Introduction David Ralph, HotSW LEP CEO
This month saw the much-anticipated Autumn Budget which has set out the Government’s plan for growth, with welcome funding and tax reliefs.
Although we secured some funding for the South West, perhaps it’s too little too late as again we lost out to red wall voters, with an eye on a possible general election next autumn.
I look forward to working with Local Authorities over the coming months to deliver an orderly transition, ensuring our area’s business voice is championed and continues to be meaningful, and services delivered.
This month, the Government confirmed that the region has been successful in securing further Levelling Up Funding which will help provide more employment opportunities.
Our partners at the Great South West welcomed their new director, Ahmed Goga. I’m looking forward to working with him to realise the Partnership’s ambitions.
Keep reading to find out more about SWBC events, latest events from Access to Finance SW, business support opportunities from the Growth Hub, and updates from Lymington Road Coach Station and Connecting Devon and Somerset.
David Ralph
Chief Executive
The region is Levelling Up
Government has confirmed that Torbay, Plymouth and Wellington have been successful in securing further Levelling Up Funding. This funding will accelerate economic growth locally and provide more employment opportunities in the key local sectors.
Torbay Council’s Leader, Cllr David Thomas, said: “We are delighted to hear this news from Government today that has once again identified Torbay to receive more Levelling Up funding. This brings the amount of funding from the various pots secured for the Bay to over £100 million.”
Lymington Road nearing completion
Torbay Council announced that the development of five light industrial units at Lymington Road, Torquay, is on schedule for completion in January 2024. The development will feature a new coach bay, shelter for waiting passengers, improved toilets, and lighting throughout the car park.
Karl Tucker, Chair of the Heart of the South West LEP, said: “It’s fantastic to see these new units nearing completion, ready to support growing businesses in Torbay with modern, flexible facilities. Developments like this are vital to helping small businesses to scale, and revitalising the local economy.”
Full fibre connection at Carymoor
Carymoor Environmental Trust nature reserve on an old landfill site now has a full-fibre connection. This has come as part of Wessex Internet’s ongoing three-year fibre build in some of the most rural parts of South Somerset on behalf of Connecting Devon and Somerset.
The Connecting Devon and Somerset programme is funded by the Department for Digital, Culture, Media and Sport, Heart of the South West LEP, CDS local authorities, European Regional Development Fund and the Rural Development Programme for England.
Future of Somerset "well on its way"
LEP Chair, Karl Tucker was one of six panellists at the Future of Somerset Breakfast. The event explored the region’s projects and where future economic development opportunities lie.
Somerset is “well on its way” on the journey of transitioning to a Net Zero carbon economy – according to the director of planning and economic development at Gravity – who added that the 616-acre Bridgwater-based smart campus is set to bring a myriad of opportunities to the county, as well as across the wider South West.
Train4Tomorrow returns
Skills Bootcamps are free, flexible courses of up to 16 weeks, giving people the opportunity to build up sector-specific skills and fast-track to an interview with an employer. Skills Bootcamps can be co-funded by employers to enable upskilling of employees.
The programme is funded by the National Skills Fund and includes Skills Bootcamps in Construction, Digital, Green, Health, Hospitality, and Professional Services.
Accelerate growth with Access to Finance
Access to Finance SW‘s next event ‘Accelerate Growth: Investor Secrets for CEOs and Owner-Managers’ will be hosted via webinar on Wednesday 13th December from 10 am – 11 am. Key topics will include: How external investment can unlock growth and much more.
The event will provide CEOs and owner-managers with the opportunity to dive deep into the world of strategic marketing, venture capital and private equity.
Unlock your digital potential
The Heart of the South West Growth Hub Digital Link is a free, fully-funded service that connects you to the latest advice, guidance, tools and resources. Unlock your business’s digital potential and help grow your business by exploiting digital technologies.
If you’re a business in Devon, Somerset, Plymouth and Torbay, you can get dedicated time with their Digital Business Advisers. You’ll receive a Digital Business Review and you’ll work together to find digital solutions aligned with your business goals.
New director to lead Great South West
Ahmed Goga has joined the Great South West Partnership as a director, advising on the Board’s future growth plans. In his new role, Ahmed will act as a principal adviser to the Board, leading on a strategic, collaborative approach to the Partnership’s future growth.
Ahmed said: “This is a really exciting time to be part of the Great South West. The Partnership has united the region, creating a powerful shared voice and an ambitious vision that places it at the heart of the UK’s economic priorities, which I look forward to supporting.”
SWBC: Harnessing the Power of AI
The South West Business Council has announced their latest conference ‘Harnessing the Power of AI – Meeting the challenges and opportunities’. The conference will take place at the University of Exeter on the 16th of February next year from 9am-1pm.
The confenrece will explore the strategic importance of AI for society, how do we make the best use of technologies such as AI and Machine Learning – especially in terms of how they might improve productivity, what is the role of government in terms of policy-setting frameworks to ensure that AI is a force for good both from a societal and business perspective and much more.
Prosperity or survival at best?
In his latest blog, CEO David Ralph reflects on the Autumn Budget: “Much of the funding for marine, photonics, engineering, offshore wind and climate science was playing catch-up, and could have been awarded some time ago.”
“More specifically for LEPs, I’m pleased to see that Growth Hub funding has been confirmed for 2024/25, to continue providing our SMEs with access to finance and support programmes. Growth Hubs have been an important source of support for local businesses, and it’s good to see that our push for funding has been recognised.”
