Suffolk Business Board reports major first year impact on growth, investment and skills

The Suffolk Business Board has published its first Annual Review, showing a year of clear and measurable progress for Suffolk’s economy.
Published: 16 Mar 2026

The Suffolk Business Board — the partnership of local business leaders and public‑sector partners operating under the Suffolk Economy brand — has published its first Annual Review, showing a year of clear and measurable progress for Suffolk’s economy.

Established by Suffolk County Council to bring together the county’s business community, education providers and public‑sector partners, the Business Board leads work to support local companies, grow skills and attract new investment.

Its first year has delivered practical benefits for businesses and residents across Suffolk, with strong results in business support, innovation, clean energy, inward investment and skills.

Highlights from the first year include:

  • £386k in Suffolk Economy Grants helped businesses adopt new technologies, raise productivity and create jobs — and unlocked £1.69m in private investment, a 1:4.4 match
  • Innovation Grant Mentoring provided tailored support to 562 businesses and leveraged £3.1m in R&D investment from just £477k of public funding
  • 36 early-stage tech founders supported through the Future Tech programme
  • 73 high-growth businesses supported through the North Star programme
  • Nearly 4,000 learning aims delivered to over 2,200 adults, with achievement rates rising to 87%
  • More than 1,000 young people supported through Thrive, with over 400 moving into jobs, training, education or independent living.

The Review places this work in the context of Suffolk’s wider economic performance:

  • 9.2% growth in Suffolk’s economy, with GVA rising from £21.0bn to £23.0bn
  • 9.1% drop in carbon emissions, exceeding the pace required to meet long-term targets
  • 3,200 more people joined Suffolk’s workforce in 2023–24, outperforming the national average
  • 8,100 more residents qualified to Level 3+ in one year, a significant step towards Suffolk’s 2045 skills ambitions.

The Review also highlights Suffolk’s nationally significant role in the UK’s clean energy transition, alongside continued growth in advanced manufacturing, digital, agrifood and life sciences.

Cllr Richard Smith MVO, Suffolk County Council’s deputy leader and cabinet member for finance, economic development and skills, said:

This first year shows just how much can be achieved when business leaders and the public sector work closely together. The Suffolk Business Board and the Suffolk Economy team have helped hundreds of local businesses try new ideas and grow, and thousands of people have gained skills that will help them progress. We’re also seeing encouraging signs across the wider economy – stronger growth, lower carbon emissions and more people in work. I want to thank everyone involved for their commitment and hard work. The Board has built strong foundations, and I wish it every success as this work continues.
An image of a man wearing a pale grey striped shirt smiling.
Councillor Richard Smith MVO

Mark Pendlington, Chair of the Suffolk Business Board, said:

2025 has been a year of progress and achievement as the public and private sectors have put energy, ideas and innovation at the heart of our dynamic plan to build a strong and sustainable economy. Across Suffolk, leaders in business, education, local authorities, the voluntary sector and in local communities have collaborated to drive clean, sustainable growth, boost skills and job opportunities, and strengthen trade and investment. We are a county full of ability to compete and win in UK and global markets and many local businesses are already leading by example. Collaboration and resilience are key as we continue to work together to build momentum, especially in uncertain times. On behalf of the Board, I would like to extend warmest thanks to all those who have contributed to driving progress this year, and we look forward to building even greater momentum with you in the year ahead.
An image of a man smiling wearing a blue shirt and a red tie.
Mark Pendlington, Chair of the Suffolk Business Board

The Review will be presented to Suffolk County Council’s Cabinet on Tuesday 24th March.