Page 246 - Minutes of meeting

Thematic SWOT – Skills and Enterprise Infrastructure

Five Defining...Strengths Five Defining...Weaknesses

1. Growing economy generating £1.53bn per annum and home to 1. Highly productive economy but the benefits are not spread equally
33,000 jobs with stark inequalities exhibited amongst the residential population

2. Export oriented economy driven by exports in machinery and 2. Dependence on large employers leaving the economy vulnerable to
transport external decision-making

3. Sectoral strengths in Barrow including high value manufacturing and 3. A low entrepreneurial culture and below average innovation activity
energy sectors, in addition to foundation sectors such as retail, public 4. Under-representation of higher level occupations and skills; and
admin, education and health
above average representation of lower level occupations at most risk
4. Strong intermediate skills base and associated investment in technical of automation and digitalisation
and vocational provision
5. Deep-rooted inequalities which limit life chances, health and
5. Improving education offer, continued investment in Further Education prosperity
provision and employer-led career inspiration activity

Five Defining...Opportunities Five Defining...Threats

1. Potential to enhance higher education provision in Barrow to attract 1. Macro economic factors including the uncertainties created by EU
and retain young people to the town exit, public sector spending decisions, and the impact of COVID-19

2. Securing investment in opportunity sectors including advanced 2. Demographic change is contributing to an ageing population in
manufacturing and energy and driving competitiveness through Barrow and a forecast decline in the working age population is
digitalisation, upskilling and innovation anticipated, tightening labour supply and placing pressure on services

3. Delivery of new employment sites and premises, including managed 3. Skill shortages and gaps undermining competitiveness of employers
workspace to support new business starts
4. A net out-flow of young people to access higher education who may
4. Secure inclusive growth through initiatives such as the Towns Deal to not return
ensure the benefits of economic growth are equally distributed
5. Technology and innovation are disruptive forces which Barrow need
5. Levering anchor institutions and the role of public procurement in to embrace to maintain competitiveness
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driving good growth outcomes