Agenda for MCA - Business Recovery and Growth Board on Thursday, 30th June, 2022, 2.00 pm

Agenda and minutes

Venue: South Yorkshire MCA, 11 Broad Street West, Sheffield, S1 2BQ

Items
No. Item

14.

Welcome and Apologies

Minutes:

The Chair welcomed everyone to the meeting.

 

Apologies for absence were noted as above. 

15.

Declarations of Interest by individual Members in relation to any item of business on the agenda.

Minutes:

None.

16.

Urgent items / Announcements

Minutes:

None.

17.

Public Questions of Key Decisions

Minutes:

None.

18.

Minutes of the Previous Meeting pdf icon PDF 357 KB

Minutes:

RESOLVED:  That the minutes of the meeting held on 8 February 2022 be agreed as a true record.

 

The Board noted that informal meetings of the Board had also taken place since the 8 February meeting.

 

 

19.

Matters Arising / Action Log pdf icon PDF 301 KB

Minutes:

The Board noted that all matters arising were either closed or would be addressed within the business of the meeting.

20.

Progress of UK Shared Prosperity Fund

(Verbal update)

Minutes:

The Innovation Project Director gave a verbal update on the progress of the Share Prosperity fund, noting that the fast-changing situation prevented a formal written update being presented.

 

The board were informed that £38.9 million had been allocated to the region.  An investment plan must be submitted to Government outlining planned interventions. Consultation is underway with Local Authority partners in the form of workshops, webinars, the formation of a partnership board and steering group, and information has been provided online.

 

The investment plan priorities will be approved by the MCA and Local Authorities at the end of July.

 

Clarification was sought regarding whether this funding would for a smaller amount than the EU funding it replaced; it was confirmed that the total amount was less than pervious ESIF provision.

 

The board enquired about the extent of consultation to be undertaken with local communities. The Innovation Project Director replied that due to a tight timeline stakeholder engagement had been limited, however, investment delivery following would be shaped through stakeholder consultation.

 

The board asked whether when the funding would be received and whether it would be clawed back if it was not spent within the year.  The board were informed that funding would be received from 1 October 2022 and that there would be clawback limited to circumstances where an underspend could not be justified.  

 

The Innovation Project Director informed the board that the investment plan documentation would be shared with board and potentially published on the SYMCA website.

 

ACTION: J Quinn to share final UK Shared Prosperity Fund document with the Board when completed, and an update to be provided at the September meeting of this Board. 

 

RESOLVED:  That the Board noted the update.

21.

Create Growth Programme pdf icon PDF 212 KB

Minutes:

The Innovation Project Director presented a paper regarding a possible expression of interest for the region to participate in the Create Growth Programme (CGP).   The programme would entail a £1.2million award. 

 

The Board is asked to endorse the submission of an expression of interest which may lead to a formal bid.

 

The board asked if the Board would have sight of the expression of interest.

 

ACTION: J Quinn to share the expression of document with the Board when completed, for information only.

 

RESOLVED:  Members note the Create Growth Expression of Interest process and endorse the work underway to investigate the potential for a submission from South Yorkshire.

22.

Programme Performance Report pdf icon PDF 229 KB

Additional documents:

Minutes:

The Assistant Director of Procurement, Contracts and Programme Controls  presented a paper on the latest performance information on Business Recovery and Growth programmes being delivered on behalf of the MCA.

 

There are currently 21 live projects and the total funding for all projects is £46.1million. The current forecasted spend is £32.71million. The underspend here is attributed to unconstrained gainshare funding. 27% of projects are in full delivery, and claims made to date are currently at £2million, which is to be expected for this quarter.

 

Funding of £1.75million awarded by the Government for the Made Smarter 2 Programme is also not included in the paper as this was unconfirmed until more recently.

 

The appendices show a full breakdown of projects, and where funding has been clawed back.

 

ACTION: New Committee Members sign Non-Disclosure Agreements

 

The board were informed that the MCA had grown significantly in size in recent years, and that as a lender of last resort each award was made on a case-by-case basis.  In addition, the nature of funding projects had changed, meaning that companies can now show market failure to obtain a loan or equity aligned with the Strategic Economic Plan.  Work is being undertaken to ensure good relationships with banks to ensure more funding options were available to borrowers.

 

The board requested an update on the Growth Hub marketing plan and asked how the availability of business support is communicated in the region.   The board will receive updates on the provision of business support and were informed that new and innovative ways of adding value are always being explored.

 

ACTION: S Sykes & Muz Mumtaz to provide an update to the next Board meeting on marketing of business support.

 

RESOLVED:  That the Board noted the update.

23.

Programme Approvals pdf icon PDF 166 KB

Additional documents:

Minutes:

The Assistant Director of Programme and Performance Unit presented a paper seeking progression of the Tech Welcome pilot to full approval.

 

It was explained that this project would work across the region and companies must commit to working for an extended period within the region. Conditions in the contract are that an evaluation must be undertaken and reported on, and that the business must have a South Yorkshire postcode.

 

A discussion took place with regard to how many centres there would be and that the aim was to wrap around existing provisions in the region, however, a central hub would be based in Barnsley addressing concerns about the number and provision of incubation spaces in the region.

 

The board welcomed the initiative and encouraged stronger visibility for the project. The Innovation Project Director confirmed that this grant would be available to Local Authorities throughout the region.

 

ACTION: J Quinn to speak with the Capital Enterprise team to ensure this work is as visible as possible.

 

RESOLVED:  To approve Option 1: Approve all recommendations.

24.

Business Development Projects - Status Update

Minutes:

The Senior Business Development Manager presented a paper seeking agreement to add one new business development project to the pipeline and provided an update on current Business Growth projects.

 

The Chair welcomed the receipt of early decisions such as this one by the Board. 

 

It was confirmed that energy efficiency and net zero targets were included in the assessment process for companies once on the pipeline.

 

RESOLVED:  to approve Option 2: Approve the request

 

The Senior Business Development Manager then provided an update on projects already on the pipeline, noting that work is also being undertaken to ensure external stimulation of the market.

 

RESOLVED:  to note the update on current Business Growth projects.

25.

Any Other Business

Minutes:

The board were informed that the Development Manager (Development Hub) and the Senior Business Development Manager would be leaving the MCA shortly. 

 

The Board thanked both for their work and wished them well for the future.