Glasgow Business . 25
www.glasgowchamberofcommerce.com
the City Enterprise Board is a single-issue-focused body. Tat single issue is tackling the shortfall in Glasgow’s business base. What strategies can we put in place to tackle that? Especially when we know that the start-up rate does not appear to be the problem, it’s the early death rate. “What measures can we put in
place to help reduce the number of companies that go out of business in the second or third year of their life?” Councillor Matheson also
announced the creation of a series of Business Graduation Centres that will aim to support start-ups in their early years. Te centres, which will
provide follow-on support to that given in the first year of businesses, will offer rent-free accommodation, monthly business health checks and access to a team of mentors with specialist knowledge. Te first centre will be set up
through the eSpark initiative and will be based in an additional 6,000 square feet of office space donated by City Refrigeration
boss Lord Haughey. Another area identified for business support was for firms, including family businesses, which close because there is no obvious successor to the head of the business or because the owner is unable to sell it as a going concern. Councillor Matheson said:
“We can’t afford to lose these businesses. My administration will establish the Glasgow Business Transfer Loan Fund, a model developed in partnership with Strathclyde University. “Tis will provide a
£1 million loan fund to support entrepreneurs to purchase established going concerns and safeguard the future of jobs and services in our communities.” Te Council is also seting up a £500,000 Co-operative Business
Development Fund to encourage the seting up and growing of co-operative based businesses in the city. Mr Patrick said: “From our
perspective, it is good the City Council is puting in place these initiatives, such as the support for eSpark and the Glasgow Business Loan Transfer Fund. Tese are all part of a demonstration of intent to tackle these issues and we welcome that.” Shortly before the State of
the City Economy conference, it was announced that Glasgow has climbed seven places in the UK Competitiveness Index – up from 23rd place within the UK to 16th. At the State of the City
Economy conference, there was also discussion about the potential of a City Deal for Glasgow – the go-ahead for
“The most recent figures show 18,000 businesses in Glasgow. We will set a target to increase this to 20,000 by 2017”
which was announced subsequently by Chancellor George Osborne in his Autumn Statement on 5 December. Mr Patrick said: “In the City
Deal, we see the potential of being able to fund the programme set out by the Glasgow Economic Commission and which the Glasgow Economic Leadership Board is working on in each of the workstreams. “We have been very supportive
of City Deals because they are business infrastructure led, so they give a clear incentive to local authorities to invest in economic development and business infrastructure. It means that the investments they make will have been rigorously assessed for their contribution to economic growth which, in turn, leads to greater employment. “Manchester City Deal is
£1 billion-plus and it’s a revolving fund. If that’s the structure Glasgow City Council and its surrounding seven local authorities in the region adopt, then we’ve got to be enthusiastically supporting that.”
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