THE NIGHT-TIME ECONOMY


FOCUS FEATURE


So what ultimately needs to be done to create a


night-time economy that works hard for the UK both economically and culturally and adds to society, not detracts? What seems to be clear is that problems directly


associated with the night-time economy are not going away and need to be tackled, both to increase the confidence in the industry and to reduce both public and private costs that result from such problems. There is a strong argument to suggest that there needs


to be a heavy emphasis on central Government, local authorities, businesses and stakeholders working together to not just to minimise the effect of the ugly side of the night-time economy but also to accentuate the hugely positive side and to place an emphasis on how crucial it is as an industry on a number of levels. The need for collaboration is emphasised in Building a


vibrant night time economy, a report published by the Local Government Information Unit and Portman Group in July 2016. It states that “as local authorities begin the shift to full


A strong NTE can benefit investment and innovation


effect to the daytime economy. It states that “a thriving night-time economy has major benefits, not least the creation of jobs for young people, and a true 24-hour city could also ease pressure on attractions and other public services during the day. And there’s little doubt that providing a diverse, vibrant and safe nightlife is a big tourist attraction… from Liverpool to Manchester, Glasgow and London one only needs to look at the impact of having a strong and successful night-time economy to see benefits; new investment, innovation, culture and fun”.


business rate retention by 2020, the success of the local economy will increasingly become intertwined with councils’ ability to fund their services. In this context, the night time economy could either be a burden or an opportunity for councils. Much of the focus of existing projects in this space has been collaboration with local businesses – small and large, both retailers and venues – to present a united front to troublemakers and promote a safe recreational environment. This kind of hands-on partnership between councils and their local business community will become necessary across all departments going forward; and there is a lot of momentum within local authorities to bring the local economy into focus within its strategy. A mutually-beneficial project around the night-time economy could provide a great opportunity to start building those relationships on a positive footing and with a common goal”. We’ve all witnessed – be it first-hand or not – the good,


bad and ugly sides of the night-time economy. The onus will now be on an innovative, progressive and forward- thinking approach to ensure an industry that offers so much isn’t characterised by ugly scenes on the TV or in newspapers, but by the hugely positive contribution it makes, and can continue to make, on an ever-greater scale, to the UK.


business network June 2017 37


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