Venue: South Yorkshire MCA, 11 Broad Street West, Sheffield, S1 2BQ
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Welcome and Apologies Minutes: Neil MacDonald, in the Chair, welcomed attendees to the meeting.
Apologies for absence were noted as above.
Tom Bousfield, Corporate Director Growth, Business & Skills was welcomed to the MCA and the Board. |
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Declarations of Interest by individual Members in relation to any item of business on the agenda. Minutes: None. |
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Urgent items / Announcements Minutes: The Board noted that, having taken on the role of Chair of the LEP, Richard Stubbs had resigned from the Business Recovery and Growth Board. |
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Public Questions of Key Decisions Minutes: None. |
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Minutes of the Previous Meeting Minutes: RESOLVED: That the minutes of the meeting held on 9th February 2023 be agreed as a true record. |
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Matters Arising / Action Log Minutes: RESOLVED: To note that all actions in the log were now closed. |
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Business Support and Investment Minutes: A report and presentation on Business Support and Unlocking Investment in South Yorkshire were presented. Current issues in the South Yorkshire economy were noted as being:
Strengths of the South Yorkshire economy were noted as:
Launch Pad, Productivity Grants, Net Zero and Specialist Business Advisors were all noted as elements of business support which were in the process of contracting and delivery, with funding from the UK Shared Prosperity Fund (UKSPF) and private investment.
A question was asked on the governance of UKSPF decision making, and the UKSPF Partnership Group. ACTION: Innovation Project Director – follow up on UKSPF governance with Rotherham MBC.
A pipeline of investible propositions in the region was presented, including:
ACTION: Director Resources & Investment to follow up with marketing colleagues to communicate the announcement from South Yorkshire Pensions Fund.
An overview of the work which the MCA was seeking to undertake to increase the supply of investible propositions in the region was given. It noted: · A proposal for acceleration activities which support entrepreneurs to start, grow and innovate,
Proposals to support nascent sectors in the region were presented, including:
The board endorsed priority levels given in the paper, and noted that further detail and formal approval of schemes would be required at a later time.
Alternative options for future Growth Hub models were considered, and the Board recommended Option 1 as the preferred outcome. The Board noted that more detail on transitioning to this option would be provided at a future meeting, and would depend on confirmation of government funding for Growth Hubs.
An overview was given on the development of the International Strategy, noting in particular:
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Budget, Performance and Programme Approvals Additional documents:
Minutes: An update on Budget Performance was presented, noting a small revenue underspend, underspend in the Made Smarter fund, commitment of Renewal Action Plan funding for specialist business advisors, and a rebate on capital funding for Building Digital UK made in 2015.
Two schemes delegated by the MCA Board were also presented for approval:
These schemes were put forward as examples which support the development of a healthy business landscape in the region.
RESOLVED: That the Board:
Note the forward plan timeline. |
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Any Other Business Minutes: A verbal update was given on how the 15th March budget announcement might impact the region:
Trailblazer devolution deals had been confirmed for the West Midlands and Greater Manchester Combined Authorities. These would see a move away from multi-pot funding for MCAs to single-pot funding, devolution of the affordable homes and retrofit budgets, devolution of post-19 education and skills, and implementation of an Enhanced Accountability Framework for these Combined Authorities. |