OxLEP – who have supported thousands of the county’s businesses, entrepreneurs and community groups to flourish for almost 15 years – will next month, adopt a new trading name as a major shift in national policy for Local Enterprise Partnerships reaches a conclusion.
From 1 April, OxLEP will operate under the guise of ‘Enterprise Oxfordshire’, with the change marking the completion of a two-year process that has seen the economic development functions – previously led by Local Enterprise Partnerships – altered so that they are to be overseen via a mechanism agreed by respective upper-tier local authorities, in this instance, Oxfordshire County Council.
The shift in policy was originally announced by the previous Chancellor Jeremy Hunt at the then Government’s Spring Budget in March 2023.
Since then, both OxLEP and Oxfordshire County Council have worked closely to ensure a refreshed and clear governance process was created, whilst maintaining operations and meeting the changes required by Government.
What followed in November 2024 saw the County Council’s full cabinet announce that OxLEP Ltd would remain, with the County Council acting as the organisation’s 100% shareholder – known as a Teckal company arrangement.
OxLEP – who since its launch in 2011, have secured £441.7million of investment for Oxfordshire via the government’s Local Growth Fund and Getting Building Fund – would then adopt the new trading name, active from 1 April, as well as maintaining its independent company status.
Building on its significant legacy as OxLEP, Enterprise Oxfordshire will oversee the delivery of a comprehensive set of business, skills, investment and trade support services, as well as supporting a variety of strategies backing Oxfordshire’s economic potential to be delivered in a sustainable and inclusive manner.
The introduction of Enterprise Oxfordshire mirrors many new arrangements to have been confirmed across England over the past 24 months.
Depending on the frameworks developed between respective local authorities and former LEPs, areas in England now have a variety of arrangements in-place, each suited to support their own local economic development activity and priorities.
Some former LEPs have been fully integrated into upper-tier authorities, some continue as independent organisations with a governance link in-place with their authority, whilst others have been closed permanently.
The creation of Enterprise Oxfordshire is a specific arrangement for this county.
The organisation’s chief executive believes that the change represents an exciting future, including for those businesses, entrepreneurial individuals, communities, education providers and many other groups who have historically sort OxLEP’s backing and support.
Nigel Tipple – Chief Executive of OxLEP – said: “Of course, this is a big change for us as an organisation – however it is an exciting one and we are delighted to introduce Enterprise Oxfordshire and begin our refreshed relationship with Oxfordshire County Council too.
“Although our name is changing, what is not lost is our experience, knowledge and positive impact on the Oxfordshire economy, diligently built over the past 15 years. We are looking forward to bringing this approach into a new era and under the guise of Enterprise Oxfordshire.
“We will continue to work in partnership with our business community, education providers and wider communities to ensure they are able to flourish, succeed and enjoy new opportunities and openings.”
Enterprise Oxfordshire will begin life building on a significant legacy left by OxLEP.
Its last impact report – detailing activity delivered during the 2023/24 financial year alone – highlighted how OxLEP developed almost 700 bespoke support plans for Oxfordshire businesses, secured £842,000-worth of grants to over 50 visitor economy businesses in the county, whilst also optimising over £2.6million of underutilised apprenticeship levy (a figure that has now reached over £3.6million) into new apprenticeship schemes, filling business need and skills gaps – funding that would have otherwise been lost to Oxfordshire and returned to the Treasury.
This new arrangement with Oxfordshire County Council is one that has been implemented previously by a number of local authorities, creating a structure for companies to operate in fields such as health care, adult social care and other public services.
A Teckal company – also known as a Local Authority Trading Company (LATC) – are companies wholly-owned by a local authority, set up to operate certain services or functions.
The shift to a Teckal company is also coupled with a much-refreshed new governance structure, including a reduced Board presence, down to three members – two of which represent Oxfordshire County Council (one elected member and one executive member) with a third Non-executive Director to become the new Chair of Enterprise Oxfordshire, representing the county’s private sector.
The organisation will continue to communicate as OxLEP until 1 April, before switching to its new trading name – this switch will be particularly visible across Enterprise Oxfordshire’s digital channels which will be fully-updated to reflect the new arrangement.
Nigel Tipple added: “Through our top-class legacy, we remain the ‘go to’ organisation for those looking to start-up, develop or take on a new business challenge, as well as those aiming to inspire new career and skills opportunities too.
“We are excited to build on an already solid relationship with Oxfordshire County Council, acting as a vibrant catalyst and convener to support an inclusive and sustainable economy which we can all be proud of and – as Enterprise Oxfordshire – we will work hard to develop new programmes and initiatives that support our motivated business community and associated groups and organisations.”