AWM: Region can prove its business strength
Oct 23 2008 by Mick Laverty
This column sponsored by Advantage West Midlands.
There are few who consider the economic climate to be a time of opportunity – but never has our region had a greater opportunity to demonstrate its resilience and strength of character than through the global downturn.
The desire to demonstrate just what can be achieved when we work in partnership, is what must drive us forward.
But to ensure our business community thrives, rather than merely survives, we need to ensure West Midlands’ businesses are connecting to the support on offer from Government and through regional and local agencies.
Government commitment to provide £350 million in support to small businesses is great news for the region, coming as it does on the back of our own funding package announced back in September.
The Advantage West Midlands £64 million support package for business – developed in response to calls for support from our business community – consisted £61 million in infrastructure funding comprising; a £48 million gap funding initiative to encourage commercial property developers into the market and a £13 million regional infrastructure funding programme. This is a catalyst for additional funding into projects that might not otherwise progress in the existing market conditions.
Yesterday Peter Mandelson announced a national Business Support Simplification Programme badged Solutions for Business the aim being to make it easier for businesses, whatever size or growth phase they are in, to find the right products to help them with common business issues. We’re already looking at a number of other support measures, including a loan fund similar to the one we set up following the demise of MG Rover – a loan fund that was credited with saving both businesses and jobs.
Flexibility is key in times like these. The fundamental issues which are holding our region’s economy back; those of innovation, skills, transport, enterprise and economic inclusion, will remain once the crisis has passed.
There may be dark days ahead but we need to work through them together – if you work with us, not against us and work within the West Midlands Economic Strategy, not outside it. If we align our resources our achievements will be greater, our successes enjoyed sooner.
* This column sponsored by Advantage West Midlands. Mick Laverty is chief executive of AWM.
