Local government leaders have signed up to developing a pan-London Charter for Business, says Cllr Catherine Faulks. The aim is to better support the city's economy while driving inclusive growth.
As diverse as London's boroughs are, they all share one goal: supporting their residents.Despite being the smallest borough in London, Kensington and Chelsea has a strong and inclusive economy, and maintaining this is a key part of our commitment to serving our community. By creating connections between people, businesses, and institutions, we know we are building a sustainable and resilient model for success.
This commitment to our local community is in line with a broader pledge from boroughs across London to ensure their residents can take advantage of the opportunities on their doorstep.
London is one of the most attractive cities in the world to do business – and was recently named the most dynamic city in Europe for the third time running by Savills Investment Management. From cutting-edge start-ups to multi-national businesses, the capital is a place where innovation, growth, success and enterprise flourish.
Boroughs are uniquely placed to support businesses and to focus on local issues that hinder growth and success and find solutions. Rethinking policies around planning, licencing and parking, for example, can lead to more flexibility to adapt in a fast-moving business environment.
Across London, there is a strong appetite for doing more with the boroughs' fine-tuned local understanding and ability to collaborate. New polling from the London Councils and the London Chamber of Commerce and Industry, which surveyed 1000 London businesses, showed significant support from business for a stronger role for the boroughs across a range of areas, including local taxation.
A thriving local economy does not necessarily benefit everyone in the same way, and it is important to support residents who feel excluded as well as the businesses. To address this, 33 local government leaders, including the leader at Kensington & Chelsea RLBC, have committed to developing a pan-London Charter for Business. This will set out principles and pledges, co-designed with business, on how to better support the capital's economy and to drive growth that is inclusive for all residents.
Investment in housing, transport and the public realm, alongside employment, education and skills support, all contribute to creating a thriving working environment. Entrepreneurs need more affordable space or training to develop the skills they need.
We need more truly affordable housing and developments that bring jobs to sustain local economic strengths and we need to extend opportunities to all on both a local and regional level.
Kensington & Chelsea RLBC launched its own Economy Strategy, Live, Work and Learn: Our plan for a Successful Local Economy, after extensive consultation with local stakeholders.
Our ambition is to increase residents' access to developing skills, employment and enterprise and to ensure an economy that works for everyone.
Our commitment to empowering our community through better jobs and growth is part of a broader goal that London boroughs all share.
This is why collaborations such as the London pledges for business are so important. Fulfilling these commitments and balancing different priorities together may not be easy or simple, but they are vital for building the strength and prosperity of our communities.
Cllr Catherine Faulks is lead member for skills and enterprise at Kensington and Chelsea RLBC
Registration is open for the London Summit, which takes place at The Guildhall in London on Saturday 23 November. https://www.londoncouncils.gov.uk/who-we-are/conferences-and-events/london-councils-summit-2019
