In the here and now however the need for action to address the short term crisis is ever clearer and more urgent - to put it at its baldest maybe some quick and dirty fixes need to be implemented.

Even quick and dirty requires some sort of strategic thrust but there's a fairly clear consensus from all sides on where we need to get to- export driven growth generated by mid sized companies is the nirvana point sought from all sides. At which point the eyes of politician and policy wonks alike often find themselves staring wistfully and fondly at German and the legendary Mittelstand . Clearly in the short term there are some lessons to be learned about using high quality products (which we can do well in the Midlands) innovation, supply and export growth. In the longer term there are some bigger issues to address around how can we work in a more joined up way to build economic growth into the midlands DNA. But we need some action now that impels us along that path.
For more than thirty years we did have a tried and trusted financial support mechanism for these target mid sized businesses - it went through an alphabet soup in terms of acronyms morphing from RSA to GBI and possibly a few other scrabble games in the interim but essentially was a route through which government was able to support and stimulate private investment and job creation.

Lets not pretend for a moment it was a perfect system. There was what the experts called deadweight ( ie projects may have got more grant aid than the bare minimum required).The projections of job creation associated may often have been optimistic but it delivered. It was continuously available - no opening and closing dates for applications. Significantly the appraisal and enorsement of most grant applications was at a local level - approval by a board of local business people which allowed the system some latitude and a scope for nuance that reflected local circumstance and opportunity. For overseas investors, the grant was often important simply as a confirmation that government recognised and was happy to mitigate in ( often) a small way, the risk that was being taken in setting up in a new location.

This process was swept away within a few months of the 2010 general election - in its place came Regional Growth Fund - conceived essentially as a once and for all ( or to be precise once and a half and for all) allocation of some £1.5 billion to be done and dusted within a year or so and then wrapped up. Centrally administered, centrally appraised and centrally allocated and no concession to local nuancing -other than a hasty nod at the infant LEP's.

However as the coalition's Plan A grew a little less unyielding with the Pre Budget Statement last November came the news that there would be a further two rounds of RGF bids and some £1 billion to allocate. Maybe with the LEPs now better established its time to revisit the experience of RSA/ GBI and give the LEPs with their profound local insight a more emphatic role in the local determination and allocation of support and build back in some of the flexibilty ( and even fudge) of the RSA/ GBI system.

But rather than simply repatching the old wheel maybe also look - even in quick and dirty fix mode to address a gap that it never addressed.

Typically the business with real growth potential faces two daunting challenges - it is under capitalised and it is undermanaged ( ie the breadth of skill and experience to grow to full potential isn't developed and there is a needs for new approaches to leadership. The opportunity to reshape RGF to address the first of these challenges is clear - with regard to the second let the quick and dirty fix also innovate - make available part of any RGF grant to a successful bidder to be used to buy in consultancy, non executive support or other external aid that will help it address the under-managed challenge. Provide the new leadership is to enable organisations to best spot and use their potential, adjust to the post AWM world, expand the market, drive innovation and facing the new economic challenges with confidence.

And why not get all of this underway in the next three months - quick and far from perfect but moving emphatically in the right direction - and an ETA a long way in advance of 2026 !