Lead firms key to growing precinct economies

Against seeming all the odds, lead firms in Philippi, are leading the economic turnaround of their precinct. Watch this video which explains how business went about addressing key impediments to investment and growth.

Encouraged by the speed of success, and based on good practice, the Chamber now invites other lead firms, in other precincts, to do the same. The Chamber is launching a focussed initiative called the Lead Firm Consensus (LFC) - empowering lead firms in industrial or commercial areas, to lead precinct rejuvenation. The Chamber will ensure that the right persons are in the room, to hear, understand and adjust plans to carve this new trajectory.

Why is this good for all of us?

If large and lead firms (in a precinct or industry sector) invest more, the economy grows. Increasing GDP, jobs and tax revenue. If they invest less, the economy declines.

Their views on the required conditions that would encourage them to invest more are, therefore, the most critical information for the public sector to understand in order to effectively reduce impediments to economic growth.

If public investment is directed toward the right areas, private sector investment will be unlocked, growing the economy and the tax revenues.

The Chamber will support lead firms wishing to establish LFCs, to increase their ability to influence their immediate part of the economy. It can start with as few as 5+ leads firms that are committed to drive improvement.

The Chamber support includes providing legitimacy, structure and principles for the LFCs to operate with efficacy. Wearing a Chamber hat, these LFCs have more influence, can mobilise more support and get the right decision makers in the room.

For efficacy and flexibility, LFCs are self-organising, subject to a code of conduct and Chamber governance.

Step up, shape a better future. Please submit enquiries to Marc@capechamber.co.za