Business Growth: key delivery challenges 30 September, 2015

Where we are coming from Meltdown Monday Global crisis: House shocks investors…S&P 500’s worst day since 1987…Banks saved Stocks dive on bail-out rejection UK Treasury announces nationalisation of Bradford & Bingley US Federal Reserve announces huge new liquidity operations The crisis spreads in Europe

What we “inherited” “Legacy” of regional interventions, including: Access to Finance North West Fund UKTI export advice Manufacturing Advisory Service Resource efficiency service Investors in People Local GM provision, including: Alternative debt providers Inward investment services National programmes, including: Technology Strategy Board (now Innovate UK) Growth Accelerator

Foreign Direct Investments Gross Value Added (GVA) generated Jobs created & safeguarded Value of export sales generated Tonnes of carbon savings Business assists 2014/15 Business Support Performance: Greater Manchester Businesses engaged New business Start-ups Event attendees £52m 4,809 Finance raised for/lent to businesses £20m 12, ,869 15,269 8,060 £222m

Business support & inclusion Of businesses supported in Greater Manchester (2014/15) 24% had a majority female management/ownership; 12% had a majority BEM management/ownership; 47% were located in disadvantaged wards (wards with claimant counts higher than the GM average of 15.5%); Of lending in Greater Manchester (2014/15) 57% of recipients were previously unemployed; 36% of loan recipients were female; 24% of loan recipients were BEM.

Business growth environment Recovering domestic economy, underpinned by interest rates at record-low Patchy global recovery, with not insignificant currency fluctuations in certain key markets Continued skills shortages Uncertainty over UK position in Single European Market Increasing environmental and societal (especially costs of health and social care) challenges Tighter programme arrangements post-Comprehensive Spending Review; flexibilities from devolution

Business growth approach Prioritised to respond to tighter programme budgets; organised to respond to devolution opportunities New exporters and export markets, including capitalising upon the presence of foreign owned companies and using access to finance to increase trade Increasing innovation and science commercialisation to improve productivity Access to mainstream, and increased supply of new forms of, growth finance Facilitated through strengthened Leadership & Management and maximising local workforce skills

Innovation Developing new products & services, adopting new sciences and technologies Leadership and workforce Leadership, management and high performing workplaces Finance Investment readiness and alternative debt, angel and equity finance Resource efficiency Improved use of energy and resources. Leadership and workforce Leadership, management and high performing workplaces Trade Increasing international sales Enquiries Initial Information & Growth Assessment Client Engagement Targeting start-ups & growth companies Promoting growth through events & workshop programme Growth Services Growth Start Growth Team - Account Management Business Start-up Programmes Manufacturing & Engineering (inc Textiles) Digital, Creative and Tech Low Carbon and Environmental Goods and Services Life Sciences and Healthcare Business & Professional Service Inward Investment Bringing new companies to Greater Manchester Referrals across services & partners Public and Private Partners including Growth Alumni Business support and finance model

Underlying principles Continue to evaluate for economic impact and customer satisfaction Intervene whilst minimising displacement and duplication Maximise the integration of client acquisition and service delivery Dual targeting of support on increasing productivity and maximising local employment and skills