Encouraging business overview

London is a major business location and has a strong employment record in specialist sectors . However London's businesses face many challenges, and their success is put at risk by high costs, intense competition and a complex regulatory environment.

The London Development Agency (LDA) aims to address the issues that prevent London's firms performing as efficiently and effectively as possible and identify areas that justify public sector intervention.

Our objectives are to:

• address barriers to enterprise start-up, growth and competitiveness
• maintain London's position as a key enterprise and trading location
• improve the skills of the workforce
• maximise the productivity and innovation potential of London’s enterprises
  

While much of our activity crosses all industry sectors, the focus for our business support and development is prioritised and includes the creative and production industries, innovation, life sciences  and environmental sectors.

Our work continues to secure funding for our most deprived areas. We ensure delivery is integrated as far as possible with existing programmes, reducing duplication and simplifying business support across London. Wherever possible, we build on best practice.

Supporting small and medium enterprises (SMEs)

We are the strategic leader of business support in London managing the Business Link support service for London entrepreneurs and SMEs, including social entrepreneurs and enterprises.

Our work complements other established regional and national schemes and we have a strong track record of helping small-to-medium-sized enterprises (SMEs) to access finance for their expansion and growth, as well as offering a number of loan and grant schemes.

The LDA's work supports the growth and start up of women-owned businesses; disabled entrepreneurs and the Black, Asian and Minority Ethnic (BAME) business community.

Big Business

In terms of both economic impact and most effective use of the LDA's resources, engagement with large companies has been identified as a key priority. This will enable us to work with business to address market failures and meet our economic goals around skills, social inclusion and improved environmental performance.

Large companies are already being targeted through various LDA projects such as inward investment and business retention, Diversity Works, Women in London's Economy, Olympic opportunity, tourism and emerging markets to name a few.

Maximising Olympic opportunity

The LDA aims to maximise long term business benefits created by the catalytic effect of the 2012 London Olympic and Paralympic Games. It is currently working with the Olympic Delivery Authority (ODA) to ensure that the procurement processes adopted for the 2012 Olympic and Paralympic Games offer the greatest opportunity for London's businesses.

By working with the voluntary and community sector (VCS) to engage London’s diverse communities we aim to:

• tackle worklessness;
• realise the economic and social benefits of the Olympics
• develop the Olympic cultural offer
  

We will also continue to promote London as a tourist destination and support the tourism sector.