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Thriving local economies

Our first pilot: Bury

 

Our pilot areas

We want to ensure that this initiative is relevant to all parts of the UK. We will therefore look at four different types of place – a metropolitan area; a smaller town; a rural area and a coastal community. These will be geographically spread around the country. We are looking to undertake this initiative in areas which are broadly typical of their type of community. We are deliberately not targeting areas of greatest deprivation; but, rather, areas which are statistically representative of their kind of community based on things like average income; employment; educational attainment and business start-up levels. As such our pilots will each contain areas of affluence, deprivation and everything in between: just like the UK as a whole.

Our first pilot: Bury

Bury, in Greater Manchester, will be our first pilot area. Barclays has been present in Bury, in one form or another, since 1798 when woollen merchants John Grundy and Abraham Wood founded a predecessor bank based in Silver Street. Historically famed for its cotton industry, today Bury has a more diversified local economy.

Bury will be our ‘metropolitan pilot’ as a large town in the Greater Manchester area. Overall, the borough serves a population nearing 200,000 people. We have chosen Bury as a town which is broadly typical of its kind of place based on metrics across income, employment, educational attainment and business start-up levels. As a result, what we learn in Bury should be highly relevant to the town, but will also be of use to other places which have similar demographics and economies.

We have been engaging with a range of local stakeholders in Bury and are excited about the opportunity that we have, working with many other people and organisations who care about the success of Bury, to inform the thinking about the town today, and in the future. We will share further information and insight about the pilot as we move forward; including publishing research into the local economy; detail on actions we agree to take and measurement of their impact over time.

If you would like further information about the pilot, please email: thrivinglocaleconomies@barclays.com