Creating a wealthy local economy

Cornwall Chamber of Commerce was delighted to partner with Bloom on a prestigious, procurement-focused event last week. This comes as a part of our recent business partnership, selected because we feel it aligns with our goals as a Chamber. The partnership allows us to connect businesses in Cornwall with the Bloom platform, which can introduce them to public sector contract holders such as Cornwall Council, Universities, the NHS and many more. Effectively this allows us to be instrumental in keeping the Cornish pound in Cornwall, and furthermore, bring the London pound to Cornwall.

Cornwall’s economic scene

Cornwall’s GVA is an estimated £11bn, of which £4.6bn comes from public sector contracting. Ergo, almost half of the money circulating in the Cornwall economy comes from contracts for work paid for by the tax payer. Our public sectors are enormous here in Cornwall and Cornwall Council makes up a whopping tenth of that £11bn. One tenth of all the money in Cornwall is within its local authority. Bloom can connect businesses to this source of income.
As a Chamber of Commerce, it is our MO to keep Cornwall’s economy within its LEP boundaries, which means we select local providers for any of the work we need carrying out. This is something we would like to see replicated by all local public service providers, since it also adheres to the social value initiative public sectors are aligned with. If we can operate within a Social Value Act, we can create a wealthy local economy.
What are the benefits of joining Bloom?
Bloom’s Cornwall ambassador, Robert Salvoni spoke of the three legs to the stool or three beneficiaries to Cornish businesses choosing to sing up to the Bloom platform, which are listed below.

Cornwall Public Sector

• Expand beyond CC
• Broaden Categories
• Deliver Social Value

Bloom

• On-Board Cornish SMEs
• Promote Cornish SMEs
• Give access to UK market

Cornish Suppliers

• Win new contracts
• Expand beyond Cornwall
• Bring business growth and job security