Agenda item

David Ayton-Hill (Assistant Director – Communities) summarised the following points: 

·       Milestones had been achieved in several projects  

·       The Small Capital Grant programme for businesses had provided a grant to its 100th business. This grant was to help small businesses grow. £2.3 million had been invested and this unlocked £4.5 million in private investment and 210 jobs in Warwickshire 

·       Businesses must match funds with their own contributions for the programme  

·       The Business Support programmes which helps businesses to start, grow and scale up businesses had helped its 1000th businesses since its inception in 2016  

·       Performance metrics will be available in April’s report 

·       Two new programmes were being launched: the Digital Creative Co-Investment Fund and Green Recovery Grant scheme. These were funded by leftover Covid-19 grants.  

·       The Digital Creative scheme helped small gaming industries access finance and get them marketing opportunities 

·       The Green Recovery scheme will help businesses who struggled during the pandemic with energy bills. This will include green energy grants e.g. solar panels to make them more energy sufficient 

·       Part of the WRIF includes the Business Investment Growth pilot, which provides large loans to businesses 

·       There is the Local Communities and Enterprise pillar, which is for small businesses and start-up enterprises 

·       The Property and Infrastructure Fund is the third element of the WRIF, and this provides loans to enable new employment on sites that could help investors provide infrastructure. This will be launched at the UK Real Estate Investment & Infrastructure (UKREIIF)event in May 2023  

In response to Councillor Jenny Fradgley, David Ayton-Hill stated that the companies who were awarded grants were worked with closely to help them succeed. Only a few businesses had to return their grants and only one business to date has failed and closed. 

Councillor Tim Sinclair informed the committee that there was a small digital exhibition at the Leamington Pump Rooms. In response to Councillor Sinclair, David Ayton-Hill stated that they were working on a new economic growth plan because the previous one was approved in February 2020. The finding of the peer review said that the new strategy should be for Warwickshire and not just WCC. Drafting around priorities and objectives was done and they focused on three core elements (inclusive growth and levelling up, prosperous growth, and sustainable growth). These themes will be populated and sent out for consultation with businesses. A draft will be ready in late March-early April 2023. 

In response to Councillor Marian Humphreys, David Ayton-Hill confirmed that the borough and district councils were worked with and were part of the different programmes, including the Business Support ones. Numbers may not look proportionate because there were more businesses in Stratford District then North Warwickshire. Work was done proactively to raise these numbers. Nuneaton and Bedworth Borough businesses were engaging least with WCC (although still good numbers) and WCC, the Growth Hub, the Chamber of Commerce, and the FSB (Federal of Small Businesses) were looking at different ways to reach out and engage businesses there, including a successful business ‘open day’ at Nuneaton & Bedworth Borough Council recently.  

David Ayton-Hill agreed to provide details on sessions held in North Warwickshire.   

In response to Councillor Dave Humphreys, David Ayton-Hill stated that there WCC focused on small/micro enterprises up to medium-sized enterprises. Work was done with larger ones if there were inward investment opportunities. Business Support programmes focus on small/micro start-up businesses, and they were reached indirectly and directly e.g. directly would be a marketing advert via social media or holding events. Indirectly would be through the Chamber of Commerce, FSB, or any other intermediary. There is a deficiency of smaller units for smaller businesses to use in North Warwickshire, so WCC were looking at opportunities to build smaller units to enable this.  

David Ayton-Hill noted it would be useful for committee members to push the message out that WCC would support smaller businesses cross-county.   

In response to Councillor Richard Baxter-Payne, David Ayton-Hill said that there were business advisors at WCC who could speak to businesses if there was not enough security for a loan. Any business who wanted a loan but who were not sure they could get one should contact WCC. 

The Chair suggested using the Communication Team to try and communicate with businesses in Nuneaton and Bedworth and North Warwickshire boroughs.