Did you know that the East (Norfolk and Suffolk) contributes over £35 billion every year to the UK economy? Since 2010 our economy has grown by 9%, outstripping many ‘powerhouse’ areas. With more than 66,000 enterprises and world-renowned centres of research and innovation, the East is the second fastest growing area for high-growth firms in the UK. It is a fact that investment here delivers growth.
We have a great opportunity with our high-growth sectors – clean energy, agri-food and ICT/ digital to supercharge our economy. Your business can benefit from this by tapping into the business support networks, sourcing funding and connecting with people across sectors.
The East’s economic strategy clearly outlines our potential, ambitions and objectives. To underpin our ambitions and make sure we set the right priorities, we have developed a detailed and accurate understanding of our economy and business base.
Based on the strategy, the LEP is producing a delivery plan with key partners to help increase investment in our area, drive productivity and help firms move into new markets and products. One of our key roles is providing funding and grants, and through the New Anglia Growth Hub advise on tax, R&D, attracting skilled people and legal requirements to take businesses forward.
Since the LEP started seven years ago, business grants awarded by New Anglia LEP and the Growth Hub have passed £20m, created 2,400 jobs and attracted £160m private investment.
We are working closely with public and private sector partners to:
• Deliver grant programmes and support achieving growth, innovation and productivity.
• Lead a cross sector ‘trade global, supply local’ campaign opening up supply chain opportunities for local businesses.
• Prioritise digital and physical infrastructure projects.
• Provide improved access to finance and assist business capability in identifying skills deficits.
• Establish new centres of excellence to improve productivity and innovation, providing new skills for business leaders and employees.
Achieving these ambitions will put our area, neighbouring counties and the UK in good stead for continued sustainable growth.
We can make this happen but we need your involvement and commitment. Great or small, all businesses can play their part in this. Grab this opportunity to make the East of England the best place to meet aspirations and do business.
Business support and advice
Businesses in Norfolk and Suffolk can access a wide range of grants and funding through New Anglia LEP. We have grants from £1,000 to £500,000 to support business development and growth.
To discuss grants and finance for your business, contact the New Anglia Growth Hub for free and impartial advice. We can also offer loans to kick-start infrastructure projects through our Growing Places Fund, and equity and investment through New Anglia Capital.
New Anglia Growth Hub
Need a trusted opinion on tax, growing your business, how to attract more skilled people or to better understand legal requirements? Get in touch with the New Anglia Growth Hub. Each area of Norfolk and Suffolk has an expert adviser who can help.
Felaw Maltings, South Kiln, 42 Felaw Street, Ipswich, Suffolk, IP2 8SQ
Gathering evidence to help support business
We are also seeking your views how Brexit might impact your business or supply chain, both positively and negatively. The more we hear from business, the more able we are to sharpen our business support accordingly and it gives us a louder voice when discussing crucial aspects of Brexit nationally.
Brexit checklist – www.newanglia.co.uk/brexit
New Anglia LEP has a checklist on its website to help you get Brexit ready.
The East is home to:
• BT’s Global Research and Development HQ at Adastral Park near Ipswich
• UK’s ‘All energy Coast’ contributing £35bn to UK plc
• Port of Felixstowe handles over 40% of the UK’s container traffic
• World leading life science at Norwich Research Park
• Cambridge-Norwich Tech Corridor with a £27bn economy
• Centre for Environment, Fisheries and Aquaculture Science (Cefas) – world leader in marine science and technology, providing innovative solutions for the aquatic environment, biodiversity and food security
• Over 250 hectares designated as Enterprise Zones – with great business support and opportunities