City Markets: Business location in deprived areas

Article

City Markets concludes that Business-led regeneration should focus on business-deprived areas but that the Government should subsidise business activity only where specific market failures exist, in proportion to those market failures and in line with local labour market and other conditions.

Boosting enterprise in deprived areas has been a recurring goal of government policy. But enterprise programmes have had disappointing results in deprived areas, and been poorly targeted. The Comprehensive Spending Review is now looking to rationalise and improve economic development and regeneration schemes.

This report will contribute to that process, looking at deprived areas according to their levels of business activity. It focuses on a group of 30 business-deprived areas - those Neighbourhood Renewal Fund (NRF) districts that have very low levels of business activity. Most are in the North-East (e.g. Sunderland) and the North-West (e.g. Oldham). Five are in London (e.g. Newham). Separately, a minority of deprived areas have relatively high levels of business activity (e.g. Preston, Leeds and Camden).

City Markets concludes that Business-led regeneration should focus on business-deprived areas but that the Government should subsidise business activity only where specific market failures exist, in proportion to those market failures and in line with local labour market and other conditions.

Centre for Cities has re-launched as an independent think tank. To purchase this book, please email admin@centreforcities.org. You can visit Centre for Cities online at http://www.centreforcities.org.

Related items

  1. View of Bank of England, Royal Exchange, and Duke of Wellington equestrian statue (1844) with skyscrapers and construction in background.

    Navigating in the fog: Why the OBR should hold its nerve on the productivity forecast

    The fiscal watchdog is under pressure to downgrade its forecast, costing the chancellor billions – but this would be premature.
  2. A busy bus full of people of all ages. An older couple smile at a younger woman with a baby in a pushchair

    Everyday concerns: What people want from transport

    Transport has a key role to play in achieving the UK government's missions and improving lives. 
  3. An unrecognisable woman playing a slot machine in a social club

    Reforming gambling taxation: How to lift half a million children out of poverty

    A key priority for the government’s upcoming child poverty strategy should be to remove the two-child limit and scrap the household benefit cap.