For local authorities and LEPs a number of issues, such as devolution, Brexit and the end of central government funding, are making the challenge of fostering local growth both more critical, and much harder. Although the central problem remains the same – how can we retain, grow and attract businesses to our region – articulating and evidencing a regional “proposition” to business and those who are advising them is becoming more important than ever.
One of the keys to successfully articulating and evidencing why businesses should invest in your region is having a really good understanding of what is currently driving your local economy. Understanding which sectors make your region unique, and which industries represent the best potential for development, puts you in a far better position to demonstrate to businesses how they would benefit from being in your region.
Today sees the launch of our new webpage – Local Sector Strengthfinder –, which aims to show how data can play a key part in this. Drawing on the work we have done this year creating “industry clusters” (see here and here), the aim of the page is to show how this insight can help you better understand the dynamics of your local economy, and so be better placed to articulate a strategy for retaining, growing and attracting business in your area.
The page includes:
- An interactive chart and free report identifying your region’s industry clusters and how they are ranked according to job numbers and Location Quotient
- Visual examples of how the industry cluster data can be used to identify strengths, opportunities and threats in your region
- A downloadable guide to the methodology and uses of industry clusters
- Ideas on how you could use the data to build a solid growth strategy in your region
So why not take a look, either by clicking here or on the image above, and let us show you how we can help you retain, grow, and attract business in your region.