Surrey County Council leader David Hodge has signed a pledge to work with the Institute of Directors (IoD) to boost business in the county.
The two organisations also set out a commitment to seek apprenticeship places for young people close to their home.
Mr Hodge signed the agreement with David Seall, chairman of the IoD’s Surrey branch.
It comes after the Surrey leader pledged to ensure 60% of the authority’s spending on goods and services goes to Surrey businesses.
After signing the Memorandum of Understanding, Mr Hodge said: “Businesses are at the heart of our local communities and if they thrive, we all thrive.
“We have already set a goal of making sure 60% of our spending is with Surrey businesses and signing this agreement cements our commitment to working closely with local firms to help them flourish.”
Mr Seall said: “It is really good that we are working in partnership to help grow the economy and are putting our brains together to benefit businesses and residents.”
The county council has been helping companies make the most of opportunities provided by the 2012 Olympic and Paralympic Games. So far more than £740 million worth of 2012 Games related contracts have been won by Surrey businesses, which has boosted the local economy by around 3%.
In addition, the authority aims to help double the size of Surrey’s economy in the next 20 years. This will include ensuring 100% superfast broadband access in the county to help firms do business online.