The Business Community

Nottingham has a strong and growing economy which is now worth more than £11.2 billion per year.

Since 2000 there has been a net increase of 16,700 jobs across the conurbation – a growth rate of 5.9% above that of England as a whole. (Source: ONS Annual Business Inquiry, 2000-05)

Gross Value Added which is the measure of economic output stands at £18,300 which is one of the highest of the Core Cities and 12% higher than the East Midlands. (Source: ONS, GVA Headline Series, 2007).  This reflects the importance of Nottingham as an employment centre for both city residents and commuters from the wider conurbation.

Nottingham has seen a decline in its traditional manufacturing industries to the extent that there are a lower proportion of jobs in Manufacturing than the England average.  Nottingham's economy is now based on "knowledge intensive" service sector businesses.  84% of people employed in Greater Nottingham are employed in the service sector, with public service being strongly represented along with banking and professional services.  This highlights Nottingham's position as the regional centre for business, finance and the public services.

We recognise, however, that there are still challenges for Nottingham particularly in the area of skills and employment.  Not all people have benefited from the economic success that Nottingham has enjoyed over the last 15 years.  The employment rate in the City remains relatively low at 66% against a government target of 80%.  In a number of our communities approaching 50% of all adults have no recognised qualifications.  As a result 20,000 children and young people in the City live in households where nobody works.

One Nottingham and business

Nottingham has a long history of social philanthropy with many of the leading entrepreneurs of the late 19^th and early 20^th centuries giving generously of their time and resources to help address some of the social issues of the day.

One Nottingham has two Board representatives from the business sector both of whom contribute their time and their expertise to help address the complex challenges that partners are facing.  Nottingham businesses are major employers of local people and by their engagement with the Board the business representatives provide a valuable perspective on the skills demands in the modern economy, in addition to the other business-related skills that they bring.

Business involvement in partnership activity runs far deeper than business people sitting on Boards and committees, however.  Many businesses are getting involved in practical ways to help address the challenges.  Successful engagement of the business community must be aligned to the goals of the business and be able to demonstrate that they are adding value through partnership activity.

Public sector ways of working can often seem very alien to the business community, however, help is at hand.  Phil Lovett works as the Business Broker with One Nottingham.  Phil's role is to work with businesses to find ways for them to get involved and see tangible benefit from their involvement. 

If you would like to find out more about how by getting involved in partnership activity you can deliver stronger communities and in so doing create a more positive environment in which to do business, Phil's contact details are below:

Email: philip.lovett@onenottingham.org.uk
Tel: (0115) 9150303