Agenda item

Report of the Director of Finance and Resources

The Scrutiny Co-ordination Committee considered a report of the Director of Finance and Resources, which outlined the half year performance of the Coventry and Warwickshire Growth Hub for the 2025/26 financial year.

The Committee noted that the report would be considered by the Coventry Shareholder Committee at its meeting scheduled for 4^th November 2025.

The report indicated that the Coventry and Warwickshire Growth Hub (CWGH) was established in 2014 and is firmly integrated as part of a successful Coventry and Warwickshire economic area, providing a ‘one stop’ centre for local businesses, with advice and guidance on the most appropriate support fo their needs.

The CWGH Business Plan was approved by the Coventry Shareholder Committee on 26^th March 2025.  The half-year report outlined the performance based on the Business Plan during the financial year 2025/26, detailing income and operating costs for the ‘core’ Growth Hub.  There were limited risks with the company balance sheet and CWGH have sufficient resources to meet liabilities as they fall due.  The Council is not responsible for meeting liabilities in its role as a shareholder as CWGH is a private limited company.

Primary objectives and priorities for the period of the Business Plan remain unchanged with the CWGH focussing on accessing and supporting sub-regional small and medium-sized enterprises (SMEs), plugging them in to relevant and available support partners and their programmes, such as those funded through the UK Shared Prosperity Fund.

Overall, 188 referrals out of a target of 325 had been mad (58%, with the VWGH well placed to meet the target for referrals by the end of the financial year.  Nearly all of the programmes were close to or over 50% of the target.  Further information on progress was set out in Appendix 1 of the report.  During the second half of the current financial year, a targeted marketing campaign would focus on the Business Energy Advice Service Programme to generate additional referrals.

The Committee were advised that, whilst there is no intention or indication that the CWGH is to close, the CWGH holds sufficient resources in reserves to ensure that, were a closure required, there would be no financial liability upon the Council as shareholder.

Members of the Committee asked questions and received answers from officers on the following:

·  The unique position of CWGH as the only source of free region-wide advice available to all businesses.

·  That the performance figures were a fair reflection of the 6-monthly position and a proactive campaign would be undertaken to target those areas that were underperforming.

·  That the service was open to all of the approximately 10,000 businesses, including SMEs, in Coventry and the service is marketed through business rates and licensing to promote the service.

·  That the CWGH was a separate business and needs to generate income from referrals.

·  That the CWGH works closely with the Chamber but provides different services.

·  That the CWGH was in an excellent position to be able to gather information about the impact of the JLR cyber-attack on the supply chain businesses in the area.

RESOLVED that, the Scrutiny Co-ordination Committee note the report and support the recommendations to the Coventry Shareholder Committee.