Agenda item

8.1

The report provided the Economic Development and Skills Policy Committee with an overview of activity undertaken as part of the Business Recovery Plan: both in terms of what had been achieved so far and future proposed activity.

The new activity proposed in the report reflected the ambitions contained within the original Business Recovery Plan as well as the city’s response to the new challenges facing Sheffield businesses due to the cost of living crisis.  The report identified initial steps required to enable Sheffield City Council to support businesses through this period.

8.2

RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee Policy Committee:-

1.    Notes the progress made in delivering the Business Recovery Plan so far;

2.    Notes the effects of the cost-of-living-crisis on the business base and the Council’s response; and

3.    Endorses the Council’s priorities for the SPF business support programme.

8.3

Reasons for Decision

8.3.1

The Business Recovery Plan created a framework to support the city’s long-term recovery from the COVID pandemic.  The city now faces a new economic crisis.  Many of the interventions and initiatives set out in the Business Recovery Plan are still relevant to supporting businesses but new activity is also required.  The report set out how the Council is already responding to the crisis and puts forward proposals for new activity that will help to protect jobs and businesses and support new growth.

8.4

Alternatives Considered and Rejected

8.4.1

The Council also has the option to deliver these services through centrally delivered business support, rather than utilising the Business Information Officers in the district centres.  This has the following disadvantages:

·       It is less proactive on the Council’s part and relies on businesses making the effort to contact the Council.  The risk is that this leads to businesses in distress delaying their access to support and increasing the chance of unnecessary business closures.

·       This model also is more likely to miss out smaller businesses who do not have the networks or capacity to engage with business support and as a consequence may miss out on opportunities for growth.

8.1

The report provided the Economic Development and Skills Policy Committee with an overview of activity undertaken as part of the Business Recovery Plan: both in terms of what had been achieved so far and future proposed activity.

The new activity proposed in the report reflected the ambitions contained within the original Business Recovery Plan as well as the city’s response to the new challenges facing Sheffield businesses due to the cost of living crisis.  The report identified initial steps required to enable Sheffield City Council to support businesses through this period.

The Director of Economic Development and Culture explained that the report focussed on the Cost of Living Crisis and its impact on businesses.  The Business Growth Manager gave a presentation which provided an update on successful projects and what the Council was doing to help.

Tracy Viner, Executive Manager, Sheffield Chamber and Alexis Krachai, Chair, Business Response Group attended the meeting to answer questions from the Committee.

Members asked questions regarding the Business Support Officers, the impact of climate change and the help available for small businesses.  Officers responded that the Council was at the start of its business recovery journey and that whilst there was no financial help for businesses, the Council was able to look at how businesses were using energy and how they could reduce bills.

8.2

RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee Policy Committee:-

1.    Notes the progress made in delivering the Business Recovery Plan so far;

2.    Notes the effects of the cost-of-living-crisis on the business base and the Council’s response; and

3.    Endorses the Council’s priorities for the SPF business support programme.

8.3

Reasons for Decision

8.3.1

The Business Recovery Plan created a framework to support the city’s long-term recovery from the COVID pandemic.  The city now faces a new economic crisis.  Many of the interventions and initiatives set out in the Business Recovery Plan are still relevant to supporting businesses but new activity is also required.  The report set out how the Council is already responding to the crisis and puts forward proposals for new activity that will help to protect jobs and businesses and support new growth.

8.4

Alternatives Considered and Rejected

8.4.1

The Council also has the option to deliver these services through centrally delivered business support, rather than utilising the Business Information Officers in the district centres.  This has the following disadvantages:

·       It is less proactive on the Council’s part and relies on businesses making the effort to contact the Council.  The risk is that this leads to businesses in distress delaying their access to support and increasing the chance of unnecessary business closures.

·       This model also is more likely to miss out smaller businesses who do not have the networks or capacity to engage with business support and as a consequence may miss out on opportunities for growth.