Support for Social Enterprises 1

MQT on 2013-01-30
Session date: 
January 30, 2013
Question By: 
Len Duvall
Labour Group
Asked Of: 
The Mayor


What strategy has the Mayor put in place to protect affordable workspace for SMEs and Social enterprises?


Answer for Support for Social Enterprises 1

Answer for Support for Social Enterprises 1

Answered By: 
The Mayor

My Economic Business Policy Unit will commission research in the next few weeks to identify and map existing business incubators/accelerators, affordable and shared work space across London. The research will look at the different financial models, success, options for improvement and geographical and sectorial gaps. We will also identify best ways of promoting these spaces among London start ups and SMEs. A map will be produced and promoted through various networks to ensure maximisation of growth through Small and Medium Enterprises. The outcomes of the research should help identify what role the GLA would be able to play in provision of affordable workspace in London.

The LEP SMME working group will also be looking into what role they can play, in partnership with my office, in supporting and encouraging affordable workspace.

Two examples of my intervention on the provision of affordable workspace include: the European Regional Development fund, to date, £2 million (plus £3.9 million match funding) has been invested in supporting projects which provide sustainable incubation space in LB Tower Hamlets and RB Greenwich.

I am also funding the 639 centre in Haringey which is due to open shortly and will provide affordable workspace for SMEs and social enterprises.