To ask the Minister for the Economy to outline what consideration she is giving to the redesign of the enterprise support ecosystem, including the potential re-establishment of the entrepreneurship co-design group.

Dr Archibald

Small businesses are the backbone of our economy. They make a huge economic and social contribution to local communities across the North. To better understand the challenges and opportunities that they face, I am establishing an SME entrepreneurship co-design group. The group will be made up of stakeholders from the enterprise support ecosystem, representing government, academia, finance and business support organisations. It will collaborate to develop an action plan with recommendations that are aimed at increasing business creation across the North and enhancing the overall entrepreneurial landscape. The action plan will have a lifespan of up to three years. My Department will oversee its implementation in partnership with co-design group members. Membership of the group is being finalised at present. Once that is done, the group's work will start, with the aim of publishing an action plan before the end of the year.

Dr Archibald

As I said, we hope to establish it very soon, and we aim to have an action plan published before the end of the year. The group's work will then continue over the next three years. Its membership is still to be finalised, but the broad groups that I mentioned — government, academia, business support organisations, enterprise support organisations and the finance community — will be involved. Once we have finalised the membership, I will be happy to share it with the Member and rest of the Assembly.

Mr Boylan

What does the spending review mean for the future of Go Succeed, which has become a core part of the local enterprise ecosystem?

Dr Archibald

I thank the Member for his question. The British Government's spending review was announced on 11 June. They have committed to the creation of a new local growth fund to replace the Shared Prosperity Fund, but they have, so far, failed to provide the detail about the fund and how it will be delivered. We do know, however, that the funding that will be available over the next three years will be fixed in cash terms at the level provided under the Shared Prosperity Fund in 2025-26. In other words, it is a funding cut in real terms. The Shared Prosperity Fund failed to replace fully the value of the EU structural funds that were available here in the first place, so to be facing further reductions in funding is deeply disappointing. That will have an impact on the future of the programmes, including Go Succeed, that were delivered under its banner and the level of service that is able to be provided. Last week, I spoke with Alex Norris MP from the Ministry of Housing, Communities and Local Government and asked him to provide clarification on the local growth fund urgently. It is vital that Go Succeed be told what funding may be available to support its services and how it can be accessed as soon as possible. The same is true for the other programmes that are delivered under that banner.