The City of London is a key driver of the UK economy, generating over £97 billion annually and £1.2 billion in business rates.
According to the House of Commons statistics, SMEs account for 60% of UK employment and 48% of business turnover, which is why supporting businesses of all sizes across the city region is so important. A partnership doing just that is ‘Local London’, – set up to contribute to the essential business support that London businesses need.
We explore what Local London is, and most importantly, how Local London Plan ‘Towards 2026’ can support your business and others like it.
What is Local London?
Local London is one of four sub-regional partnerships in London and is made up of nine boroughs across north east and south east London, including:
- Barking and Dagenham
- Bexley
- Bromley
- Enfield
- Greenwich
- Havering
- Newham
- Redbridge
- Waltham Forest
What is the aim of the partnership?
The plan is to grow these areas by finding and leveraging opportunities that support the economy of the sub-region, such as building new transport or digital infrastructures. In doing so, the scheme hopes tp open opportunities for businesses to broaden their delivery model and generate more income, attracting new industries and sectors. It also aims to:
- Influence national and regional decision-makers to invest
- Advise young people about future employment and career options
- Support residents in developing the skills and knowledge they need to find jobs
The nine boroughs work together to identify and respond to mutual issues and challenges, sharing resources, insights and support, representing around 2.6 million residents and 100,000 businesses.
The partnership operates under the key principles of providing a voice and lobbying for the region, as well as supporting fundraising and income generation.
What is the Local London Plan ‘Towards 26’?
The Local London Plan Towards 2026 sets out ambitions for the fast-growing part of London that makes up its sub-regional partnership and support focuses on three main pillars: People, place, and sustainability.
Local London believes these pillars are the most pivotal in delivering a sustainable and thriving future for the sub-region.
Councillor Baroness O’Neill of Bexley OBE and Chairman of Local London says, “Our plan places a strong emphasis on collaboration and agility to help us build stronger relationships and respond to the needs of our members, stakeholders, and communities”.
The cost-of-living crisis is another focal point of the plan as economic pressures continue to impact the sub-region’s residents and business owners.
“We recognize that many residents are struggling with the high cost of living, and we are committed to delivering solutions that can help to ease this burden”, adds Baroness O’Neill of Bexley.
How can Local London support small businesses?
If you own a business in the City of London and are looking for support with things like growth, tech, investment and employment, you’re in the right place. Below are just some of the key ways Local London are working hard to champion businesses just like yours.
Grants and other financial backing
A large part of how Local London supports businesses in the sub-region is through fundraising and income generation capacity. This includes bidding for grants and other forms of financial support that will benefit their businesses and unlock new opportunities to improve outcomes.
The ‘Towards 2026’ plan shares how the partnership is currently managing over £85 million worth of grants across the boroughs it supports.
Digital support for SMEs
Lack of digital infrastructure is hindering business opportunities and putting up barriers for many SMEs in what Local London considers to be a ‘digital exclusion.’ Thankfully, part of their plan is to support and guide these businesses on going digital. They “work to drive a high level of digital connectivity for the poorest residents through wayleave agreements, promote greater take-up of social tariffs as well as take-up of digital learning programmes”.
Local London also runs a free ‘E-Business’ programme open to SMEs across all sectors, giving them access to expert advice to help “thrive in this online age”.
E-Business programme case study
Through the E-Business Programme, Love Your Look Group (LYL) clothing brand learned about online advertising and was able to effectively explore its Google store, Google ads and Meta business profile ad performance for Christmas and Boxing Day sales.
“I’ve found the E-Business project a great benefit as it’s kept me accountable and allowed me to focus on targeting each of our internal business issues one by one. Working with Pete (Business Advisor) and Ayo (Digital Specialist) has allowed me to access people within the fashion industry who understand our specific needs.” – Chierika Onyuku-Opukiri, LYL Director.
Better fiber connectivity
According to Ofcom Connected Nations research, 150,000+ premises in south and east London don’t have high-speed internet connection. Local London’s digital infrastructure programme works to improve digital connectivity across the sub-region to help businesses become more productive and competitive.
The partnership is helping drive investment to deliver high-speed fibre, alongside the Digital Infrastructure Strategy and online digital connectivity toolkit it has developed. Through this part of its plan to support SMEs and other businesses, Local London aims to:
- Fund and procure full fibre infrastructure for public sites across the sub-region
- Work with the telecommunications industry to address digital barriers businesses are facing
Employment and training
Another essential part of the Local London Plan Towards 2026 is working with employers to enhance careers education in schools and colleges and supporting long-term unemployed people back to work. It’s part of a wider mission to create a stronger workforce with more advanced skills.
The group’s ‘Mind the Skills Gap’ Local Skills Improvement Plan (LSIP) provides a business-led, data-driven blueprint to help local employers find the training support they need through thorough consultation.
The partnership also has an ever-expanding network of 170+ volunteers from large and small businesses who regularly share their professional experiences with young people to broaden skills and raise career aspirations.
If you’d like more information about Local London or have any queries about the available support mentioned in the Toward 2026 plan, email hello.locallondon@redbridge.gov.uk, or
find more support and advice for London businesses in our resource centre.