Member Article

Region must innovate for 2012 success says expert

The North East needs to think creatively if it is to attract investment and make economic progress in 2012, according to a local business expert.

Jeremy Middleton, owner of Middleton Enterprises and North East Local Enterprise Partnership believes that it will be a tough year for businesses as the local economy adjusts to public spending cuts and faces up to problems in the eurozone.

However he believes that the region’s achievements in 2011 will provide much for businesses to build on and growth of exports alongside the strengthening offshore and manufacturing industries will help the region prosper.

Repeated calls have been made for investment in regional infrastructure, and Mr Middleton believes that if they are to be successful, robust and solid arguments should be presented to show that it makes economic sense.

He is also keen to encourage as many businesses as possible to take advantage of resources available, including Regional Growth Funding and the £400 million “Get Britain Building Fund”

Mr Middleton said: “There are substantial funds for investment available for our region.

“However, to secure them it’s no longer enough to hold out the begging bowl – these days we need to make a persuasive case that the money will generate sustainable jobs and not merely prop-up jobs for jobs sake that have no longevity and do not benefit the economy.”

The Enterprise Zones will also have a big part to play in the region, and Mr Middleton believes that the region must work cohesively to attract inward investment, encourage business development and generate jobs.

He added: “This will take a lot of time, effort and skill. However, I am confident that business and Local Authorities in the North East will rise to that challenge.

“It will be a betrayal of everyone who lives and works here if we failed.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .