Member Article

New scheme to boost Leeds’ economy attracts hundreds of members

Hundreds of businesses have signed up to the Leeds City Region Local Enterprise Partnership’s (LEP) ‘five three one’ initiative which offers free support from employment and skills specialists.

A range of companies from across Leeds have already seen their business grow as a result of joining the initiative, reporting increased profits and better business performance.

‘Five three one’ is the LEP’s scheme to help businesses and the economy grow by encouraging more companies to unlock their skills potential and offers five actions businesses can take, three reasons to do them and the one outcome, which is to help the local economy to grow.

The scheme assists with growth and employment by developing the skills of the local workforce, whilst enabling those out of work to compete in the labour market by ensuring they have the necessary skills to do so.

Companies joining ‘five three one’ are given the five proposals of: - developing a skilled workforce, choosing to mentor a budding entrepreneur, building their own links with education, providing work placements to unemployed people or offering an apprenticeship.

The LEP’s three reasons to carry out the proposals are: - to get better business performance, more productivity and profits and more business success in the future.

The 250 companies who have joined ‘five three one’ represent more than 200,000 employees in the Leeds area and it’s estimated that their involvement could equate to an economic value of up to £5.3m to the region.

Charles Denham, sustainability manager at Premier Farnell, is one of the members. He said:

“‘Five three one’ brings scores of benefits to our business. It raises our company profile and helps to establish a positive association with our business.”

Other companies who have signed up include Baker Tilly, the Institute of Civil Engineers, Leeds Bradford Airport, Leeds University Business School and Wakefield Council to name just a few.

This was posted in Bdaily's Members' News section by Anna Addison .