Plan to get Bucks' economy back up & running
It's thought the county could recover faster than other parts of the UK.
It's thought Buckinghamshire's economy could recover from coronavirus faster than other parts of the UK.
That's from those helping to put a plan together to get companies back on their feet.
They will look at how businesses responded, how they can recover and how the community could rebound into the future.
The plan will build on the foundations of the Bucks LEP Local Industrial Strategy (LIS) published in 2019, but will prioritise those issues which the LIS did not address - especially how to restart the economy in a Covid-19 safe manner, in line with government guidance.
From the beginning of the Covid-19 crisis, Buckinghamshire LEP together with its Growth Hub Buckinghamshire Business First, have been monitoring and sharing insight from the Buckinghamshire business community.
This insight has been used to inform BEIS and other government departments and to provide information for local partners including the Buckinghamshire Council and Health Authority.
The impact on Buckinghamshire so far is largely in line with the national picture. The most recent local labour market analysis (by the Joseph Roundtree Foundation) suggests that Buckinghamshire might recover more quickly than other parts of the UK.
Buckinghamshire's strategic growth sectors - high performance manufacturing, creative industries, space, med-tech - are likely to be resilient in the medium to long-term.
The Local Economic Recovery plan is be based on three timescales: the Response phase - providing immediate support for businesses directly affected by the crisis; the Renewal phase - supporting businesses to adapt to the new conditions and capitalise on new opportunities brought about by the recent changes; and the Rebound phase - identifying the main investments that will stimulate the Buckinghamshire economy to build back stronger and more resilient.
Andrew M. Smith, Chair of Buckinghamshire Local Enterprise Partnership, said:
"The Economic Recovery Plan will be one part of the wider place-based recovery plan for Buckinghamshire, with this plan spearheading the economic and business recovery but being complemented by plans for health and social care, community wellbeing and the environment and infrastructure, as part of the overall recovery model for Buckinghamshire. We therefore welcome feedback from businesses on our plans to build a strong and prosperous Bucks."
Buckinghamshire LEP would like to hear your views about what you would want to see in our Economic Recovery Plan, which of the points highlighted in the framework document is most important to you and your business or is there something we have missed? Please note the closing date for the consultation is the 7th September.