New support network will help businesses survive and thrive, says mayor
West Midlands Mayor Andy Street explains how the region's combined authority has taken on the lead role in supporting business growth.
"Just last month the West Midlands secured a new Devolution Deal with Government, giving local leaders here on the ground new powers and at least £1.5 billion of new funding to deliver results for local people. This will unquestionably unlock opportunities for businesses here in the Black Country.
"The direction of travel is clear, with more decision-making power resting with elected local leadership here in our region.
"This was underlined by a Government commissioned review of local enterprise partnerships recommending their work be taken on by local outfits led by elected local leaders – in this case the West Midlands Combined Authority, which I chair. In response to that Government recommendation, The Black Country Local Enterprise Partnership (LEP) has taken the sad decision to close.
"As a former chair of a local enterprise partnership, I know first-hand the value that LEPs provide and the outcomes they can deliver for firms large and small looking to grow and thrive.
"The Black Country LEP in particular was crucial in helping to begin to transform the Black Country thanks to their part in securing the Dudley Institute of Technology, the revamp of Junction 10 of the M6, and the growth of i9 in Wolverhampton – as well as supporting countless other projects and businesses across the region.
"This level of support would not have been possible without the leadership of the LEP’s two former chairs – Stewart Towe and Tom Westley – and the dedicated, hard working staff and private board members who did all they could for the Black Country.
"Helping businesses to develop is critical to the success of the West Midlands – both in creating jobs and driving economic growth. The Black Country alone has phenomenal businesses employing over 460,000 people and contributing billions of pounds to the region’s economy.
"We therefore cannot allow the hard work and success of the Black Country and other LEPs across the region to be lost, which is why in their place we have launched our new service – Business Growth West Midlands.
"All of the helpful things that LEPs did, we will continue to do with Business Growth West Midlands. From opening up access to finance and connecting companies to skills provision, to offering support with their marketing efforts and helping business decarbonise, we have experts ready and waiting. Providing this support to businesses fits well with many of the business friendly activities the WMCA already leads on – including our extensive skills programme, UK-leading track record in brownfield first regeneration, and regional Plan for Growth.
"For centuries, the sheer drive and enterprising spirit of our small and medium sized businesses has been the lifeblood of our regional economy – powering the Industrial Revolution and more.
"With our Plan for Growth and shift in emphasis towards the industries of tomorrow – including electric vehicles and energy storage – I believe we should be optimistic about the future. But it would be so wrong to ignore the challenges many businesses face currently – not least around the labour market, energy, and trade.
"Businesses across the Black Country need help, and they need it now. Business Growth West Midlands is open, ready, and waiting to hear from you."
