Brown boost for inner city business

13 April 2012

CHANCELLOR Gordon Brown will on Wednesday launch an initiative aimed at regenerating inner city areas. The scheme - backed by the London Development Agency - links established corporates with small businesses.

Four pilot schemes have been running with LDA funding and co-ordination since last year. Areas covered include Elephant and Castle, Tower Hamlets, Southall and Tottenham. The companies involved include Shell, Deutsche Bank and BAA. The idea came from Professor Michael Porter of Harvard Business School, who has pioneered the approach in the US.

He said: 'Experience has shown that sustainable economic development will only happen in urban deprived areas as it has elsewhere - by building competitive businesses and a business environment that supports companies and attracts investment based on competitive advantages.'

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