Agenda item

To answer questions submitted by Opposition Group Leaders on items on the agenda.

Question from Councillor J Walker to Councillor Brennan.

“How will this Council use the Business Rates Pool surplus to engage, support and then monitor the impact of the investment to the larger than national average number, of Micro businesses in the Borough?

Councillor Brennan confirmed that Micro businesses were a key part of the Borough’s economy, although in terms of Business Rates they only generated about 0.3% of the Council’s income. She stated that a good business mix was vital and that would be reflected in the Council’s first Economic Growth Strategy due to be published later this year. Micro businesses were very important and a valued contributor to the wealth and job creation within the Borough. Councillor Brennan advised that the Business Rates Pool surplus was not used directly to support Micro businesses; however, there were a range of other budgets and initiatives designed to benefit this important sector, which in turn supported the skills and supply chain required to benefit major growth sites and opportunities across the Borough.  Councillor Brennan stated that there were a number of teams in the Council, which supported businesses, various grant schemes, and that the Council serviced and supported the Rushcliffe Business Partnership, with over 1,500 members, who were mainly Micro businesses, which delivered various networking and engagement events. Councillor Brennan went onto list the considerable support provided:

·        In 2023/24 £170k was allocated through UKSPF/REPF to support 24 businesses.

·       £116k was allocated to the Rushcliffe Accelerator Business Support Programme, which provided one to one business support as well as workshops on a range of topics.

·       In 2024/25 £326k was allocated for business grants, £50k of this is for High Street Grants, to be launched in April 2024.

·       There was an allocation of £150k to support projects in town centres and to support the delivery of some of the outcomes of West Bridgford Accessibility Study, as well as recently commissioned retail reviews.

• £150k was allocated to people and skills activity in 2024/25, with some grants available to upskill employees as well as take on interns.

·        The Strategic Growth Board pot supported Ruddington and East Leake Markets.

• The Shop Front Improvement Grant supported around 27 businesses at a total of around £58k.
• There was a temporary High Street Manager role.
• Social media support for West Bridgford Way.
• A Bingham voucher book featuring local businesses, which was distributed to local residents.

·        The Council’s commercial estate, which mainly housed micro/small businesses was now 100% let and provided 111 units.

• The Council had attracted approximately £2.35m of funding for the 12 Bingham Arena offices and supported 67 jobs.
• £1.2m was secured for the 11 Cotgrave Industrial Units.

Councillor Walker thanked Councillor Brennan for her very detailed response and asked if there was any data on Micro businesses and how was it used?

Councillor Brennan stated that considerable research was undertaken by both the Council’s Economic Growth Team and working with the LEP.  She went on to say that given their scale, Micro businesses could be difficult to identify as they often did not engage, and work was being undertaken with the Rushcliffe Business Partnership to try and improve that and the new Economic Growth Strategy would need to reflect that Micro businesses made up a significant proportion of vibrant businesses in the Borough and to use that to try and draw in further investment.