THE Nottingham Business Summit. Sounds great, doesn't it? Summit: the highest point; a conference of the important. An occasion for key decision-making. The start of something transformative.

The launch of a consultation draft of the Nottingham Economic Growth Plan. Somehow doesn't have quite the same ring, does it? Process, discussion, debate…?

In truth, the occasion did not feel like a seminal moment. But nor did it feel like just another talking shop. It set an open and bold agenda. A number of the speakers eloquently captured the collective sense of commitment to, and ambition for, our city. There was a clear recognition of the need for things to be done differently and of the need for things to change.

Reading through the consultation draft of the Growth Plan I am first reminded of the many things about Nottingham that I really like. The elegant solidity of the Council House; the brilliant design of Caruso St John's building for Nottingham Contemporary; the European charm of our trams; and the easy modernity of my offices at ng2 Business Park, to name but a few.

I could have added to those the fact that, from the centre of the city, we can see green fields where the city ends and the countryside begins. A reminder that Nottingham is big enough to provide for most needs but small enough to be manageable.

We need to be realistic about our limitations whilst celebrating the qualities that help to make Nottingham an attractive location to live and work.

Someone once told me that Nottingham is where the south ends and the north begins. While aware of the dangers of hackneyed generalisation, there is something in this observation.

The city succeeds in attracting and retaining a wide range of people who feel comfortable with it. At its best, it combines a distinctive cosmopolitan flair with genuine friendliness and decency.

It is not, then, surprising that the best of Nottingham manifests itself when a willingness and capability to grab the opportunities beyond the city is coupled with a strong connection to it. BioCity, under the leadership of Glenn Crocker who moved here from Cambridge, has recently established a facility in Scotland. The University of Nottingham, under the leadership of Prof David Greenaway, a Scottish Nottinghamian, has achieved global ranking in part through establishing overseas campuses. And our High Sheriff, Sir John Peace, chairs global businesses.

Let's develop a growth agenda for Nottingham that proudly celebrates our most ambitious and successful. Those that have established strong reputations further afield; those not confined by the city's boundaries but with a strong local sense of purpose.

Our city council recognises that it needs the support of business and other organisations. While applauding its ambitions for economic growth, we should recognise that the council has a challenging task in challenging times, not least in tackling the serious issues of deprivation which affect parts of the city.

It is neither fair nor realistic to imagine that the city council can provide all the leadership that an ambitious growth plan requires.

Leadership from business and other successful institutions – leadership that understands the world beyond the city – will be critical to the plan's success. That leadership must ensure the plan is clearly action (and results) orientated rather than process driven. With that leadership, we could be on to something really exciting. Maybe, even, something transformative.

David Tilly is partner at Nottingham law firm Geldards.