Entrepreneurship and International Trade
I recently attended the first meeting of the Coast to Capital LEP (Local Enterprise Partnership). The grouping is one of many LEPs formed to replace the role of the RDAs (Regional Development Agencies). Unlike the extended role of the RDAs, the focus is very much on the economy and stimulating prosperity.
The Coast to Capital LEP covers:
Croydon
Brighton and Hove
Gatwick Diamond Economic Sub-Region (Crawley, Horsham and MidSussex within West Sussex; Reigate and Banstead; MoleValley and Tandridge within Surrey)
West Sussex and its other four district councils
This particular grouping was very well received by central government, who have approved LEP coverage for most of the country. We are fortunately not within the 20 per cent of the country who remain LEPless.
Key priorities are enterprise and entrepreneurship, together with international trade. The aim is to encourage higher levels of enterprise and business formation and to significantly increase the number of firms trading internationally. By doing this, it is estimated that an additional 100,000 jobs can be created over 25 years along with increased output of £1.1 billion each year.
Some people would argue that many entrepreneurs are naturally that rather than created through life-time interventions. I believe that we actually have a mix of both sources and that we can do more to encourage entrepreneurship amongst those who would not intuitively apply that label to themselves.
Entrepreneurs who I have met and listened to are more likely to regard apparent barriers as challenging opportunities to be overcome and this suggests an existing mindset that can be encouraged, and an aspirational mindset whose features can be communicated to others. This implies an increased emphasis in education on the routes available to establish new enterprises but that alone might not be enough to increased business formation. We also need inspiration from role models to encourage the entrepreneurs of tomorrow. It is fundamentally a mix of education and inspiration. Education can make it more likely that new enterprises will succeed so that there will be more entrepreneurs to inspire those not yet born.
With accelerating technological advance making the world an even smaller place, it is important that enterprises can trade internationally with the minimum of bureaucratic intervention. While some of this remit lies with central government, the LEP can work to build confidence in the ability to trade internationally and dramatically expand markets for our locally-created products. Part of that confidence is around communicating the mechanisms and processes that enable international trade and inspiring newcomers through real success stories.
If the LEP can succeed with its two core objective, it will make a major contribution to sustainable prosperity for our part of West Sussex.
Councillor Bob Lanzer, Leader of Crawley Borough Council
17th May 2011