Income generation is an increasingly essential part of providing sustainable local services.
Local government is under immense financial pressure to do more with less. The 2015/16 spending review is forecast to result in a £13 billion funding hole by 2020 that requires councils to make savings of up to 29 per cent.
Local leaders are ready to be more commercial, and our report gives them the tools to maximise their ability to generate income and develop their income generation strategies by providing the following:
Local authority spend analysis - Councils’ business case for change
Amidst financial pressures, councils must generate income to keep delivering the best services for their area.
Examples of innovative financial mechanisms - Learning from innovative income generation practices
Innovation is key to addressing the public sector’s challenges and making the most of the available opportunities.
Critical success factors to consider
Local authorities have opportunities to generate additional income in many ways. However, understanding the needs of the area and the capabilities of their authority to ensure they select the most suitable option is key.