South Lakeland is the best place in the UK to start a business, a new report reveals.
The UK Prosperity Index 2021, produced for the Centre for UK Prosperity programme by the Legatum Institute, found South Lakeland’s enterprise conditions – scored on business environment, labour market flexibility and domestic market contestability – to be the best of all the 379 local authority areas in the UK.
South Lakeland also had the second highest overall prosperity score of the 24 non-metropolitan authorities in the North West.
Prosperity among local authorities was measured both overall and by 12 metrics – safety and security; personal freedom; governance; social capital; investment environment; enterprise conditions; infrastructure; economic quality; living conditions; health; education; and natural environment.
The findings were welcomed by Councillor Robin Ashcroft, portfolio holder for economy, culture and leisure at South Lakeland District Council.
He said they boded well for the district’s successful recovery from the economic impacts of the coronavirus pandemic.
Coun Ashcroft said: “South Lakeland has long scored highly for our rates of business start-ups and retention and these new figures placing South Lakeland as the best in the whole of the UK for enterprise conditions – as well as a high rating for overall prosperity – is a further recognition of that.
Fighting back from coronavirus pandemic
“Fighting back from the economic effects of the coronavirus pandemic is a massive challenge which no one organisation can solve on its own. But South Lakeland District Council is committed to leading from the front and taking a key role.
“Placemaking, for example, is increasingly becoming a major theme for employers wishing to attract a skilled work force and we are increasingly taking that, as well as climate action and climate reduction, into account when planning activity which will help make good our commitment to making South Lakeland the best place to live, work and explore.”
Examples of this kind of activity backed recently by South Lakeland District Council include its decision to fund over the next three years Kendal Futures Community Interest Company to deliver activities identified in the Kendal Vision and Kendal Town Centre Strategy – a model which it is hoped can be rolled out to other communities in South Lakeland – and restoration and rejuvenation of Grange Lido and Promenade.
Working with partners
The authority is working with several agencies as part of the pandemic response but is also focusing on creating the conditions necessary for our businesses and communities to recover and thrive, including continuing its history of investing in business support, and partners with Cumbria Chamber of Commerce which enables free support for new businesses in the district to start up and existing ones to grow.
Other business support projects backed by the council include the Future Fixers, which encourages and guides people who have a sustainable, environmentally-friendly business idea towards a successful launch, and teaming up with Green Small Business to offer a heavily subsidised deal for firms to get environmental advice and certification.
Coun Ashcroft said that SLDC has a clear plan of activity for the district which will help with recovery, build confidence, attract investment and ultimately make South Lakeland a better place to live, work and explore.
Coun Ashcroft said: “Some of these projects will be challenging to deliver, with external dependencies and complexities, as well as a demand on resources, but it is right that SLDC is bold in its aspirations to achieve them, either by taking the lead or by working with other partners to deliver on shared objectives.
“They show the breadth of work we are involved in which will help drive economic recovery. It is only right that we do that, and it is testament to SLDC’s long history of sound financial management and professional excellence that we have the resources to see that through.
“We were pursuing many of these projects anyway, including exciting and innovative developments which focus on placemaking by developing our arts and cultural resources to make our area even more attractive as a place for skilled employees to live and work – but it is all the more vital that we deliver on them now.”
