Monmouthshire County Council (MCC) has invested £200,000 to help foster enterprise and social entrepreneurship in the county. The “Effectiveness Fund” will enable the council to make one of investments in projects that develop the county’s economy and help its business sector.
Cllr Bob Greenland, MCC’s Deputy Leader and Cabinet Member for Modernisation, Enterprise and Communications said,
“Public services are operating in an environment of significant instability and transition. The only certainty for Monmouthshire County Council in uncertain times is our own resourcefulness. We are clear about the challenge to deliver ‘more for less’ and create more opportunities for our people, communities and businesses to thrive. This approach is not only about having a plan, strategy or even a ‘way forward’ – it is about how we develop our mind set for the future!”
The money will be used in a variety of ways, most importantly it means that the council be able to respond to opportunities as they arise. That could include funding to attract other forms of investment, leverage and an ability to plan effectively to exploit future opportunities as they arise.
Monmouthshire County Council receives the lowest financial settlement from Government per head of population in Wales. Monmouthshire is also not eligible for the vast majority of public funding streams and cannot access the EU structural funds that neighbouring local authorities can. However, the council recognises that public funding is just one source of investment and our eye is on a bigger prize that involves commercial finance, inward investment and sustainable wealth creation.
