Report of the Director of External Relations, Innovation and Growth.
Members received a report of the Director of Innovation and Growth relative to a Deep Dive of CR02: Loss of Business Support.
A Member commented that it was not helpful to receive the paper without the risk metrics. The Town Clerk explained that this information had been missed from the agenda pack, and undertook to circulate it to Members after the meeting.
Members expressed their concern about businesses were leaving the City, and asked how Members could act as a liaison between IG and businesses in their Ward. The Director of IG replied that CR02 was focused on the loss of support from FPS (Financial and Professional Services), which was a UK-wide risk and part of the City Corporations UK-wide role. There needed to be a separate risk for the closure of small and medium-sized businesses in a range of sectors across the City. The City Corporation provides support for these SME through the Small Business Research and Enterprise Centre, and across other services. The Corporate Risk Manager said that the best approach would be for him to work with the Director of IG’s team on splitting out the risk. A Corporate Risk Register review was in progress, and there would be an opportunity at the Executive Leadership Board to put the case for a risk on SMEs to be elevated to the corporate level. The Chamberlain commented that the comments from Members was helpful in framing how the risks could be developed in the wider review timeframe. The next review of the Risk Register was due to the Committee’s meeting on 18 January, and this would include the flightpath on CR02. The Deputy Chairman (External) requested that further information on CR02 could be included in a future Committee report reviewing the Risk Register..
RESOLVED, that – the report be received and its contents noted.