Venture Forth Report to Council 25 September 2008（二）.docVIP

CLACKMANNANSHIRE COUNCIL Report to Council of 25 September 2008 Subject: Venture Forth Limited Prepared by: P J Broadfoot, Head of Administration and Legal Services SUMMARY The Council is, along with Stirling Council, a shareholder in Venture Forth Limited. As a shareholder, the Council has the right to appoint a Director to the Board of the Company. Following the local government election in May 2007, the Council did not nominate anyone to be its Director. In order to fill this vacancy, the Council is now invited to nominate an elected member to be its Director on the Company. RECOMMENDATIONS It is recommended that the Council nominate an elected member to be a Director of Venture Forth Limited. BACKGROUND Venture Forth Limited was set up in 1993. Its main purpose is to promote commerce and industry in the Clackmannanshire and Stirling areas. Falkirk Council had been a founding shareholder, but subsequently withdrew. The Company can give grants and loans to encourage the formation and development of small to medium sized businesses. In recent years, the Company has been largely inactive and consideration has been given to whether or not it should continue and, if so, on what basis. As a shareholder, Clackmannanshire Council is entitled to nominate someone to be a Director of the Company. Until the local government election in May 2007, Councillor Carrick was the Councils Director on the Company. No appointment was made following the 2007 election so it is now suggested that the Council nominates an elected member to be its Director on the Company. CONCLUSIONS It will be advantageous to the Council to have a Director appointed to the Company should proposals for the future of the Company be put forward. SUSTAINABILITY IMPLICATIONS None. FINANCIAL IMPLICATIONS None. 6.2. Declarations (1) The recommendations contained within this report support or implement Corporate Priorities, Council Policies and/or the Community Plan: Corporate Priorities (K