Business Secretary Vince Cable met with Liverpool City Region LEP representatives this month. (Thursday 18 October, 2012)
The Business Secretary was welcomed by LEP Deputy Chair Asif Hamid.
Vince Cable joined LEP Board and Advisory Members to discuss access to funding and finance for SMEs, skills and the progress of the LEP. Specifically, what plans Government has to unlock access to funding and finance for businesses. Mr Cable talked about the banks reluctance to fund SME growth and gave an overview of the new Business Bank which is aimed to kick-start lending to SME businesses.
Mr Cable has asked the LEP for input into the development of the Business Bank identifying any gaps and possible approaches the Government can take. This is now being taken forward by the LEP Board.
The need to match up skills with employers was also discussed with emphasis on the importance of apprenticeships and the need for SMEs to work with those involved in Higher Education to ensure future employees have the right skills for the job market.
The Business Secretary also praised the recent announcement from Unilever and Liverpool University to build a research and development centre. This new campus facility will be built with a £33m grant from Government’s £1bn Research Partnership Investment Fund.
City Region Deals were also considered.
Earlier in the day he met with apprentices at Stork Technical Services and later led a discussion with local employers at Southport College about the benefits of apprenticeships to businesses.
The Business Secretary also visited RedX Pharma who secured funding from the latest round of Regional Growth Fund.