The York, North Yorkshire & East Riding Enterprise Partnership has vowed to press on with its plans for an innovative approach to growing businesses, despite not securing backing from Government.
Living up to its commitment to “Business Inspired Growth”, the Partnership has developed a model to boost growth in businesses, by establishing a network of vibrant centres of enterprise.
James Farrar, Chief Operating Officer said:
We’re looking to stimulate growth amongst all our business community, by making it easier to get support from business peers and professionals.
We proposed bringing local Business Networks and Professionals together in Enterprise Hubs, helping local providers win additional local business, who would in turn grow.
The LEP submitted a £3.25m bid to Defra’s Rural Growth Network. This funding would have been used to transform currently under-utilised properties into dynamic hubs of enterprise led by the private sector.
Unfortunately this novel approach to getting the most from existing properties and providing opportunities to do more business locally failed to win over Defra.
LEP Chairman Barry Dodd said:
It is a great disappointment that Defra didn’t recognise our vision.
However, we didn’t develop our approach to chase funding; we want to do it because it’s the right thing to do. We will press on with our plans to develop hubs of support based in the local business community. Although the funding would have been a big help, there are plenty of opportunities remaining to develop our approach, because what we’re proposing is good for business. We already have a number of businesses interested in establishing Enterprise Hubs without public sector funding, as they recognise the benefits this will provide them and their local business community.
The Enterprise Partnership will outline its revised plans for establishing a network of Enterprise Hubs across all communities in the area, not just rural settlements as dictated by Defra, in the coming months.