Boosting Lambeth's business sector

The Lambeth Enterprise Board are stepping up a gear to steer local businesses through the recession following the latest board meeting and the election of a private sector co-chair.

Mark Riches has a Waterloo based business and has recently stepped into the co-chair position. Mark has overseen the adoption of the borough’s Annual Enterprise Action Plan which includes a number of key themes and activities. The themes focus on various ways of promoting local businesses as follows:

Theme 1: Promoting Lambeth as a place for business

• Inward investment (including sector based interventions i.e. creative and cultural industries, hospitality, leisure, travel and tourism, green businesses)
• Lambeth Business Fair
• Lambeth Business Awards

Theme 2: Supporting businesses in Lambeth

• Lambeth Business Support Network
• Financial assistance
• Vacant premises
• Economic Development Strategy review

Theme 3: Improving High Streets and Districts

• Town Centre Management and Business Improved Districts

Mark is working with board members to take forward a number of projects to boost existing businesses and encourage opportunities for new entrepreneurs.  Key projects the board have committed to delivering over the coming months include:

• The creation of a loan fund and related business planning support
• A temporary letting scheme for vacant commercial properties
• Work with Lambeth’s younger citizens to promote and foster entrepreneurship
• A Lambeth business fair

Councillor John Kazantzis, Lambeth Cabinet Member for Business and Enterprise said: “In these challenging times we need to focus on how we kick start our local economy. This involves working closely with our business community as they understand what is needed to support our businesses through the downturn, but perhaps more importantly to prepare our businesses for opportunities once the upturn takes place.  

"I am confident that the work of the Enterprise Board will prove vital, relevant and above all, of real value to our local business community."

Mark Riches, the new private sector co-chair is similarly keen to work with local businesses and to improve the culture of enterprise in Lambeth.

He says “As a resident and owner of a Lambeth business, I have a real enthusiasm for what we can see happen in the borough.  There’s a real sense of wanting to see things happen but frustration that things aren’t moving fast enough. 

"I see my role very much as driving the agenda for business forward, cutting through the bureaucracy that frustrates and sometimes impedes our businesses, but also recognising as businesses that we may need to do things differently to make our businesses better.” 

In recognition of how the council and other public sector organisations support local businesses, Derrick Anderson, Chief Executive of Lambeth Council has been invited along to the September Enterprise Board meeting to discuss how council services can be enhanced to become more open for business. 

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