| Action | Description | Strategy/Alignment |
|---|---|---|
| Influence regional enterprise support programmes |
| Walsall Business Growth Strategy Walsall Learning, Skills & Employment Strategy |
| Develop local marketing and business development support |
| Walsall Business Growth Strategy |
| Enable effective signposting and triage to business start up support |
| Walsall Learning, Skills & Employment Strategy |
| Connect aspiring entrepreneurs with mentors |
| Walsall Learning, Skills & Employment Strategy |
| Grow the social economy |
| Walsall Learning, Skills & Employment Strategy |
Walsall Economic Framework 2025 - Pillar A: Business And Innovation
Priority 1: Productivity and Innovation
Aim: “Stimulate productivity through innovation.”
Rationale: Walsall has a productivity gap with the UK average and many local residents commute out of the borough for higher-paid work. Despite these structural challenges, Walsall has a base of businesses with high growth potential and/or aligned with national and regional sector priorities, plus a competitive presence in vital supply chains. With limited resources, targeting support at those businesses with the greatest growth potential will secure the greatest economic impact, creating opportunities for more higher paid roles within Walsall. Higher levels of innovation can drive productivity growth, generate better paying jobs and secure Walsall’s position as global drivers of change impact bring in national and international. Several partners play an important role in developing and coordinating business support services in Walsall, including regional provision through the Economic Development Vehicle, national business support, and further and higher education providers.
Expected action areas
Priority 2: Investment
Aim: “Increase business investment in Walsall to create more and higher value jobs.”
Rationale: Employment in Walsall has declined in the last 8 years and job density is significantly lower than the England average. Walsall’s economy has more than its fair share of lower-value sectors while its presence in higher-value sectors has shrunk. Low levels of investment have limited Walsall’s ability to address the economic inequality that underpins high levels of deprivation found in parts of the borough. Increasing investment in business will strengthen Walsall’s competitive position and make it a more attractive location for investors to help Walsall secure better jobs in higher value markets.
Expected action areas
| Action | Description | Strategy/Alignment |
|---|---|---|
| Influence regional enterprise support programmes |
| Walsall Business Growth Strategy Walsall Learning, Skills & Employment Strategy |
| Develop local marketing and business development support |
| Walsall Business Growth Strategy |
| Enable effective signposting and triage to business start up support |
| Walsall Learning, Skills & Employment Strategy |
| Connect aspiring entrepreneurs with mentors |
| Walsall Learning, Skills & Employment Strategy |
| Grow the social economy |
| Walsall Learning, Skills & Employment Strategy |
Priority 3: Startup and Scale Up
Aim: “Create a vibrant ecosystem that supports startups to succeed and scale..”
Rationale: Walsall’s business base is dominated by micro and small enterprises but has lower business density than the wider West Midlands and England. Walsall has a healthy track-record in business creation and a young population from where the entrepreneurs of tomorrow will emerge. Many local businesses face barriers to accessing finance, workspace and growth advice, which impacts on survival rates and therefore business density. Supporting more start-ups and encouraging scale-ups will help create a pipeline of growth which can help close these gaps, strengthen sector diversification and help make Walsall more resilient to economic shocks. This should include a focus on supporting new social enterprises that combine profit with purpose, more resilient communities and ethical business practices. A strong entrepreneurial ecosystem will also help attract more inward investment.
Expected action areas
| Action | Description | Strategy/Alignment |
|---|---|---|
| Influence regional enterprise support programmes |
| Walsall Business Growth Strategy Walsall Learning, Skills & Employment Strategy |
| Develop local marketing and business development support |
| Walsall Business Growth Strategy |
| Enable effective signposting and triage to business start up support |
| Walsall Learning, Skills & Employment Strategy |
| Connect aspiring entrepreneurs with mentors |
| Walsall Learning, Skills & Employment Strategy |
| Grow the social economy |
| Walsall Learning, Skills & Employment Strategy |