Local Enterprise Growth Initiative LEGI

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Local Enterprise Growth Initiative (LEGI)
CROYDON - CONNECTING TO OPPORTUNITY
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DISCONNECTED ECONOMY
What is LEGI?

• Strong Town Centre but lower level of
  enterprise in other parts of the borough
• 2nd lowest self employment rate of eligible
  boroughs in London
• VAT registrations falling. 5th lowest in London
• Low growth in small firms in Croydon compared
  with London average
• Skills base
• High proportion of low skilled compared with
  other boroughs
• Worklessness levels in target populations

• LEGI is an enterprise programme that will provide
  a range of services (training, advice and
  support) and facilities to
• Increase entrepreneurial activity
• Encourage existing business growth
• Reduce business failure
• Attract new businesses
• Encourage inward investment
• Provide local employment opportunities

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DISCONNECTED ECONOMY
ISSUES

• Strong Town Centre but lower level of
  enterprise in other parts of the borough
• 2nd lowest self employment rate of eligible
  boroughs in London
• VAT registrations falling. 5th lowest in London
• Low growth in small firms in Croydon compared
  with London average
• Skills base
• High proportion of low skilled compared with
  other boroughs
• Worklessness levels in target populations

• Business Environment
• Businesses relocating outside of Croydon
• Negative images of neighbourhood renewal areas
• Perceived crime levels
• Built environment and facilities available
• Limitations on supply chain
• Lack of enterprise culture

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ISSUES
ISSUES

• Enterprise culture
• Running own business not seen as an option
• Lack of role models
• Target groups lack access to resources and advice

• Business Growth
• Lack of
• premises
• suitable advice
• finance
• Lack of access to customers
• Lack of management skills,
• Lack of suitable staff

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OPPORTUNITIES

• Town Centre construction, office accommodation,
  supply chain.
• East London Line for Crystal Palace,
  South Norwood, West Croydon
• Crystal Palace developments
• New Addington Central Parade
• Business Link advise services overhauled
• South London Innovation Centre
• Olympics 2012
• Investment in Skills

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ISSUES
Croydons LEGI target areas
Index of Multiple Deprivation 2004,lower super
output areas

• Enterprise culture
• Running own business not seen as an option
• Lack of role models
• Target groups lack access to resources and advice

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Main Elements of Croydons LEGI Bid

• LEGI Outcome 1 Increase total entrepreneurial
  activity among the population in deprived local
  areas
• LEGI Outcome 2 Support sustainable growth and
  reduce the failure rate of locally owned
  business in deprived areas
• LEGI Outcome 3 To attract appropriate inward
  investment and franchising into deprived areas,
  making use of local labour resources

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OPPORTUNITIES
ENTREPRENEURS OF THE FUTURE

• Town Centre construction, office accommodation,
  supply chain.
• East London Line for Crystal Palace,
  South Norwood, West Croydon
• Crystal Palace developments
• New Addington Central Parade
• Business Link advise services overhauled
• South London Innovation Centre
• Olympics
• Investment in Skills

• Children and Young People
• Boost existing programmes for 14-18 year olds in
  neighbourhood areas
• Develop programmes for 8-13 year olds

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BUSINESS RETENTION AND INWARD INVESTMENT
AWARENESS RAISING AND ENTERPRISE DEVELOPMENT

• Enterprise awareness raising for people of
  working age in the neighbourhood renewal areas
• Additional targeting
• Young people not in education, employment or
  training (NEET)
• Lone parents
• Disabled people
• People from minority communities
• People on Invalidity Benefit

• Encourage relocation of firms to Croydon
• Retain existing businesses
• Encourage franchises into target areas as a
  method of inward investment
• Encourage greater local purchasing to boost local
  small businesses
• 7.1m

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AWARENESS RAISING AND ENTERPRISE DEVELOPMENT
PROMOTE SOCIAL ENTERPRISE

• Enterprise awareness raising for people of
  working age in the neighbourhood renewal areas
• Additional targeting
• Young people not in education, employment or
  training (NEET)
• Lone parents
• Disabled people
• People from Black and Asian minority communities
• People on Invalidity Benefit
• 4.6m

• Build on existing high level of interest in
  developing new social enterprises
• Support the Healthy Living Centre in London Road
  as a Social Enterprise Resource Centre

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BUSINESS SUPPORT AND NETWORKING

• Creating an effective network of advice agencies
• Encouraging business clusters

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BUSINESS SUPPORT AND NETWORKING
MENTORING AND ROLE MODELS

• Identify mentors to support new start up
  businesses.
• Development of Knowledge Angels

• Creating a virtual network of advice agencies
• Encouraging business clusters
• 3.9m

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FINANCE FOR BUSINESS
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FINANCE FOR BUSINESS
SKILLS

• Skills to start up and manage a business
• Skilled labour to enable a business to grow
• Equipping people with skills to take up
  opportunities e.g. construction

• Finance for Start Ups
• Access to banks
• Creation of Loan Funds
• Finance for growth
• Access to growth funds
• 9m

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ENTERPRISE CENTRES

• Three Enterprise Centres to provide
• low cost start up accommodation
• Advice on site
• Hub to support home workers
• Base for enterprise awareness
• Norbury Manor - Business, Enterprise and
  Education Centre
• South London Innovation Centre

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ENTERPRISE OPPORTUNITY CENTRES
PREMISES AND PLANNING

• Three Enterprise Opportunity Centres to provide
• low cost start up accommodation
• Advice on site
• Hub to support home workers
• Base for enterprise awareness
• Norbury Manor - Business, Enterprise and
  Education Centre
• South London Innovation Centre
• 8.5m

• Improved planning advice
• Speeded up planning processes
• Support to create suitable premises for the
  market including short lets

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DISTRICT CENTRES

• Provision of District Centre Managers across the
  borough to
• promote business development
• market the district centres
• Creation of Development Plans to identify
  opportunities and attract new businesses.
• Develop BIDs ( Business Improvement Districts)

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DISTRICT CENTRES
PRIDE Contribution

• Establishing pride in Croydons neighbourhood
  renewal areas
• Engage local people as ambassadors
• Reduce crime, improve the environment
• Change any negative perceptions
• Marketing campaign
• International marketing opportunities

• Provision of District Centre Managers across the
  borough to
• promote business development
• market the district centres
• Creation of Development Plans to identify
  opportunities and attract new businesses.
• Develop BIDs ( Business Improvement Districts)
• 2.3m

I Love Croydon
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BUSINESS RETENTION AND INWARD INVESTMENT
BUSINESS RETENTION AND INWARD INVESTMENT

• Encourage relocation of firms to Croydon
• Retain existing businesses
• Encourage franchises into target areas as a
  method of inward investment
• Encourage greater local purchasing to boost local
  small businesses
• Opportunities for procurement and supply chain to
  new developments

• Encourage relocation of firms to Croydon
• Retain existing businesses
• Encourage franchises into target areas as a
  method of inward investment
• Encourage greater local purchasing to boost local
  small businesses
• 7.1m

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What is the delivery mechanism?

• Local Authority Accountable body
• Croydon Business Main delivery partner
• Partnership Advisory Groups
• Involvement of local businesses and beneficiaries

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How much funding is available?

• 77M over 10 years
• First three years funding agreed 20.3M
• Match funding (up to 75M over 10 years)
• Learning and Skills Council
• Neighbourhood Renewal Funding
• London Development Agency
• EU funding
• Private sector

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What can LEGI offer a local resident or existing
business?
Connecting to Opportunity programme
Local business
Start up advice and support
Start up finance and premises
Growth finance and suitable premises
Access to skilled staff
Skills training
Workforce development
Employment
Access to bigger markets
Links to employers
International markets
Local resident
Improved and safer environment in target areas
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Further Information?

• Please contact us via
• www.croydonbusiness.com
• 020 8686 2233
• info_at_croydonbusiness.com