Economic development

Suffolk’s economy is our key priority

Suffolk County Council, working in partnership with public, private and voluntary sector organisations, can bring about real and tangible improvement to the well-being of communities by working on both sides of the economy: supporting the conditions for economic well-being and supporting businesses and citizens to grasp opportunities.

Our vision is to ensure that Suffolk’s economy and environment continue to meet the rising demands of the 21st Century in a sustainable fashion through the implementation of the new Economic Regeneration Strategy complementing the work of Local Strategic Partnerships and Local Economic Partnerships.

Suffolk County Council works on many diverse areas affecting the economic and social wellbeing of Suffolk and it’s people, for example:

• We have created and operate a network of business development centres that provide high quality office and workshop accommodation for start up and growing micro businesses at workspace centres across the county, located at Lowestoft, Leiston, Sudbury and Hadleigh;
  
  
• The latest workspace opened in 2004 and provides the first integrated centre for business, childcare and distance learning for Hadleigh. Workshop sizes vary between 14 and 70 square metres, with units offered on ‘easy in/easy out’ terms, avoiding the need for a significant up front financial commitment from start up businesses. Analysis has shown that start up businesses based in centres such as these have a higher survival rate (90% after 18 months against the national average of 60%);
  
  
• In partnership with EEDA, SDA and other agencies helped create  Foundation East (formerly Suffolk Regeneration Trust), a countywide community development finance initiative that lends money to social enterprises and small businesses;
  
  
• We direct clients to relevant business support/enterprise agencies such as Business Link , Suffolk Development Agency , Ipsenta , Menta , NWES and others;
  
  
• We have provided significant support in the creation and development of the new Urban Regeneration Company for Lowestoft and Great Yarmouth;
  
  
• Suffolk County Council is an active partner in the Haven Gateway – one of the fastest growing sub-regions in Britain that promotes port-based commerce and marine services;
  
  
• Suffolk County Council chairs a countywide partnership that examines the problems faced by rural retailers. This partnership group reports to the Suffolk Development Agency’s rural economy working group, enabling direct lobbying to take place on important issues.

For further information on the Economic Prosperity Delivery Partnership and its work please go to  http://www.transformingsuffolk.co.uk/partnerships/delivery-partnerships/economic-prosperity
 
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