Economic Development Strategy & Action Plan 2024 - 2028

Area of strategic focus 1: Business and Job Creation and Employment Safeguarding

What we have achieved

Created the Local Economic Forum

In July 2023, the Council brought together local stakeholders from across the District to provide advice and guidance on the strategic fit and deliverability of the South Kesteven UKSPF and REPF Investment Plan and to help guide decision- making and act as a key consultative body on future strategies, initiatives and funding programmes delivered by the Council.

Engaged with the Greater Lincolnshire Defence and Security Network (GLDSN)

The GLDSN brings together national and international defence organisations, manufacturing, research, development and innovation expertise. The Council joined the network that was designed to provide a single forum to overcome sector challenges and identify business opportunities in Greater Lincolnshire and Rutland.

Entrepreneurial, start-up and Business support, advice and guidance

Drawing upon UKSPF funding, Business Lincolnshire Growth Hub was commissioned to provide a range of digitised self-help tools and support delivered online, an engaging workshop and events programme and a specialist start-up support programme. Advisers provide impartial information, diagnostic and brokerage services to businesses of all sizes and sectors, linking to other relevant local and national support options, including specialist services for developing detailed actions plans for growth.

Exhibited at conferences and trade shows

Throughout the year, exhibiting at events across the District and Lincolnshire was a good way of raising the Council's profile, generating awareness of the support available to businesses and gain real-time feedback.

Business and Job Creation and Employment Safeguarding

What we will do

Introduce a business newsletter, webinars and podcasts

• Produce a business e-newsletter to provide access to information and updates tailored specifically for entrepreneurs and businesspeople. The news will include industry trends, upcoming networking events, marketing strategies and important announcements directly impacting business success.
• Procure a customer relationship management (CRM) system.
• Partner with experts and specialists to create a collection of business support webinars and podcasts. These will be designed to offer advice and tips to business owners on how to expand the reach of their businesses, build personal resilience and provide insights into funding and procurement opportunities.

Continue to distribute UK Shared Prosperity Fund

• Open further rounds of funding inviting community groups, businesses, voluntary and public sector organisations from anywhere in the District to apply for support covering a broad range of initiatives, for example:
  • Creating and improving local green spaces
  • Supporting local arts, cultural heritage and creative activities
  • Boosting local sports facilities, tournaments, teams and leagues
  • Supporting businesses to grow
  • Diversification of farm businesses

Use the Local Economic Forum effectively

• Encourage attendees to actively engage with the Local Economic Forum, share information, build community and allow easy sharing of resources and ideas. Draw upon expertise to shape the work of the Council's approach to economic development.
• Establish the Local Business sub-group of the Local Economic Forum to optimise UKSPF and other funds and to provide interventions which support local businesses to thrive, innovate and grow. This includes collaborating (where appropriate) with other places and may involve segmenting the South Kesteven business population to focus on specific interventions to best meet local business need.
• Supplement engagement with the Local Economic Forum and sub-group by working closely with Town Councils and Business Clubs across the District to ensure a strong and consultative voice on all economic development issues.

Help to access financial support

• In collaboration with the Business Lincolnshire Growth Hub and other business support practitioners, assist organisations to find and apply for growth programmes to help businesses start, succeed and grow.

Sector support

• Present new programmes of sector support, coordinated and delivered by partners to promote fair access to careers across specific industries and to help identify partners and suppliers for programmes and projects.
• This includes introducing businesses and innovators to networking opportunities, such as (but not limited to) the Greater Lincolnshire Defence and Security Network, with a view to accessing defence-related supply chains, and to draw on Government funding to develop ideas, innovations and new products.

Invest in clean growth

• Tackle the challenge of protecting South Kesteven's economic and natural assets from climate change. Work in partnership with stakeholders to deliver projects meeting this challenge to mitigate the constraints imposed on the economy by climate change and reduce costs and maximise opportunities in the transition to net zero.

Social Value in procurement

• Capitalise on local development projects as opportunities for skills development and training and making sure what the Council buys, creates additional benefits for society.

Develop a small business concordat

• Draw up a statement of principles to encourage effective trade between the District Council and small and medium sized businesses. Publish on our website guidance for suppliers on how to do business with council and details of forthcoming bidding opportunities.

Host and support Meet the Buyer events

• Provide the opportunity for suppliers to introduce themselves to public sector buyers and private sector primary contractors to learn about new projects, contracts framework and supply chain opportunities.

Support start-up and step-up businesses

• Identify suitable sites and premises to enable people to start and grow their businesses. Provide good quality advice and access to finance and learning when appropriate. Support the education and skills system in ensuring people recognise starting their own business as a viable career option and equipping them with the skills needed to start and grow a business.

Profile business innovation

• Support increased levels of innovation activity through innovation institutions in key sectors such as advanced manufacturing, logistics and energy, and within businesses themselves.

Inspire, transform and sustain cultural change

• Support independent companies to realise the true potential of digital transformation, embrace new business models or implement new ways of working for those that have not yet embarked on transformation journeys.