Croydon backs businesses in beating the economic downturn

Published by Chris M for Croydon Economic Development Company Ltd in Local Government

Croydon's Economic Development Partnership (EDP) is developing a plan to support the borough's economy in the coming recession.

A group of key agencies have been asked to develop a plan to look at how businesses can be supported, how individuals who lose their jobs can be helped to access other employment opportunities or with retraining, as well as looking at ways that new businesses can be created and attracted to Croydon.

The group will listen to expert economic advisors and consult with businesses to identify what steps can be taken to support Croydon's businesses and residents.

Croydon has already been recognised as one of the best places in the country for agencies working in partnership to develop its economy. It has been short listed for the prestigious Beacon Award for this activity. The current economic climate however will really test the ability of Croydon's organisations to work together.

The Croydon Enterprise programme is already making changes to its business support services to meet the challenge of the coming recession and will place a greater emphasis on supporting existing businesses than helping people start businesses. Workshops now being organised have been adapted to include recession-beating advice. The hotline on 020 8680 6161 and the website http://www.croydonenterprise.com/ provide details of support available.

Aware that there is no time to lose, Brian Stapleton, Chief Executive of Croydon Business Ltd, has been asked to co-ordinate the plan, in conjunction with the other agencies in the Economic Development Partnership. These include the Council, Croydon Chamber of Commerce, Croydon College, Job Centre Plus and the Learning and Skills Council.

Discussions are already taking place with banks and other business agencies including the Federation of Small Businesses, Croydon Business Venture, Business Link and South London Business.

Tim Pollard, the Council Cabinet Member for Regeneration, together with John Strutt from BT, jointly Chair Croydon's Economic Development Partnership.

John Strutt said, "Next year will be a crucial time for business in Croydon. The business community needs to identify what help it will need, so that it can remain a major pillar of the London economy."

Tim Pollard said "Croydon is a major economic centre and the Council wants to keep it that way. We are committed to looking at ways it can help ensure Croydon remains a great place to do business."

It is expected that the plan will be produced in January.

Brian Stapleton said "I would like to hear people's views on what help they feel would be useful. This has to be a practical plan led by what businesses need. Comments should be sent to info@croydonenterprise.com