Promoting entrepreneurship in deprived urban areas

1. Promoting entrepreneurship in deprived urban areas UKTI mission, Prague, 24th January 2006

2. Introduction • GLE • Scope of our activities • Focus on entrepreneurship promotion

3. Greater London Enterprise (GLE) • London’s economic development company • Established in 1982 • Owned by 33 London boroughs • Unusual status: Private company / Publicly owned • Non-profit-distributing company • Do not receive any subsidy • GLE in England (London, Manchester, Birmingham), in Brussels, and in the Czech Republic

4. GLE activities • GLE Properties (managing and developing commercial accommodation for small businesses) • GLE enterprise development (developing and delivering innovative approaches to enterprise and community development) • GLE Programme Management and Consulting(Social integration and employment projects, SF programme and project development and management, economic development research) • GLE Commercial Finance (providing cashflow, development and asset finance for SMEs together with a range of financial management and payroll services)

5. Promoting entrepreneurship • Business Advice Services - through enterprise agencies and training • Specialist support to high growth, technology-based businesses (Ready 4 Growth Project) • SMEs Internationalisation • Self Employment Initiatives • Promoting entrepreneurship in deprived urban areas: The European Learning Network – LNet • The Local Enterprise Growth Initiative – LEGI • Promoting entrepreneurship at schools • Small Business Loans for both start up and growth businesses

6. Business Advice Services • Important role of local enterprise agencies in the UK • GLE runs local business support agencies in South London • Promotes entrepreneurship to unemployed people, as well as to existing businesses • Training, 1:1 support, business plan development, mentoring services, specialist refugee programme • Links with all main stakeholders

7. The European Learning Network (LNet) • Led by GLE • Involves 5 major EU cities • Co-funded by INTERREG IIIC Initiative • Exchange experiences and good practices on how to promote entrepreneurship in deprived urban areas • Collects case studies, work on toolkits for practitioners • Looks into project transferability • Influence enterprise policy making • www.thelearningnetwork.net

8. Promoting entrepreneurship at schools • Enterprising Youth programme • 2 – year programme, started in 2004, initiative of DFES, led by GLE • The programme focused on: • Setting up an enterprise • Softer skills such as self-analysis, selling skills, relationship management, decision-making • Planning, leadership and management skills • Result: 10 students now run a publicity company - Teen Vibes Publicity (TVP). Support from GLE to run the school newsletter

9. The Local Enterprise Growth Initiative – LEGI • New UK government Initiative • Aims: - To increase entrepreneurial activity in deprived areas; - To support the sustainable growth and reduce the failure rate of locally-owned business in deprived areas; - To attract appropriate investment and franchising into deprived areas, making use of local labour resources. • Funding: £300 million for the first 3 years and then £150 million per year • All local authorities currently in receipt of NRF are eligible for LEGI funding • GLE supports local authorities to get involved in LEGI

10. Entrepreneurship promotion in the Czech Republic • GLE could for ex. support Czech government: • to develop more local enterprise support services • to develop business support/development strategies • to provide better access to finance for start-up and growing SMEs • Cooperation projects between Czech and UK schools • Training in business support and entrepreneurship promotion to Czech authorities

11. Contacts • In London: Madeleine Williams, Managing Director: madeleine.w@gle.co.uk • In Prague: Nathalie Guri, Consultant: nathalie.g@gle.co.uk and (00420) 720 413 962

12. Thank you for your attention! Děkujeme za pozornost