Login Register

Burton businesses boosted to the tune of £150,000

By Burton Mail  |  Posted: July 26, 2014

ESBC logo

Comments (0)

COUNCIL chiefs have revealed that £150,000 has been pumped into boosting businesses as a result of a special funding project.

East Staffordshire Borough Council's business development fund has helped 21 business ventures and helped to create 63 jobs in the area.

However, bosses at the authority have stated that they will be conducting a 'detailed review' of the service in the coming months, to evaluate the impact of the scheme and whether it should continue.

Julian Mott, leader of the council, said: "The council is delighted that the £150,000 capital has been fully invested in supporting businesses and, as a direct result, 63 new jobs have been created for people in East Staffordshire.

"We are carrying out a detailed review of its success (the previous administration would have carried out a similar evaluation exercise) which will be completed by September.

"Any decisions on extending the programme will be taken by councillors after this time."

The business development scheme was launched in 2013 as part of a two-year project.

The fund is aimed at small and medium-sized businesses located in East Staffordshire who wish to grow and expand, and local entrepreneurs who need some financial support to make their business ideas a reality.

Existing small and medium-sized business are also able to apply for a grant of up to 50 per cent of total project costs, with a maximum grant totalling £10,000.

For new start-up companies that have been trading for fewer than 12 months, a slightly lower maximum grant of up to £5,000 is available, although a grant rate of up to 50 per cent of a project's cost would still apply.

Burton firm Crescent Motors was handed funding from the scheme to relocate to larger premises and create three jobs.

Read more from Burton Mail

Do you have something to say? Leave your comment here...

max 4000 characters