City Markets: Business location in deprived areas
Article
Boosting enterprise in deprived areas has been a recurring goal of government policy. But enterprise programmes have had disappointing results in deprived areas, and been poorly targeted. The Comprehensive Spending Review is now looking to rationalise and improve economic development and regeneration schemes.
This report will contribute to that process, looking at deprived areas according to their levels of business activity. It focuses on a group of 30 business-deprived areas - those Neighbourhood Renewal Fund (NRF) districts that have very low levels of business activity. Most are in the North-East (e.g. Sunderland) and the North-West (e.g. Oldham). Five are in London (e.g. Newham). Separately, a minority of deprived areas have relatively high levels of business activity (e.g. Preston, Leeds and Camden).
City Markets concludes that Business-led regeneration should focus on business-deprived areas but that the Government should subsidise business activity only where specific market failures exist, in proportion to those market failures and in line with local labour market and other conditions.
Centre for Cities has re-launched as an independent think tank. To purchase this book, please email admin@centreforcities.org. You can visit Centre for Cities online at http://www.centreforcities.org.
Related items
The health mandate: The voters' verdict on government intervention
The nation’s health is now a top-tier political issue.Reclaiming social mobility for the opportunity mission
Every prime minister since Thatcher has set their sights on social mobility. They have repeated some version of the refrain that your background should not hold you back and hard work should be rewarded by movement up the social and…Realising the reform dividend: A toolkit to transform the NHS
Building an NHS fit for the future is a life-or-death challenge.