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STOP PRESS......

Search is on for the most enterprising place in Britain

The hunt began for the UK's enterprise success stories with the launch of the Enterprising Britain 2009 competition by Lord Mandelson, Secretary of State for Business, Enterprise and Regulatory Reform.

The Enterprising Britain competition seeks out areas of enterprise excellence from across the UK - villages, towns, cities and neighbourhoods which have embedded a culture of enterprise that supports and encourages their entrepreneurs and businesses, helping them to survive the downturn and emerge stronger on the other side.

The 2009 competitionwas launched in Scarborough, the winner of last year's hotly contested competition and the results will be announced at an awards ceremony in Prague in May.

The Scarborough Renaissance Partnership - a coalition of local businesses, residents and council representatives - transformed the declining seaside town into a shining example of enterprise achievement, stamping out seasonal unemployment, creating new industry sectors and attracting more than £200m of private sector investment along with hundreds of new jobs. It reduced economic dependence on the declining tourism and fishing industries, capitalised on the physical regeneration of the harbourside, kick-started a boom in business start-ups and introduced Freebay Wifi along the coast, making the internet accessible to all.

BUSINESS ARTICLE of the WEEK

Thousands of Job Cuts: Is There a Strategy Behind the Layoffs?

In a single week in January, corporations around the world laid off nearly 100,000 workers. Since September last year, more than half a million jobs have been eliminated, even at companies that were doing well some time ago. A number of observers are blaming this trend on the economic downturn or on a restructuring of the global economic system. But is this really the case?

According to experts from Wharton and elsewhere, what companies are experiencing is neither an indication of a transformation nor a blanket prognosis for the rest of the economy. Instead, they say, the job announcements highlight operational weaknesses and strategic issues that have been lurking under the surface for years.

NEWSFLASH of the WEEK

Bank lending is still falling

Lord Mandelson has been forced on the defensive following recent criticism of the Enterprise Finance Guarantee (EFG) Scheme saying that the amount of EFG lending 'capped' due to EU rules and normal bank lending is continuing to fall at a rapid rate.

Launched in mid-January 2009, the EFG scheme ment to help credit-worthy companies access the finance they need for working capital or investment finance. Under the scheme, the government will guarantee 75% of any loans made, with the bank covering the remaining 25%. The old Small Firms Loan Guarantee Scheme has been suspended.

According to Government reports, over 400 loans have already been offered under the EFG scheme. The data from the British Bankers' Association (BBA), on the other hands show that in the fourth quarter of 2008 alone, total bank lending dropped by £159 million and 400,000 smaller employers are in line to renew or increase their lending agreements by the end of March 2009.

MANAGEMENT TIP of the WEEK

Don't Get the Wrong First Impression

Do you sort new people you meet into two groups based on your perceptions of their intellect, cooperation, and initiative: those you'll rely on, and those you won't?

This sorting is necessary, but risky as labels stick. If you've erred in your sorting and manage people according to your beliefs (for example, micromanaging employees as you think they need a lot of help, or ignoring shy people as awkward) they will disengage.

To avoid this, test your first impressions. Make an effort to get to know people a bit better to find out what they are good at. Your labels will be more accurate and your network much more effective.

EVENT of the WEEK

ESRC Festival of Social Science 2009: Discuss, Discover, Debate.

Date: 6-15 March 2009
Venue: several across the UK
Price: free

The ESRC Festival of Social Science will give you a fascinating insight into some of the country’s leading social science research and how it influences our social, economic and political lives - both now and in the future.

This is the seventh year that ESRC has held the Festival of Social Science, and each year the Festival grows from strength to strength.

More information on events and venues please go to: http://www.esrcfestival.ac.uk

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Entelliz Weekly Newsletter - week 10, 2009