To consider approval of a proposal for an ELIF-funded business support programme, aimed at supporting East Lindsey businesses with making smart and informed energy management decisions and investments.

1.     That the business support model and funding allocations, as set out within this report be approved.

2.     That delegated authority be granted to the Assistant Director – Strategic Growth and Development, under consultation with the Portfolio Holder for Market Towns and Portfolio Holder for Coastal Economy, to finalise detailed scheme design, enter into necessary contracts and launch the scheme as per the approach detailed within the report.

A report was presented to consider a proposal for an East Lindsey Investment Fund (ELIF) funded business support programme, aimed at supporting East Lindsey businesses with making smart and informed energy management decisions and investments.

During his introduction of the report, the Portfolio Holder for Coastal Economy stated that he had been very pleased to present the proposal, which had originated as an idea developed jointly by himself and the Portfolio Holder for Market Towns and Rural Economy several months earlier.  The intention had been to support local businesses at a time when many across all sectors were experiencing considerable difficulties.

One of the most significant and pressing challenges facing both small and large businesses was the rising cost of energy.  While successive governments had implemented caps for domestic consumers, business energy tariffs continued to escalate, placing considerable pressure on commercial operations.  The Portfolio Holder for Coastal Economy highlighted that many businesses within the district, particularly along the coast were heavily reliant on electricity, and that without it, many major employers could not function.

The Portfolio Holder for Coastal Economy explained that officers had developed the initial idea into a comprehensive five pillar programme model, set out at Paragraph 2.17, page 239 of the Agenda refers which was designed to support businesses by enabling them to access and utilise renewable energy technologies.  He emphasised that the renewable energy sector had advanced significantly in recent years, yet many business owners lacked awareness of the opportunities available.  This lack of awareness, he stressed, was not due to ignorance but due to the highly specialist and fast?evolving nature of the field.

The five?point programme included providing information and early stage advice on available renewable energy options, undertaking professional audits of business premises, offering guidance and support in engaging with specialist private?sector providers, and continuing the existing business advice service. 

The proposed programme would therefore assist businesses in reducing energy costs, improving profitability and creating conditions that could lead to increased employment, business growth, and wider economic benefits.  The initiative would be available across the whole district and would be accessible to all types of businesses, including shops, factories, small industrial units, farms and any enterprise reliant on electricity.

In summary, the Portfolio Holder for Coastal Economy advised that the proposal sought approval to use the remaining ELIF funding of £650k to deliver the programme.  He expressed the view that once operational, the programme would be something the Council could be proud to promote, demonstrating a clear commitment to supporting the business community, encouraging the adoption of renewable energy, reducing costs and contributing to a greener local economy.  He concluded by thanking officers for their work in developing the report.

The Portfolio Holder for Market Towns and the Rural Economy concurred with the Portfolio Holder for Coastal Economy and considered that the Council had an opportunity to assist and make a meaningful difference.  He highlighted that the Council had strong and continually improving communication channels with the business community, supported by extensive work undertaken in recent years through the Grants for Growth scheme and various strands of the UKSPF funding and considered that the proposed initiative would enable the continuation of that engagement and support.  He stressed that its impact would depend on developing and delivering the five pillars outlined within it, however considered the initiative to be positive and ambitious and expressed confidence that if implemented effectively, it would provide valuable support to the business community.

The full background and details were included at Sections 1 to 3 of the report, pages 235 to 244 of the Agenda refer.  A copy of the Summary Table of the Model, including the financial assumptions against each pillar of the model was  attached at Appendix 1 to the report, pages 247 to 250 of the Agenda refer.

The recommendations were duly proposed and seconded.

Members were invited to put their comments forward.

The Portfolio Holder for Planning stated that a proposal such as this highlighted what well?run, well?managed and appropriately funded local government could achieve and while the budget demonstrated financial strength, this initiative represented how that strength could be put to practical use.

He further emphasised that the proposals supported East Lindsey, its businesses, investment and local people through training and qualifications that could lead to life?changing opportunities and careers.  He commended the Portfolio Holders and officers involved and expressed strong pride in the Council’s work.

The Portfolio Holder for Finance responded that the Council was in the fortunate position of having both the necessary funds and the ambition to act in the best interests of the local business community.  He expressed admiration of the Portfolio Holders for Coastal Economy/Market Towns and Rural Economy and the team responsible for the proposal, and stated his intention to support it.

RESOLVED

1. That the business support model and funding allocations, as set out within this report be approved.

2. That delegated authority be granted to the Assistant Director – Strategic Growth and Development, under consultation with the Portfolio Holder for Market Towns and Portfolio Holder for Coastal Economy, to finalise detailed scheme design, enter into necessary contracts and launch the scheme as per the approach detailed within the report.

Reason

To deliver the anticipated benefits, as articulated within this report

Other Options

Do nothing.  Under this option, the benefits sought from the proposal within this report are not achieved.

N.B.  Stuart Leafe, Head of Finance Delivery (ELDC) left the Meeting at 6.29pm.