Issue 5 - Sept/Oct2007 - South London Business

40 Area focus: Sutton
South London Business
That’s the Sutton I want...
Sutton has launched its first
Economic Strategy with the
vision: Sutton – best placed
for business.
The strategy has been designed
to help shape the future economy and to
support the businesses and people who rely
on the strength of the economy. A strong
economy will bring fresh opportunities both
for businesses and employees.
The vision and accompanying objectives
were derived following a comprehensive
research programme. The study included a
survey of more than 300 local companies
to explore barriers and constraints to
development, supplier and market links and
local economic drivers.
There are assets for the economy to
build upon. Presently businesses enjoy the
benefits of the post code – a green and
Sutton’s Economic
Strategy will benefit
local businesses
clean environment, open spaces, low crime,
excellent schools and affordable workspace
– whilst being able to access both a worldclass
city, London, an international airport
and sub-region, the Gatwick Diamond, both
within 25 minutes.
Sutton enjoys high employment and
a high quality environment in which to
live, work and play. However there are
challenges that the strategy needs to
address.
We seek to attract development to
Sutton, that will provide units that will
meet the demands of the retail sector and
also offices that are in keeping with the
standards required by large businesses, but
also of a size pertinent to 90 percent of the
businesses who employ workforces of 10
employees or less.
While Sutton has a proven reputation for
its educational achievements, employers tell
of high levels of basic skills requirements
and issues of employability, especially
amongst school leavers.
While boasting strong employment the
number of young people 16 to 24 year
olds not in employment, education or
training has increased. By seeking to provide
affordable and quality childcare, integrated
public transport and information, advice
and guidance services then we can add
these young people to the local labour pool.
Consultation with businesses in Sutton
had identified a low level of networking
and exchange of information. Evidence
suggests little collaboration or joint ventures
between companies, with business advice
being sought from traditional sources such
as banks and friends.
Businesses in the borough want to see the
promotion of business networks and local
business advisors as a priority for Sutton,
ensuring that local small medium sized
enterprises can access business support and
encourage synergy in the area.
The Sutton Business Forum has already
been launched and enjoys the close support
from the local Business Chamber and a wide
range of established business networks.
Hopefully the associated networking
activities will also help improve aspirations
and business performance of companies.
In addition Sutton will look to strengthen
enterprise amongst its businesses and
residents. A successful smartbiz exhibition
has already been held to encourage an
entrepreneurial spirit.
The success of the strategy depends on
the ability of key parties in the private
sector, local and regional government and
associated bodies, the education sector
and relevant community organisations to
work together. These parties need to jointly
identify those areas in need of improvement
and to which they can each contribute to
delivering solutions.