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Regional development agencies have been given a vital role in helping business battle through the recession. In his first major policy announcement, business secretary, Lord Mandelson, said RDAs were best placed to ‘lead and help develop innovative thinking and the solutions business needs'. He also urged the agencies to work closely with their partner local authorities. It followed confirmation that the agencies would be speeding up their payment processes, in a bid to help the small businesses sector which employs 15m people in the UK. RDAs, according to the Government, have contracts worth around £750m with small businesses. Lord Mandelson argued that RDAs were defining the direction for the regional economies, particularly in the north-west of England. He believed that through their support and investment in business, traditional industries could become world leaders in advance manufacturing. Lord Mandelson said: ‘Now, above all, is the time to build on the regional policy successes of the last decade – the resurgence of our northern cities, the work of the development agencies in building new knowledge clusters of growth, and the explosion of creativity in the regions.' He added: ‘For me, the role of regional development agencies will be crucial in this process. Led by business, working in partnership with local authorities, universities and others, they are the key economic co-ordination body in each region. Not just for the North, but for the country as a whole. ‘The mandate is clear – to ensure that every hardworking business, in every region of the country has the necessary advice and support to help them not just to survive but also succeed in the difficult times ahead.'

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BUSINESS

RDAs 'best placed to assist business'

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