A report into private investment in the North of England has identified how the North can help ensure a strong and speedy economic recovery.
The report was produced by the Northern Way, a unique initiative which brings together the cities and regions of the North of England so that they can work together to improve their economic development.
Tribal director Martin Crookston was a member of The Northern Way’s independent private investment commission which identified recommendations and actions for increasing the flow of private sector investment.
The report sets out the commission’s final recommendations and the actions needed now by government, industry and the regions to ensure that the North will benefit when confidence in the economy returns and investment begins to flow back to normal levels.
Whilst The Northern Way and northern regional development agencies have been the catalyst for this report, the recommendations and conclusions are relevant to other regions.
It became clear following consultation with leading private and public sector representatives that the commission’s efforts and expertise was best focused on addressing four key areas.
These areas are:
- leadership - how local leaders can create a good reputation with investors and produce the best conditions for private investment
- financial innovation - how private investment in regeneration can be maintained and enhanced by new financial models
- partnership - how the private sector can become a better partner in meeting transport, e-connectivity and energy challenges
- private equity - how a stronger flow of external equity investment can be secured for small and medium sized businesses.