Further to minute 33 (Council – 14 October 2013) and in response to a request from the Leader of the Council, the Strategic Director for Regeneration and Environment presented an overview of key investment strategy activity in respect of Small and Medium Enterprises and the future opportunities being undertaken to support SME’s growth. He indicated that SME’s accounted for 99.9% of all private sector businesses in the UK and were significant employers in the local Wirral economy. He highlighted the range of support services provided to SME’s by Invest Wirral, which had been positively received by SME’s with over 500 receiving advice and support.

He referred also to the Wirral Business Partnership having merged with the Wirral Chamber, a membership organisation that provided business support to its members. The Wirral Chamber worked closely with the Council’s Invest Wirral Team to provide a comprehensive business support service and it was hoped that the Wirral Chamber would join the British Chamber of Commerce organisation. He commented upon the importance of prompt payment to SME’s for goods and services, as cash flow and the ability to bank roll finance was usually limited. The Council had a target to ensure that 25% of SME’s were paid within 10 days and the Council’s Procurement Team were developing systems to ensure that the Council was doing all it could to support SME’s to maintain a positive cash flow.

The Strategic Director reported also upon the Public Services (Social Value) Act 2012, which had the potential to be a positive step for Wirral’s SME’s as, under certain circumstances, it required public bodies to consider how the services they procured might improve the economic, social and environmental well-being of the area. Work was ongoing to ensure the implementation of the Act, embedding it into Wirral Council’s processes and systems.

In terms of financial assistance to businesses, he referred to the success of the Council in securing £5m of Regional Growth Funding to support development in the Offshore Renewable Energy sector. As part of the programme, funds were available to businesses which were looking to move into the offshore energy market or who were looking to grow their business in this area. As part of the Liverpool City Region Local Enterprise Partnerships Regional Growth Fund, Wirral had also secured £10m to support SME’s in the Liverpool City Region (LCR) as well a further £5m to give smaller grants to businesses in the LCR. Wirral was working closely with partners to ensure that this funding opportunity was maximised for Wirral Businesses and that the benefits were felt for the people of Wirral.

Resolved –

(1)  That the range of activity taking place to maximise the opportunities for Wirral businesses, especially SME’s, to grow and create jobs within the borough, be noted.

(2)  That an update be presented to a future meeting on the strategic direction of travel in relation to support for Wirral’s SME’s to ensure they continue to be a priority for the Council’s Investment Strategy.

(3)  That a briefing note be circulated to Members in relation to –

(a)  How the target of ensuring that 25% of SME’s were paid within 10 days had been arrived at, why it had not been set higher and what targets had been set by other local authorities.

(b)  The Public Services (Social Value) Act 2012 and what it means in practical terms for the working of the Council.