Access to Finance
"Businesses need better access to capital and investment funds. We need to develop new and innovative approaches to bring together public and private assets to generate 'joint venture' funding solutions".
1. To produce and adopt an integrated Black Country Offer Statement for investors which communicates advantages, strengths and unique qualities for future development and investment opportunities.
2. To investigate a number of existing and emerging funding opportunities and produce a sub regional funding database.
3. The Black Country LEP will have supported submissions to the Regional Growth Fund through the development and management of an approval process aligning potential projects to Economic Development Priorities.
4. Working in partnership across the sub-region and with Homes and Communities Agency, ensure that the RDA's assets deliver long term regenerative value for the Black Country and an agreement for taking them forward is in place by the agency's closure in March 2012.
5. A 5 year delivery plan for the Sub-region produced in draft form for the September 2011 LEP Board meeting.
6. By March 2012 the Black County LEP will have investigated the potential for an Evergreen Fund through the development of an expert panel and will have identified those assets which it believes can be used to initiate the fund.
BCLEP Board Lead: Paul Brown
Feedback to date highlights that there is a need for improved communication from the financing sector to companies with regard to their requirements and documentation leading to approval.
There is also a need to improve the responsiveness of companies to the changed world of finance and institutional demands.
The Black Country Reinvestment Society is supporting the LEP by working with potential partners on this area.