Minutes:
(Cabinet Member with Special Responsibility Councillor Hamilton-Cox)
Cabinet received a report from the Director of Economic Growth and Regeneration which proposed a package of business support measures to help local businesses recover from the impact of the coronavirus crisis and initiate rebuilding of the local economy.
The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:
Option 1: Approve the proposed business support measures
Advantages: This will allow business support services to be provided quickly and flexibly in line with business needs Short, medium and long term positive impact on the local economy. Opportunities to deliver CWB, green and social value outcomes
Disadvantages: The council’s resources would be under less pressure. Other than that, no obvious disadvantages as the overall approach is designed to adapt to needs
Risks: No obvious risks
Option 2: Do not approve the proposed business support measures
Advantages: The council will save on the costs of providing business measures
Disadvantages: Loss of opportunity to protect the local economy. Council resources will be less under pressure
Risks: Risks to businesses in the district will not be reduced
The Officer preferred option is Option 1 on the basis that the business support programme can be in place very quickly and is flexible enough to adapt to business needs going forwards.
Councillor Hamilton-Cox proposed, seconded by Councillor Frea:-
“That the recommendations, as set out in the report be approved.”
Councillors then voted:-
Resolved unanimously:
(1) That the broad framework for the Council’s support measures is approved in order to help local businesses survive the coronavirus crisis and assist as many as possible to go on to recovery and increased resilience.
(2) That the initial financial allocations are approved but that a review of these is undertaken later in 2020 to take account of emerging business needs.
(3) That, to enable progress and ensure help is available to businesses quickly, delegations for distribution of the funds are approved as follows:
· Up to £50k – Director for Economic Growth and Regeneration to decide after consulting with relevant portfolio holder or most suitable Cabinet member
· £50 - £150k – Individual Cabinet Member
· Over £150k – Cabinet.
Officer responsible for effecting the decision:
Director for Economic Growth and Regeneration
Reasons for making the decision:
The approach is focused on helping business to survive now but also to adapt and develop in order to recover from the crisis and remain resilient in the future. Some grant funding is included for those businesses that have been unable to access other funding support at all and linked to business recovery and resilience, research and development and to projects that benefit a number of local businesses, such as digital and workspace. The intention is that it will be clear what the Council’s funds will achieve.
The decision is consistent with the Council Plan:
Ambitions
· A Thriving and Prosperous Economy
Create strong conditions for growth so that businesses thrive and jobs are created
With our partners, deliver major regeneration and infrastructure projects
Support development of new skills and improved prospects for our residents
Ensure that growth is good for all, and increased wealth benefits our local communities
· Clean, Green and Safe Neighbourhoods
Use innovation, technology and partnership with others to help improve the efficiency of services, improve customer satisfaction and reduce our impact on the environment
Corporate priorities
Climate Action
Taking action to reduce the effects of climate change on our district Community Wealth-Building
Building a sustainable and just local economy that benefits people and organisations Community Engagement
Drawing on the wealth of skills and knowledge in the community and working in partnership