Cultural capital investment interim impact evaluation

This report provides interim impact evaluation evidence on a major initiative to develop the quality and opportunity of cultural provision in the East Midlands. Eight venues across the region have been supported through an investment totalling £120 million, which include a mix of brand new buildings and bringing new life to existing facilities. This report sets out what the investment has achieved so far and how information on the impact of the venues will be collected in the future

Contribution of the Peak District National Park to the economy of the East Midlands

The aims of this study were to assess the contibution made by the Peak District National Park to the performance of the local and East Midlands economies and consider the nature of the relationship between the Park and surrounding market towns and other economic centres

Interim evaluation of investment readiness programme (Invored)

Report presents the findings of an evaluation of the Investment Readiness (InvoRed) Programme, a business support programme funded by emda with the aim of helping high-growth businesses and start-ups understand and access finance more effectively. The evaluation covers the period January 2003 through to June 2008. Builds on previous work undertaken by SQW, investigating access to finance in the region in 2007, and aims to quantify the economic impact of the programme and provide recommendations

Can the state empower communities through localism? An evaluation of recent approaches to neighbourhood governance in England

‘Empowerment’ is a term much used by policy-makers with an interest in improving service delivery and promoting different forms of neighbourhood governance. But the term is ambiguous and has no generally accepted definition. Indeed, there is a growing paradox between the rhetoric of community empowerment and an apparent shift towards increased centralisation of power away from the neighbourhood in developed economies. This article explores the literature relating to empowerment and identifies two broad conceptions which reflect different emphases on neo-liberalism. It goes on to discuss two models illustrating different levels of state intervention at the neighbourhood level and sets out evidence from two neighbourhood councils in Milton Keynes in central England. In conclusion, it is argued that those initiatives which are top-down, state-led policy initiatives tend to result in the least empowerment (as defined by government), whereas the bottom-up, self-help projects, which may be partly state-enabled, at least provide an opportunity to create the spaces where there is some potential for varying degrees of transformation. Further empirical research is needed to test how far localist responses can challenge constraints on empowerment imposed by neo-liberalism

Establishing a new UK finance escalator for innovative SMEs: the roles of the Enterprise Capital Funds and Angel Co-investment Fund

This paper examines UK public policy addressing the seed and early stage equity finance gap since the Global Financial Crisis (GFC). Drawing on lessons learned from recent studies of UK and international government equity schemes, two contemporary models of government backed equity finance are examined. The focus is on the Enterprise Capital Funds (ECFs) and the Angel Co-investment Fund (ACF), the UK government’s main schemes operating in the sub-£2m equity finance gap to address the capital requirements for developing the UK’s young, potential high growth businesses. The paper highlights the shortcomings of traditional interim fund performance analysis and presents current demand and supply side evidence that establishes that these schemes are making attributable impacts on their portfolio businesses and the wider UK economy. It also demonstrates that they are playing important roles in the establishment of a new post GFC UK finance escalator. However, whilst these schemes were found to be currently complementary and effective, their future roles within the UK’s evolving post GFC seed and early stage equity markets are also considered. Key Words: Government Equity Schemes, Venture Capital, Potential High Growth SME

The participation myth

Policy rhetoric around strategies to and the value of increasing participation in the arts has been well documented internationally over more than a decade. But in the UK, which is the focus for this article, targets to increase participation have been consistently missed and there remains a direct correlation between those taking part in cultural activity and their socio-economic status. The starting point for this article is to examine the barriers to increasing participation in the arts and question the way that such policy has been implemented within the English context, which may have relevance for policy making in other countries. What is demonstrated is that policy implementation is influenced by vested interest of those in receipt of funding and that a narrow range of voices, from a powerful cultural elite, are involved in the decision making in the arts. The article makes a case for widening the range of voices heard in decision making in order to support both artistic practice and public engagement

The impact of Participatory Budgeting on health and wellbeing:A scoping review of evaluations

Background: Participatory budgeting (PB), citizens deliberating among themselves and with officials to decide how to allocate funds for public goods, has been increasingly implemented across Europe and worldwide. While PB is recommended as good practice by the World Bank and the United Nations, with potential to improve health and wellbeing, it is unclear what evaluations have been conducted on the impact of PB on health and wellbeing. Methods: For this scoping review, we searched 21 databases with no restrictions on publication date or language. The search term ‘participatory budget’ was used as the relevant global label for the intervention of interest. Studies were included if they reported original analysis of health, social, political, or economic and budgetary outcomes of PB. We examined the study design, analysis, outcomes and location of included articles. Findings are reported narratively. Results: From 1458 identified references, 37 studies were included. The majority of evaluations (n = 24) were of PB in South America, seven were in Europe. Most evaluations were case studies (n = 23) conducting ethnography and surveys, focussing on political outcomes such as participation in PB or impacts on political activities. All of the quantitative observational studies analysing population level data, except one in Russia, were conducted in South America. Conclusion: Despite increasing interest in PB, evaluations applying robust methods to analyse health and wellbeing outcomes are scarce, particularly beyond Brazil. Therefore, implementation of PB schemes should be accompanied by rigorous qualitative and quantitative evaluation to identify impacts and the processes by which they are realised

Business angel investment activity in the financial crisis: UK evidence and policy implications

The 2008 financial crisis has transformed the financial environment for small and medium-sized enterprises, resulting in significant declines in the availability of bank lending and venture capital. This has prompted government intervention to improve the availability of debt and equity capital. Whereas there are comprehensive statistics on bank lending and venture capital investments, equivalent information on business angel investment activity is lacking. This paper draws upon three sources of evidence on business angel investment activity in the UK—business angel networks, Scottish angel groups, and individual angels—to reveal for the first time how the angel market has fared during the early stage of the financial crisis. While the evidence is not entirely consistent, it is clear that angel investment activity has held up since the onset of the financial crisis. This further emphasises the economic significance of business angels and underlines the need for ongoing government support. Policy options are reviewed