Talking Point: No talking shop
A recent statistic claimed that 80 per cent of businesses do not know what a local enterprise partnership (LEP) is.
That is probably true - neither did I until a few months ago - but it is something that will certainly change over the coming weeks and months.
LEPs are a key government tool for driving the economy forward and have been formed in the wake of the decision to wind up the regional development agencies.
They are partnerships between the private and public sectors and have to be business led. They are, quite simply, aimed at removing the barriers to growth.
I have built a £120m business in Warwickshire and was educated in the county and therefore have a strong vested interest in its future.
It was really as a result of those factors that I put my hand up in a meeting and am now the chairman of the Coventry and Warwickshire LEP.
We are less than a month old but already we have a fully-formed board which is taking decisive action.
Membership of the board is divided equally between the public and private sectors with representatives from regional and national business along with our two universities and local authorities.
I think it is fair to say that it is the first time that we have ever sat down to discuss common aims and, more crucially, the way we can achieve them in a positive, collaborative fashion.
It has, I think it is fair to say, been an education because - out of necessity - we work in different ways.
But it is really energising to see that the LEP in Coventry and Warwickshire is already making great strides.
We have asked businesses right across the city and county for their top priorities, we attracted 150 companies and organisations to a meeting at 7am to talk about the aims of the LEP and already we are taking action.
Access to finance is a perennial “issue” for businesses. As it is so frequently aired we have formed a finance group made up of the leading banks in our region.
It has met and has agreed some set deliverable targets which will make a tangible difference to businesses. We will not be a talking shop.
Groups in construction and planning, tourism and leisure, and high-tech manufacturing have already been formed and will make similar progress.
We have a fully operational website which logs our progress and allows businesses to give feedback.
It is early days. We were one of the first LEPs in the country to have a fully formed board up and running but I believe the signs are very positive.
I know that many in the private sector will be very sceptical about organisations like LEPs but this is a one-off opportunity for us to really shape the economy of our different areas.
There are big hurdles to overcome - funding being one of them - but there are hurdles in building anything worthwhile and we all know that in business you simply have to overcome them.
So I would urge business people, in whichever part of the Midlands, to get involved. If we fail to take action we cannot complain if the outcome does not suit us.
Denys Shortt is chief executive officer of DCS Europe and chair of the Coventry and Warwickshire LEP
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