The winner of the Labour Leadership contest will be announced at 11.45 on Saturday 24 September in Liverpool, and following the likely re-election of Jeremy Corbyn, the chasms between the Parliamentary Labour Party, the Labour Party membership and the electorate are set to widen.

Whilst Corbyn retains strong support among the Party membership, approximately 80% of Westminster MPs approved a vote of no confidence in him, and he trails the Conservatives by double digits in the polls at a time in the electoral cycle when the Opposition would be expected to be in the lead.

Yet Corbyn will be emboldened if re-elected, and the increased number of his supporters on Labour’s National Executive Committee means changes to party rules will be implemented to entrench his supporters in positions of power within the Party.

With the Boundary Commission Review also cutting the number of parliamentary seats, many Labour MPs will face some form of reselection, and whilst Labour may currently expect to see a reduced number of MPs in Parliament after the next general election, a greater proportion of those remaining are likely to be supporters of Corbyn’s Left-wing agenda. By the end of this Parliament a number of disgruntled Labour MPs may also leave politics altogether, returning to business or entering it for the first time.

A Corbyn victory will also bring in a more ardently ‘left wing’ agenda to Labour’s policy platform – with support for Trident withdrawn, tepid support for the European Single Market, increased taxes for high earners, opposition to grammar schools, less enthusiasm for NATO and a strong anti-austerity economic message. Much of this agenda will be an anathema to business, but business would be foolish to ignore Labour altogether.

In London, and in many local authorities around the country, Labour is still in power and there are moderate and progressive leaders seeking to work with the private sector to create employment opportunities and drive forward regeneration projects.

In Sadiq Khan, companies can look forward to working with a business friendly leader who wants to see London retain its position as a centre of international finance and a European business hub.

In Manchester, Andy Burnham MP is the Labour candidate for the position of Greater Manchester Mayor and he will be keen to put forward plans for greater control of local health spending and also to see further regeneration of the ‘Northern Powerhouse’.

Steve Rotheram MP, a committed Corbynite, is Labour’s candidate for Liverpool, looking to build on the recent success of the city in attracting inward investment and work with the respected council leader, Joe Anderson.

Birmingham is likely to be a close battle for the mayoralty with Labour choosing maverick former MP, Sion Simon as its candidate. If elected, Simon will want to secure greater recognition of Birmingham’s position as the UK’s second city with much recent attention focusing on Manchester.

As a result, business may increasingly look to local and regional leaders in search for political partners from Labour to drive the economy forward.