Member Article

Small businesses urged to contribute to ambitious plans for North East economy

Small businesses across the North East are being urged to help shape the future direction of the economy. The North East Local Enterprise Partnership (NELEP) unveiled the draft Strategic Economic Plan (SEP) which aims to grow the economy by focusing on promoting innovation, enterprise and creativity, and investing in and growing the business base across the area.

There is no doubt that the role small businesses play in driving the growth of the economy is crucial. Across the North East almost 135,000 small businesses employ 333,000 staff and contribute £24bn to the national economy.

The Federation of Small Businesses (FSB) in the North East supports the approach taken by the NELEP in the SEP and the investments outlined in the document. For example, we think the proposed Entrepreneurs First competition will help the North East not only increase the number of start-ups but also help improve the graduate retention we need to grow the economy.

What we need to see now is some robust challenging of what is included in the SEP to ensure that it helps the North East become one of the leading global economies.

Now is not the time for small businesses to hold back in what they think is needed. Where previous strategies have been presented as a fait accompli with little chance to influence the SEP is a genuine opportunity to really shape the future.

Small businesses are critical to the sustainable growth in the North East economy and will continue to be so in future. We know small businesses aren’t shrinking violets and we need that voice more than ever.

Taking part in the consultation is incredibly easy and can be done by responding to the online consultation at https://www.surveymonkey.com/s/neeconomicplan

Let’s ensure that the small business voice is heard loud and clear!

This was posted in Bdaily's Members' News section by Federation of Small Businesses .