Build a family for the city – at the company, sector and government levels  Make the city’s promise personal – connect to individual citizen and business aspiration  Renew/realign experience and identity – ensure no gap between reality and city projection  Build the next generation with integrity & consistency – no one giant leap, lots of steps (source: Greg Clark: Senior Fellow ULI Europe – Glasgow Economic Commission )

8 7 habits of ‘Highly Successful Cities’  City identity and reputation – vital to protect it and project it in a globalised world  Know ourselves deeply – need to link future aspiration with past and present  Know others very well – know who to learn from, internationally  Build a family for the city – at the company, sector and government levels  Make the city’s promise personal – connect to individual citizen and business aspiration  Renew/realign experience and identity – ensure no gap between reality and city projection  Build the next generation with integrity & consistency – no one giant leap, lots of steps (source: Greg Clark: Senior Fellow ULI Europe – Glasgow Economic Commission )

9 Have national initiatives delivered?

10 Areas of severe competition – analysis of LEP business plans  Green/ carbon economy  Advanced manufacturing  Digital and creative industries  Life sciences  Finance & business services Is there sufficient differentiation between localities to drive growth locally?

11 What needs to be done  Build a new and local relationship with business?  Get beyond the data – what is really happening?  What is your local differentiation?  Understand locally what makes a difference?  Government must relax the reins and allow localities to succeed!  Align limited resource to make maximum impact!  Map, segment, and account manage relationships