Regional business think-tank launched

A new regional business think-tank has met for the first time, to help put regional and small business needs on the Government agenda.

The Regional Economic Council was established in October as part of a number of measures to improve financial security for UK businesses.

The council, chaired by the chancellor, Alistair Darling, and the business secretary, Lord Mandelson, aims to ensure that regional and small business concerns are "heard and acted upon across Government".

The council is made up of business and regulation ministers, Regional Development Agencies (RDAs), local councillors and representatives from business groups and trade unions.

John Wright, national chairman of the Federation of Small Businesses, told More Than Business News that the council "will be a useful forum for small businesses who need action now".

However, he warned that "it needs to be more than just a talking shop. Small businesses need direct action to save them in these testing economic times".

Start-up business website Launch Lab also voiced concerns, saying "this smells like another weak measure that will achieve no practical improvements for businesses in the UK".

"The fact that it has RDAs as members is a poor start and while businesses are represented through lobbies, they are outnumbered by Government officials."