Enterprise Champion Report to Scrutiny Board Meeting

This is my final Enterprise Champion report in this Municipal Year 2007/8. I have found it a fascinating and very interesting year. I am pleased to be able to present this report to Council via the Scrutiny Panel.

In my first report to Scrutiny dated 2nd January 2007. I explained that I had been involved in a variety of meetings and events, boosting the role of enterprise here in this city.

In March I made a visit to a factory unit in Park Lane in Wolverhampton where two young men have formed a partnership. I described it on Radio Wolf as ‘Wolverhampton’s newest business’ it is M&S Precision Grinding based at Park Lane Wolverhampton.

I was invited to see their business on their first day of trading at their factory. I have continued to keep in touch with them as they have developed their business.

Matt Lem and Steve Hill are two young men who are Wulfrunian's through and through. They have decided to transform a long established grinding and engineering operation previously called P&L Grinding Ltd.

Their new business already has orders and is completing work for the aero industry, nuclear and naval sectors, Fastener Company’s, they even produce the finished product for the whiskey industry and the transport sector!

On that first visit I was shown a huge variety of products that they are working on. Whilst I was in their factory they introduced me to the most intricate of operations, including the smallest precision grinding products.

With the Municipal Year fast coming to an end, I again visited M&S to see if they were still on track. I can report that as at the 7th April 2008 they were very much in demand. Their order books are healthy and they are considering the employment of another person. With all the ‘risks’ involved in starting up a new business, these two young men have contributed greatly to our local economy , and have successfully steered their business through their first year of trading.

The manufacturing sector still provides 21.9% of the Wolverhampton labour market, and that is still big business. As Enterprise Champion small business as innovative as this one is required to build upon the 7,200 businesses that provide more than 105,000 jobs here in the city.


I also reported that the Finance and Banking and Insurance sector in Wolverhampton was small but vital. That this was a very vibrant sector and one that we should be happy to see grow.



I explained that I had been speaking with a number of executives including those from Swedish Bank Handelsbanken which was the newest arrived investment Bank. I visited Handelsbanken and their Chief Officer Mike Priddy on February 18th 2008. Mike was very welcoming. He explained about the Bank’s policies and he informed me that they were doing well in Wolverhampton.

Birmingham Midshires is of course the heavyweight in this sector here in Wolverhampton and Torquil Clarke was one of the fastest growing independent financial services businesses in the City.

Recently Torquil Clarke has announced that it has been taken over by the Skipton Building Society which has taken an 86% share in the business. Torquil Clarke was one of the independent stars of Wolverhampton’s small but important financial services sector. Clearly I hope that we will continue to see the company grow and thrive here in Wolverhampton- I have not had the time to sit down with John Chapman CEO and chat with him about future direction. But it is important that we do understand what the future holds for the company.

In fact Banking Finance and Insurance provides 13,900 jobs here in the Wolverhampton economy. (Source- Black Country Observatory). It was a vital sector that could and should be encouraged to grow.

I have also continued to Chair the ‘Business Champions’ Forum which is acting as a link with some of Wolverhampton’s biggest businesses I explained how the organisation linked with local business leaders.
Finally one of the last acts that I have undertaken was on the 4th April.
I attended a function that was addressed by John Hutton the Secretary of State for Business Enterprise and Regulatory Reform.


I was very interested in what Secretary of State Hutton had to say, not just because I am Wolverhampton City Councils Enterprise Champion. But also because John Hutton is reputed to be one of the most effective of Cabinet Ministers.

He said “It was impossible to come to the Black Country without being aware of the Black Countries history. The fact that it was the cradle of the industrial revolution. But in looking at the history you have to balance it with the future, and the future looked good for the Black Country and the West Midlands. "

The Secretary of State spoke about how today the Black Country had gone from being the 'cradle of the industrial revolution' and was now pitching in the 'new global revolution' that was taking place. He said that we are part of the global economy and that there was particular strength in Manufacturing and that we were still selling goods and services world wide. He made the point in underlining the fact that though we have a smaller manufacturing base than in the past. It was still a very important part of the local economy and more than 20,000 jobs were still employed in the sector.

He pointed with pride about the fact that our products manufactured here in the Black Country can be seen on every continent of the World.

He went onto emphasis that "British Industry and Commerce needed to be profitable and successful that is how we navigate to win future Government." He admitted that there were turbulent times in the financial markets, and that "made the situation serious".

In answering questions he dealt with the nuclear future, now this is a political hot potato but it is clear that Government are to embrace nuclear energy as a way of not only tackling climate change but also as a way of vesting future energy policy closer to the home shores.

The Secretary of State was adamant that the Black Country and the West Midlands had a lot to offer, both in skills and product. He finished by saying that we had a bright future.

On that note I also finish stating that here in Wolverhampton with a £4billion capital development programme on the horizon over the next 5 years, Wolverhampton is well placed to continue to attract business, commerce and industry.