Business Secretary visits Hereford and Worcester
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He will be giving a speech to businesses in Hereford where he will tell them how the Government is enabling the transition to a green and growing…
He will be giving a speech to businesses in Hereford where he will tell them how the Government is enabling the transition to a green and growing economy.
While he is there, he is also taking part in a ‘Question Time’ style event where he will respond to questions about the green economy ranging from small business finance to feed-in tariffs.
The Worcestershire-based family-run business, Morgan, is the next stop on his tour. He will be shown round the niche car manufacturing plant where highly-skilled craftsmen use traditional methods to make these classic cars.
Morgan is one of approximately 10,000 mid-sized businesses (MSBs). They represent just 0.2 per cent of all UK firms yet they account for around one fifth of private sector employment.
Many of these companies are in manufacturing and are dominant in local economies or play a key role in national and international supply chains. Working with partner bodies, the Government launched a campaign earlier this year to unlock their growth potential.
Vince Cable said:
“Manufacturing makes a significant contribution to the UK economy. It generates half our exports and is responsible for much of our business research and development activity.
“In the UK we have a wealth of expertise and many innovative businesses that are central to the Government’s growth strategy. I am looking forward to seeing first hand some good examples during my visit to Hereford and Worcester.”
While at the Malvern Hills Science Park he will see the imaging software company Goodrich ISR and meet members of the Worcestershire local enterprise partnership (LEP) to discuss plans for driving growth in the region. Goodrich ISR has seen 70 per cent growth last year and has gone from a start-up company to a business employing 90 staff.
LEPs now cover every business in England, and they are identifying local challenges and developing solutions to the specific barriers to growth affecting the economy in their own areas.
His final stop in Worcester will be at Yamazaki Mazak, which is one of the largest producers of computer-controlled metal cutting machine tools. Mazak supplies machines to make everything from jewellery to jet engines; and has customers across the aerospace, automotive and construction industries.
Notes to editors:
In 2010, there were around 10,000 mid-size businesses (MSBs) defined as having a turnover of £25m - £500m a year. This compares to 666 larger firms and approximately 4.5m smaller firms. The Government is working with partners such as the Daily Telegraph, CBI and advisory firms to raise the profile of MSBs. For more information and see the Morgan case study go to http://discuss.bis.gov.uk/midsizereview/case-studies/morgan/.
For more information on local enterprise partnerships go to http://www.bis.gov.uk/policies/economic-development/leps.
The Make it in Great Britain campaign forms a key part of the Government’s manufacturing agenda which aims to transform outdated opinions of modern manufacturing and dispel the myth that Britain ‘doesn’t make anything anymore’. It will culminate in the Make it in Great Britain exhibition of cutting-edge British manufacturing at the Science Museum, to coincide with the Olympic and Paralympic Games.
BIS’s online newsroom contains the latest press notices, speeches, as well as video and images for download. It also features an up to date list of BIS press office contacts. See http://www.bis.gov.uk/newsroom for more information.
Notes to Editors
Name BIS Press Office Job Title
Division COI Phone
Name Rebecca Murrell Job Title
Division Department for Business, Innovation and Skills Phone 020 7215 6403 Fax
Published: 2 April 2012