Chamber Comment on LEP Tax Incentives

9th March 2012

Richard Wright, executive director of Sheffield Chamber of Commerce, commenting on the Local Enterprise Partnership's tax incentives to businesses: This is good news for the region and in more ways than many people realise.

We talk constantly about support for SMEs and them being the power house of future growth, which is very true. But as a region we have to think carefully about the best way to help them. Many of our SMEs are involved in supply chains, or supporting supply chains, that trade internationally with major Original Equipment Manufacturer (OEMs). To properly balance this region we need more larger supply chain integrators that can take these major contracts then flow the work down through our SME network. The £300million will help this specifically but is then backed by incentives for the smaller companies on other areas of the Enterprise Zone to encourage them to invest. The economy of the Sheffield City Region is well placed to exploit the deal that the LEP has secured for us so I say 'well done.'