Page 136 - Barrow Town Deal Board Agenda 14/4/2020

Concept 9

Overview Concept Strengths:

Package of business support tailored to respond to ▪ Good alignment with strengthening, diversifying and creating a
identified gaps in current offer. Likely to include a more resilient economy
business recovery offer; innovation and digitalisation ▪ Market failure case for providing business support is set out
support; supply chain support; and social enterprise including strong evidence of need and rationale for investment
support.
▪ A review of business support will inform a tailored approach to
business demand but a targeted sector approach is set out

▪ Good practice to establish service within a Cumbria-wide
proposition

Project Name Business Support ▪ Strong impact on higher productivity and inclusive growth

Project Type Skills and Enterprise Concept Weaknesses:

▪ Impact of COVID19 may undermine appetite for enterprise and
Total Cost & TIP Funding TBD (£1.25m ask from TIP) funding for business recovery may come too late
Request Revenue
▪ Total project cost not determined and subject to a
Location Barrow-wide review/feasibility assessment
▪ Match funding sources not identified and aspects of the
Direct outputs SMEs assisted; entrepreneurs programme which can be delivered by identified TIP ask alone
assisted not clear

Wider impacts FTE jobs; GVA secured; new ▪ Dependencies on wider business support network and
businesses started; enhanced skills; effectiveness of existing delivery structures
increased innovation