News & views

This page sets out the business perspective on the current landscape, the impact on growth, and the opportunity to move forward collaboratively. 

Leicester, Leicestershire and Rutland (LLR) has a strong and diverse business base, a proud manufacturing heritage, and significant innovation assets.

However, without a devolved governance structure, the region faces increasing challenges in securing funding, aligning priorities, and competing with other parts of the UK. 

The Challenge

Unlike many comparable regions, LLR does not currently operate under a formal devolution deal or combined authority structure. 

This creates: 

• Fragmented decision-making across multiple authorities
• Limited ability to act at scale
• Reduced visibility at national level

Other UK regions with devolved powers benefit from clearer governance, stronger funding settlements, and more direct engagement with central government. 

Funding Inequality  

The absence of devolution has real implications for how funding is accessed and deployed. 

Devolved regions are better positioned to: 

• Secure long-term investment
• Align infrastructure and skills funding
• Deliver strategic economic programmes

For LLR, this can result in: 

• More limited access to major funding opportunities
• Short-term or fragmented funding allocations
• Reduced ability to plan and invest at scale

This is not about ambition but about structure. 

Impact on Business  

For businesses across the region, this environment creates practical challenges: 

• Slower delivery of key projects
• Increased complexity when engaging with multiple stakeholders
• Reduced investor confidence in the absence of clear regional leadership
• Missed opportunities for growth and expansion

Despite this, the LLR business community remains resilient, innovative, and ambitious. 

A Strong Economic Proposition 

Leicester, Leicestershire and Rutland has significant strengths, including: 

• Advanced manufacturing and engineering
• Innovation and research capabilities
• A diverse SME and entrepreneurial base
• A strategic central UK location

With the right framework, these strengths could be leveraged far more effectively. 

Business Voice 

Through engagement with our members and wider stakeholders, there is a consistent message: 

• A need for stronger regional alignment
• Frustration at missed opportunities
• A desire for collaboration across boundaries
• Support for a clear and unified economic voice

The Opportunity 

 A more coordinated and strategic approach could: 

• Improve access to funding
• Strengthen investor confidence
• Accelerate delivery of infrastructure and skills programmes
• Better position the region nationally

LBV Position 

 Leicestershire Business Voice believes that progress will come through: 

• Constructive collaboration between partners
• Clear and shared economic priorities
• Stronger alignment between the public and private sectors

This is not about political structures—it is about enabling sustainable economic growth. 

Resources 

– Devolution roundtable slides 

– LLR devolution briefing paper (to follow)