Business turnaround experts at Wilson Field say economic devolution for Rotherham, as part of Sheffield City Region, offers widespread opportunities for the town’s business owners and entrepreneurs.
“But despite recent body blows delivered, Rotherham has every reason to be optimistic.
Devolution, which was recently formally ratified by Rotherham Metropolitan Borough Council, will benefit Rotherham in both financial benefit terms with funding opportunities. It will allow it to have a greater say in local decision making.
Importantly it will allow public and private sector leaders to continue to work together to strengthen businesses. This will let them create more, and better, jobs for people in the town, says Andy Wood, associate director from Wilson Field.
He added; “Historically the region has been heavily dependent on one or two major industries and employers and we have seen how once these collapse, then it is difficult to thrive.
“First we saw the demise of the coal industry, and it is now facing similar issues with large scale redundancies following global issues affecting steel.
“But despite recent body blows delivered, Rotherham has every reason to be optimistic. Like others it will survive through joined up thinking with private and the public sector, innovation, entrepreneurial people and investment.”
In recent years, Rotherham has experienced the growth of self-employment and the divergence into growth sectors such as advanced manufacturing, creative and digital, business professional and financial services, energy and environmental.
Over 100 overseas companies have already invested in Rotherham.
Andy added; “Its excellent transport links combined with competitive land prices makes it one of the most cost effective locations in the UK. The joint Rotherham and Sheffield economy has a larger working age population than Leeds.
“Rotherham has more than 27 per cent of its workforce (25,000) working in growth sectors. This is not only the highest proportion of any of the South Yorkshire districts, but is above the national average of 26 per cent.
“It also has the highest rate of business spend on research and design in South Yorkshire, at £2.9M per 10,000 jobs.
“There is every reason to have confidence that Rotherham, and its range of diverse industries, offers excellent conditions for jobs and business.”