A new economic strategy for Bracknell Forest was approved by the decision making executive on Tuesday 23 January. It sets out how we will strengthen and improve the local economy and business sector.
The borough has many successful local businesses and is an ideal location for small, medium and large companies.
However, recent global events like the COVID-19 pandemic and the economic downturn have impacted the number and types of businesses calling Bracknell Forest home. It has also impacted the training levels of local people - creating a skills gap.
The council will now set about reversing this by driving prosperity, increasing skills and encouraging more businesses to come to Bracknell Forest through a 10-year plan.
The economic strategy was approved at the executive’s meeting.
Areas of focus
It focuses on 4 key areas:
Economic performance
This aims to improve declining productivity and local business knowledge.
It will also aim to protect the borough from the risks associated with large, foreign businesses moving out of Bracknell Forest.
Business competitiveness
This aims to improve resilience, including start-up survival rates.
It also aims to grow businesses within certain sectors like ICT, scientific and technical and film and TV. This will help improve competitiveness and secure the large employers of the future.
People, work and wellbeing
This aims to address skills gaps locally and encourage well-paid and secure employment for residents.
Place, climate change, infrastructure and connectivity
This aims to promote the borough as an excellent place to live and work.
It will champion green business initiatives and showcase the borough’s many advantages like great connectivity, good housing, schools and a wonderful environment.
Consultation feedback
It also takes in to account feedback from residents and businesses following a 6-week consultation in the autumn.
Changes made to the strategy due to consultation feedback include:
- lobbying for enhanced public transport to support inward investment and accessibility
- a stronger emphasis on helping small and medium sized enterprises to access business support
- highlighting the specialist research and development businesses present in the borough
Cllr Paul Bidwell, Executive Member for Economic Development and Regeneration, said:
“Bracknell Forest is known for having lots of successful, large businesses located in it, which employ many people.
“However, despite this success, we are not immune to the impact of the global events that have taken place over the past few years, which have had an adverse impact on our prosperity.
“Now is the right time to tackle that decline and reaffirm Bracknell Forest as an excellent place to live and work – encouraging more businesses, big and small, to take root here and make this their home.
“Our 10-year strategy is based on significant research and expert advice as well as feedback from residents and aims to tackle the issues impacting our economy now and in the longer term.”
