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Regionally-focused recovery strategy needed to promote future economic growth


Luke Davis, CEO of IW Capital, discusses the importance of a more tailored post-lockdown business support strategy


As the nation plans its post-lockdown recovery strategy, it has become ever more important to understand the different regions andsectors throughout the UK, how they have faredandwhat will work best for them. This points towards the need for a more tailoredform of regional support in order to promote future economic growth that works for everyone andsupports businesses up and down the country.


The Confederation of British Industry has urged the government to work with businesses to best identify economy-critical factors to its roadmap out of the latest COVID- 19 lockdown in England. But for this to work, the government needs to focus on the needs of each individual region and sector, and cannot take a blanket approach to the nation’s recovery.


Covid has perpetuated an already crippling problem, with the regional funding gap widening to £3.1billion here in the UK, highlighting the disparity of investment throughout the country, so it is imperative that the regional funding gaps are addressed in order to tackle the long-term issues facing the UK. In order to enable sustainable recovery post-lockdown, certain areas need to


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be addressed, such as whether there will be a new tiered system put in place, which regions will be affected and what businesses will be able to trade. From this, a more tailored recovery strategy can then be implemented, which will be the most effective way of supporting businesses as lockdown restrictions ease and a step in the right direction for wider economic recovery and future growth.


Luke Davis, CEO of IW Capital:


“The tactics that have worked in London and other major cities are not always transferable to other regions, further highlighting the need to tailor our support and recovery strategies to the needs of each region. One way IW are looking to do this is by employing regional investment directors to better understand each region’s individual needs and cater to them. Aone size fits all approach will simply not work and the best way to support our economy is from the ground up in a way that works for everyone.


“Ultimately, resilient businesses around the capital, who are flush with funding options, will find a way weather the storm, but the entities that will suffer are regional, coastal and businesses that serve their local


| March 2021 | www.draintraderltd.com


communities. These businesses are central points of regeneration for devolved economies to grow post-pandemic, and for that reason decentralising funding pots across the UK and away from the capital is of paramount importance.


“Investors need to start looking outside of London and into the north and other regions where there are a number of great investment opportunities. Here at IW, we are doing just that with Rockwater in Hove where we have raised a significant amount of investment from the local community and Transcend in South Wales.


“Making growth investment more easily available to small businesses within this sector that are looking to grow should be a priority. The last time that the Government-backed EIS was extended, it resulted in a significant jump in private investment into small businesses. Replicating this effect with new, or increased, incentives would provide a much needed boost to a section of the economy that is most in need, and so we hope this will be addressed in the near future.” If you would be interested in speaking to Luke about this topic or if you have any questions at all, please don’t hesitate to get in touch.


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