SSEP Conference Report

New Delivery Company for Economic Development, Regeneration and Culture

Swindon Borough Council Chief Executive Gavin Jones announced proposals for a new structure for the New Swindon Company, with changes that will integrate:

• economic development
• growth
• regeneration
• and cultural development.

In addition to these new responsibilities, Mr Jones confirmed that the New Swindon Company's geographical area would be extended to include all parts of the Borough, with the regeneration of the town centre and Old Town being a particular priority.

Mr Jones explained that the Government model, used to set up the current New Swindon Company, was no longer suitable for the needs of Swindon and that a more bespoke structure was now required. This also applied to future funding mechanisms, which will need to be more commercially focussed than the current model.

It is intended that the new structure will be fully operational by April 2010.

SSEP report

Rikki Hunt, SSEP Chairman, opened the main part of the Conference by providing an overview of this year's news and achievements. He reported that over 400 organisations are now involved in the SSEP, with 150 actively involved in key projects and individual sub-groups such as the Recession Task Group, the Investment Group and the Enterprise Group.

Ramona Derbyshire, Chair of the Enterprise Group, supplemented Mr Hunt's report by revealing the launch of a new web-based 'road map' for start-up and early stage businesses.

Swindon New Business Competition 2009

The New Business Competition winner has showed solid performance since they started trading. The business model offers a 'boutique' type approach as well as opportunities in larger services/products. They use locally sourced and Fairtrade products. The judges commented: "A very inspiring, credible and strong submission."

The winner received £3,000 - and two runner up got £1,000 each - along with free training and free membership of Swindon’s top business organisations for a year.

First place: Bloomfield Fine Food

Runners Up: Evershine Granites (UK) and Quicktime Skips

Economic report

Mark Saddleton, Head of Economic and Market Analysis at Nationwide, reported:

• Current recession is deepest since WWII
• Recession unexpectedly persisted into third quarter
• GDP is down 5.9% from its 2008 peak
• Lead indicators suggest that economy should resume growth in Q4
• Manufacturing and services sectors both expanded in October
• Fiscal deficit has reached unsustainable levels
• Significant tightening of fiscal policy expected after 2010 election
• Represents significant headwind to economic recovery
• Interest rates unlikely to change from current level of 0.5% for most of 2010
• Further out, the interest rate outlook is less certain:
• Quantitative easing could create more inflationary pressures than expected, necessitating sharper increase in interest rates
• If fiscal policy is tightened too dramatically, rates may need to stay low for longer

David Tester

David Tester, Founder of Air Semiconductor, gave a very interesting and amusing presentation on the highs and lows of trying to establish a ground-breaking semiconductor business in today's economic climate. Despite some initial 'techy' references, the audience appeared captivated by David's enthusiasm and experiences, including an account of his time with the CIA in an unmarked car!

Youth into Employment

With the focus on the plight of Young people (16 – 24 year olds) during the recession, National policy and local responses have targeted this segment of the population.

National policy includes:

Young Persons Guarantee:

• Future Jobs Fund (FJF)
• Routes into Work (RitW)
• Work-focused Training (WFT) – FTET for us
• Community Task Force (CTF) – ETF for us
• Backing Young Britain:
• Mentoring places
• Work Trials from day 1 of JSA claim
• Non Graduate Internships
• Graduate Internships
• Work experience placements
• Additional Advisory Support
• Group sessions

The SSEP through the Employment and Skills Board and their sub group, the Young People into Employment group (Chaired by Caroline Hallatt – Head of Corporate Responsibility, Nationwide) have formulated a Swindon response called Plan 500.

This 12-month plan will see:

• 50 more businesses linked to Diploma schools
• 50 employees achieving a work based qualification
• 100 new work experience employers in Swindon
• 100 quality work placements
• 100 new mentors for young people
• 100 people onto apprenticeships

created in Swindon. The call to action began at the SSEP Conference with local businesses invited to complete a “Backing Young Swindon” survey and make contact with the Young People into Employment group to see how they can contribute.

The conference concluded with a networking opportunity and a very tasty hot buffet lunch!