New Regional Economic Observatory to positively impact Derbyshire region’s businesses, people and communities.

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A new initiative designed to support local businesses and communities, has recently been launched by the University of Derby.

The University of Derby Regional Economic Observatory (UDREO) aims to work with local businesses to build a robust evidence base to inform economic and social policy deliberations, engage with people and communities and produce analysis to support engagement with local and national government policy.

The University will regularly collect empirical data on business intelligence, social attitudes and the labour market, so it can report on the real challenges, barriers and opportunities facing the region. The UDREO’s first task has been to develop a new business diagnostic tool, designed to offer businesses tailored information on how they can recover and improve performance during the current economic climate.

The UDREO initiative was launched at the University’s ‘Planning for Growth in 2022’ event on 16 February. Dr Mark Gilman, Professor of Economics at the University of Derby, is leading the initiative. Speaking about the launch, he said: “Business growth is integral to successful regional economies. However, many firms are constrained by factors such as employee skills, finance, innovation and strategic planning, and are experiencing new challenges, intensified by the pandemic.

“To support companies in addressing these obstacles, the University’s business diagnostic tool will focus on helping organisations grow quicker, work better, and perform more competitively.”

For further information on UDREO visit www.derby.ac.uk/UDREO

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