Up to £64 million funding from the regional budget is to be reprioritised on helping West Midlands businesses beat the credit crunch.

Liam Byrne, Minister for the West Midlands, announced the plans following a historic Cabinet meeting held in Birmingham, thought to be the first time the Government has met outside London or the Prime Minister’s country residence at Chequers since 1921.

The money comes from Advantage West Midlands’ existing £300 million budget but will be targeted at specific issues. Around £48 million has been earmarked towards a gap funding initiative aimed at encouraging commercial property developers back into the market, with a further £13 million allocated for a regional infrastructure funding programme.

A £2.75 million recruitment scheme is also on the cards, aiming to find jobs for 2,000 graduates in companies across the region. In addition, there will be increased capital investment grant support for SMEs.

Treasury Secretary, Yvette Cooper, said the package would help businesses overcome their current economic difficulties.

She said:

“The West Midlands, like every region across the world, is being affected by the twin economic problems of the credit crunch and the high oil and food prices.

“But the West Midlands economy has great strengths to help it get through the tougher times, thanks in part to the major public and private investment and local innovation we’ve seen in the past ten years.”

Mr Byrne added:

“Nothing knocks the Midlands down. The West Midlands faces the future with fantastic foundations – a can-do attitude, an economy £30 billion bigger than a decade ago and 100,000 people extra in work.”

Following the Cabinet meeting, Prime Minister Gordon Brown and a number of other ministers held a series of discussions with some of the region’s key figures.

Talks focused on the launch of the “The West Midlands Economy – A joint response to changing economic circumstances”, a report prepared by AWM on behalf of the Government.

The document outlines the national and local support available to businesses and consumers during what the Government describes as a period of “unprecedented challenges”.

Source: Birmingham Post, 08/09/2008
Thursday, September 11, 2008

It will be interesting to see in the future whether the promises live up to the hype. Having been inspired by the knowledge of associates around me to form a company specifically to gather knowledge, codify and disseminate it for the benefit of the Region 8 years later (and some wonderful work which no-one knows about) we reviewed our strategy according to the response/communication with the "strategists" which has been "nil" and 12 months ago directed our efforts to engaging with Europe.

We are being welcomed with open arms "come and work with us" !!
Why so many barriers in our Region? I am not the only one, I hear this cry occasionally when some brave soul puts their head above the parapet and also hundreds of times privately. When we have looked to apply for funding - only rejection - two projects with Europe immediately approved. Requests for meetings in our Region - rejection. If there is no channel of communication what hope is there?

Our work in the West Midlands has mainly been around the Third Sector and we hear that this is to be the main stay of the UK economy. Really !! We are the third sector - not for profit - and in that respect we will only survive if we can overcome the barriers and help ourselves. Yet still we, on virtually no income, manage to help others in the same boat.

Is anyone really listening? Very disillusioned.!!!
Saturday, September 13, 2008