Raising the bar: A white paper to supercharge North East growth

The North East is entering an exciting new era.

And Bdaily publisher NET has created a blueprint to help turbocharge its momentum.

Working alongside national wealth management firm Fairstone, NET has crafted a landmark white paper to help the region fully capitalise on its headline devolution powers.

The creation of the North East Combined Authority represents a once-in-a-generation opportunity to reimagine the region’s economic, social and cultural landscapes.

And to truly seize that moment, NET – which also oversees N magazine – has published Raising the bar: A blueprint to supercharge North East growth.

The document – which has been officially presented to the North East Combined Authority – sets out clear goals to catalyse watershed change, from measures to boost business investment and improve transport links, to policy around strengthening skills pathways and rewriting the region’s narrative.

Founded upon six high-level roundtable discussions featuring nearly 50 senior North East commercial sector figures, the document provides a detailed, business-led agenda focused on transforming the region into a national and global powerhouse.

Headline white paper action points include: 

·       The creation of an investment ladder to provide early-stage, scale-up and mature businesses with easier access to capital

·       Greater support for existing standout businesses, rapidly-scaling SMEs and university spin-outs, and a renewed focus on high-value employment over job volume

·       Strengthened ties between industry and education to equip learners with skills for the jobs of tomorrow

·       Transport improvements to bolster inter-regional, domestic and global connectivity

·       A refreshed commercial narrative that showcases the North East’s investment opportunities domestically and internationally

John Duns, NET business development director, says: “We’re delighted to unveil the white paper, which has been crafted over many months using the knowledge, insight and expertise of North East business leaders.

“It speaks clearly and candidly to policymakers, investors and organisations alike, providing target-driven goals the region can achieve.

“It was a pleasure to present the document to the North East Combined Authority.

“Through its clearly defined development strategies, this white paper can help drive tangible growth for decades to come.”

Lee Hartley, Fairstone founder and deputy chair, says: “The North East has arrived at a pivotal moment.

“Devolution represents an incredible opportunity to create a region that thrives locally while competing on wider domestic and global stages.

“But to realise that potential, we must be bold and brave, combining a refreshed identity with considered investment, skills and infrastructure strategies that lay a platform for long-term growth.

“This white paper presents a clear roadmap to translate opportunity into measurable economic impact.”

Phil Witcherley, North East Combined Authority executive director of economy, innovation and culture – who officially received the white paper in a ceremony at the organisation’s Newcastle base – adds: “North East mayor Kim McGuinness’ ambitious North East Local Growth Plan was built through input from hundreds of businesses both big and small. 

“That engagement will continue as we deliver on our plan, so it is just brilliant to see NET and Fairstone playing their own big part in the conversation by bringing together these powerful roundtables.

“We look forward to reading the white paper in detail.

“At first look, though, I am glad to say it reflects some of the workstreams we are already delivering on, such as taking our global investment pitch to a new level and investing £1.85 billion to create the world-class transport networks that help business thrive.

“It is really welcome to see the new investment model proposed in the white paper, which holds great promise to complement our new £70 million North East Fund. 

“We have set this up to provide early-stage businesses and those seeking to scale with access to capital that might otherwise be challenging in our region. 

“We aim for this to generate £350 million in total investment from other funds, supporting 470 businesses and creating 2300 new jobs.”

In conjunction with the white paper, NET and Fairstone have launched a survey that allows business leaders and entrepreneurs from across the North East to play their part in shaping the region’s devolution agenda.

Featuring questions focused on investment and expansion goals, responses will provide an informed picture of the North East’s funding landscape, and where devolution can be harnessed to strengthen capital opportunities over years to come.

Click here to take the survey.

The white paper will be officially showcased at an invite-only dinner in Newcastle next year, where guests will hear about latest policy developments.

• You can download a copy of Raising the bar: A blueprint to supercharge North East growth by visiting Bdaily’s Knowledge Hub.
• Alternatively, email white paper author and NET editor-in-chief Steven Hugill at steven@netimesmagazine.co.uk to secure a printed copy of the document.

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