The Covid crisis is likely to lead to increased occurrences of business failure, higher levels of unemployment, a greater reliance on self-employment, and many more in poorly paid part time jobs. People are at the heart of the issue – those whose businesses fail will need a parachute to enable them to land safely and rebuild, while those who lose their jobs will need help in differing ways. A range of welcome initiatives to offer support during the Covid crisis have been proposed by HMG, but these represent a starting point, not the end of the journey.
Local Authorities and LEPs now need to review LIS, Growth Hub and other economic development strategies/activities to meet the new economic landscape, address the needs of the people/businesses requiring most support, and plan delivery of appropriate services. Action to design and plan implementation of the required support is needed now.
Deyton Bell specialise in economic development and business support issues and have provided associated services to over 40 different LEPs and Local Authorities in recent years. We are already supporting every LEP across the East Midlands, South East and East of England on various Covid-19 and economic development issues. We believe there is going to be a huge need, and great demand for, post-Covid economic development and business support, and we would urge all involved to prepare the way for this asap to avoid delays.
Our Discussion Documents look at various issues involving the economic and commercial impact of Covid-19, and our thinking on the way ahead:
To discuss any aspect, please contact our Chief Economist and Director, Neil Darwin, via: email@example.com or on 07860 – 663234.
Alternatively, you can of course also contact any of our other Directors as follows:
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