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>> Implementing LED <<
Investment in Soft Infrastructure
Investment in soft infrastructure involves investing in improving the commercial environment for businesses.
Programs and projects include:
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Enabling or providing skills
training
The provision of skills training should be demand-led, i.e., training should be provided in response to employer skills needs.
Wherever possible this should be linked to education programs in schools.
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Providing increased business focused education and access to
education
The more schools can do to prepare young people for the world of work the better. Programs could include: work ethics, information technology, basic entrepreneurship education and sector studies where students can study key business sectors of importance to their communities.
If adult literacy is a major problem, it could be addressed through LED education and outreach strategies.
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Providing business advisory
services
Depending on budgets, this service could start with one person who just points people in the right direction, for example, to lenders, to skills training. Clear sign-posting is the key to good business advisory services. Good practice points to 'one-stop shops' as an effective way of providing technical and financial support. Effective one-stop shops are usually housed in one building where local businesses may access all the technical support they need. Good practice also points to these facilities offering a one-stop service center for all local authority legal and regulatory issues as well as business issues. These services are often housed in buildings that have become redundant because of structural change so the one-stop shop facility may also be used to house incubator or managed work or office space, thus generating cost savings.
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The provision of access to capital and
finance
At the most basic level, this could be a 'sign posting' service where businesses are directed to potential sources of finance. Local authorities rarely become involved in detailed advice to businesses on funding issues as these services are provided by specialist institutions.
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Supporting the development of business and trade
associations
This is a basic institution building process that could bring considerable benefits to the business community and LED efforts. Ideally all towns and cities should have a number of these organizations including Chambers of Commerce, Boards of Trade, etc. Also more specific groups can be supported such as town center promotion groups, sector activities such as a tourism marketing group or an exporters club. Most are likely to initially need some 'pump-priming' funding (i.e., initial funding to get the scheme started) and capacity building support.
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Improving delivery of local government services to businesses
This is a key area as businesses are not only the drivers of the local economy, they are also potential ambassadors. A happy business person may well be able to attract more businesses to the area. All aspects of regulations, taxation and licensing are candidates for review to minimize cost, time and frustration for businesses, whilst maintaining appropriate necessary environmental and related standards.
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Social inclusion
strategies
A first stage should be to establish who and where the most vulnerable communities are, and then develop strategies to include them. These strategies could include, for example, language programs for ethnic minority communities, helping women into/back to work, encouraging the recruitment of disabled people into the workplace, and encouraging social activities for the very young and elderly citizens.
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