A seaside town where 5,000 new businesses have been set up in the past two years, creating almost 10,000 jobs, was named the enterprise capital of Britain.
Lowestoft in the East of England is said to have transformed itself from a town in decline hit by industrial downturns into a breeding ground for business growth.
The town, the most easterly in the country, ranks in the bottom 15 most deprived areas in the UK and beat off competition from London, Glasgow, Hull, Anfield in Liverpool, Merthyr Tydfil in south Wales, and Chatham in Kent to win the Government-run award.
Thanks to funding from the local enterprise agency NWES, the first centre for performing arts opened and money was invested in renewable energy.
Scott Cain, deputy chief executive of Enterprise UK, said: "Lowestoft and specifically NWES has demonstrated outstanding vision and drive to become this year's Enterprising Britain winner. It's an inspiring story of inspiring people coming together to change lives."
Trade, Investment and Small Business Minister Lord Davies said: "Enterprise remains the engine room of our economy, with 4.8 million businesses last year contributing more than 50% to the UK's turnover.
"NWES has turned a deprived seaside town into a community that is no longer dependent on a few major employers. In these tough economic times it has established a strong enterprise culture in the region, supporting growing businesses and creating jobs.
"In the current economic climate, we must continue to place enterprise at the heart of our businesses and communities."
UK Capital Investments Group News, December 2009
Tuesday, December 1, 2009
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