SUPPORTING ECONOMIC REGENERATION
SMALL BUSINESS
PARTNERSHIPS
IN THE CITY FRINGES ASPIRATIONS EMPLOYMENT
Who we are The City of London Corporation supports and promotes the Square Mile, the world’s leading international financial services centre. The Square Mile, or the City, is one of the most prosperous places in the country, but is surrounded by some of the most deprived areas in the UK. For this reason, the City of London works with partners in the public, private and voluntary sectors to help bring lasting social, economic and physical regeneration to our neighbouring boroughs: the City fringes.
What we do We actively work with partners and contribute to a range of regeneration projects, as well as commissioning dozens of initiatives across the following themes: Raising the aspirations of young people in the City fringes to help them gain employment in the City. Maximising access to employment opportunities for City and City fringe residents. Supporting enterprise and small businesses in the City fringes.
Why we do it The City of London shares a border with seven London boroughs which are among the most disadvantaged in England. The City fringes face high levels of unemployment, social exclusion and child poverty. Despite the high deprivation levels, the City fringes have huge potential, given their large populations, entrepreneurial spirit, business clusters and strategic locations. We are committed to bridging the gap between the City and its neighbours and increasing prosperity across the City fringes. 2
The Square Mile is surrounded by some of the country’s most deprived neighbourhoods. According to the Government’s Index of Deprivation 2010, which compares relative affluence and deprivation using a range of economic, social and housing indicators, three of the seven City fringe boroughs fall within the top 5% most deprived areas in England. Hackney is the second most deprived area in England and Tower Hamlets the seventh. Indices of deprivation 2010 1% most deprived in England 5% most deprived in England 10% most deprived in England 20% most deprived in England 25% most deprived in England 30% most deprived in England Outside of the 30% most deprived in England
Raising the aspirations of young people We develop and support initiatives that raise the aspirations of young people from the City fringes in relation to the wealth of career opportunities in the City. Some of our projects build links between City businesses and local schools. Others respond to the needs of groups from the City fringes which are underrepresented in the City, such as care leavers, ethnic minorities, and hard-toreach young people who are not in education, employment or training (‘NEETs’). Some initiatives are as short as a half-day tour of a City firm, others are as long as a three-month programme of workshops and mentoring.
City fringe students tour City firm Herbert Smith LLP Students from the City of London Academy in Southwark and Highbury Grove School in Islington visited the City offices of law firm Herbert Smith LLP through the City Corporation’s programme of City tours, City Careers Open House. The firm’s employees treated the students to a tour of the facilities and an introduction to career opportunities ranging from Security Officer to IT Technician to Corporate Lawyer.
“I liked the tour and that all these people had time to see us. I would like to say thank you for this experience and I would love to work here when I’m older.” Highbury Grove student.
“The firm and our volunteers really value our participation in these programmes. Bringing local students to our offices helps them to connect with the firm and break down barriers. Our volunteers enjoy the experience of meeting with young people and offering them an insight into the world of work and possible career options.” Employee volunteer from Herbert Smith.
Results Around 3,000 City fringe students visit City firms each year through our programmes.
CASE STUDY BRINGING YOUNG PEOPLE INTO THE CITY
Participants come away with more self-confidence and a better understanding of various career paths. Employee volunteers develop presentation skills and connect with the local community.
ASPIRATIONS
Footnote: This City Careers Open House tour of Herbert Smith LLP was facilitated on the City Corporation’s behalf by the Brokerage Citylink.
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Maximising access to employment opportunities In response to the clear mismatch between the demand for skilled workers by City employers and the ability of some local residents to access job opportunities, we deliver a training and employment programme focused on prospects in the City. Our programme helps City fringe residents to develop skills required in City jobs. We support City fringe job brokerages to cater to the needs of City firms. We encourage City employers to recruit from the City fringes. Our Employment Charter for Construction provides industry-led training and access to job opportunities on construction sites in the City.
City firm White & Case hires through Fringe Benefits White & Case took on two high calibre candidates from City fringe boroughs through the City Corporation’s local recruitment programme, Fringe Benefits. The programme matches local candidates drawn from universities, local job brokerages and employability charities to entry level opportunities in City firms. White & Case’s latest Fringe Benefits recruit, Arnold Collier, works in their IT department.
“Arnold has brought a degree of energy and enthusiasm for his role that we seek in all our candidates and is now a highly valued member of the team. Fringe Benefits, in our experience, is an excellent route for finding good quality candidates.” Simon Johns, IT Director – London, White & Case.
“Now I realise that I have the skills and ambition to succeed in the City.” Arnold Collier, Junior IT Support Analyst and Fringe Benefits recruit.
Arnold Collier and Simon Johns
CASE STUDY EMBEDDING LOCAL RECRUITMENT IN CITY FIRMS
Results Fringe Benefits supports around 30 City firms to recruit local candidates each year. Participating City firms adopt a more diverse recruitment policy and address issues of social mobility. Local candidates from under-represented and disadvantaged backgrounds are given access to the professions.
EMPLOYMENT 4
Footnote: Fringe Benefits is delivered in-house by the City Corporation.
Mohammed Marikar – City Business Trainee to Business Development Manager at UBS Mohammed registered on the City Business Traineeship (CBT) scheme, which provides students from the City fringes with paid summer work placements in the City, while he was finishing his A levels. After taking part in CBT workshops designed to prepare him for job interviews, Mohammed secured a CBT placement at UBS. He has never looked back.
Mohammed Marikar, Associate Director, UBS, and past CBT trainee, receiving the CBT special recognition award on behalf of UBS.
“After my CBT placement I was invited back to work at UBS the following two summers. I finally joined UBS permanently as a graduate and am now Business Development Manager in the UK Wealth Management division. I believe my progression at UBS is largely as a result of the relationships I built whilst on my CBT placement, in particular with my mentor who held a senior position and was able to offer sound advice and encouragement.” Mohammed Marikar, Associate Director, UBS, and past CBT trainee.
“The CBT programme helps us access a diverse talent base which we would not otherwise reach, and we have successfully moved several trainees into full time jobs.” Richard Zaborski, Executive Director, Human Resources, UBS.
Results
CASE STUDY PAID WORK PLACEMENTS IN CITY FIRMS
Around 100 City fringe young people secure paid CBT work placements in around 30 City firms each year. Dozens of past CBT trainees have gone on to work full-time in the City. Thousands of students’ employment prospects have improved as a result of CBT CV and interview skills training.
EMPLOYMENT
Footnote: The City Corporation funds the CBT scheme which was established in 1994 and, since 2001, has been delivered by the Brokerage Citylink.
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Supporting enterprise and small businesses in the City fringes We deliver a substantial business support programme to facilitate the development and growth of small businesses in the City fringes through the provision of premises, guidance, and help to access finance. We support projects under the following themes: Supporting the growth and development of small businesses. Developing small business workspace in the City and its fringes. Facilitating access to finance. Encouraging local procurement among City firms.
Dynamyk Events gets ‘Ready to Supply the City’ In 2011, Hackney based small business Dynamyk Events joined Ready to Supply the City, a City of London programme that provides targeted business advice to small enterprises from the City fringes and makes links to City firms’ supply chains. Ready to Supply the City gave Michelle Fanus, owner of Dynamyk Events, the opportunity to meet the first tier suppliers of City firms Accenture, CMS Cameron McKenna, and Goldman Sachs.
“Ready to Supply the City is helping me to develop my business. It is providing introductions and also advice on how to grow the business further by accessing supply chains in the right way.” Michelle Fanus, owner of Dynamyk Events.
Michelle Fanus
“Identifying competitive and high quality local suppliers is an important aspect of our procurement activities and our overall CSR strategy, Ready to Supply the City helps us do just this.” Robert Powell, Head of CSR, CMS Cameron McKenna.
Results More than 400 small businesses from the City fringes have received targeted Ready to Supply the City business support.
CASE STUDY CONNECTING CITY FIRMS WITH CITY FRINGE SUPPLIERS
Dozens of City firms and their suppliers have participated in Ready to Supply the City roundtables and Meet-the-Buyers events.
SMALL BUSINESS 6
Footnote: This Ready to Supply the City introduction was facilitated by HBV Enterprise.
We work with partners from the public, private and voluntary sectors to bring about long term renewal and economic regeneration across our neighbouring boroughs. We contribute resources, expertise and support at both officer and board level and fund projects delivered by our partners.
The following are among our key partners: The Brokerage Citylink – an independent not-forprofit organisation working in partnership with City employers to create a pathway to the City for young residents of London’s inner-city boroughs. www.thebrokerage.org.uk Central London Forward – a cross-sector partnership providing a ‘voice for Central London’ on matters of key concern to the communities and businesses of Central London. www.centrallondonforward.gov.uk City Action – the City Corporation’s flagship employee volunteering brokerage service linking City firms with community projects in the City and neighbouring boroughs. www.city-action.org Cross River Partnership – a public/private partnership, which works to improve the links between the wealth and prosperity in central London and deprived areas on both sides of the Thames. www.crossriverpartnership.org East London Business Alliance – a business-led and business-funded partnership encouraging and facilitating business involvement in the social and economic regeneration of East London. www.elba-1.org.uk
Heart of the City – a charity helping businesses in the City and City fringes to learn from one another in developing socially responsible practices. www.theheartofthecity.com Local Education Business Partnerships – such as Inspire! the Education Business Partnership for Hackney and Tower Hamlets EBP, support the development of young people by facilitating partnerships between businesses and schools. www.inspire-ebp.org.uk www.thebp.org Local Enterprise Agencies – much of our business support work is delivered on our behalf by local enterprise agencies: Centa Business Services www.centa.co.uk; East London Small Business Centre www.goeast.org; HBV Enterprise www.hbv.org.uk; and GLE oneLondon www.one-london.com Lord Mayor’s Dragon Awards – recognises exemplary community involvement projects from businesses and public bodies across Greater London. www.cityoflondon.gov.uk/dragonawards
PARTNERSHIPS
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SUPPORTING ECONOMIC REGENERATION
IN THE CITY FRINGES
This publication is available in alternative formats on request from the City of London Partnerships Team.
Partnerships Team Economic Development Office City of London Guildhall PO Box 270 London EC2P 2EJ Telephone 020 7332 1268 Website: www.cityoflondon.gov.uk/regeneration Email: partnerships@cityoflondon.gov.uk