Successful business grants scheme may be brought in around here
Monday, 16th June 2014.
A business grants scheme which has helped create new jobs in Forest Heath, may soon be introduced in St Edmundsbury.
Since the first grant was awarded in June 2011, Forest Heath District Council’s small business grant scheme has supported 30 start-up or new businesses.
Three years on from when the scheme was launched, a total of £43,000 has been invested helping support the creation of 54 new jobs, and a turnover of around £2.1million a year.
The grants applications are made through Suffolk Enterprise Agency MENTA. Grants to a maximum of £1,500 are available on a 50 per cent match funding basis. The grants are available for business prior to trading or within their first year.
Of the 30 businesses that received the grant, only two have failed – and one of those was through ill health.
Now St Edmundsbury Borough Council’s cabinet, will be asked to consider replicating the success of the scheme, when it meets next week. It proposes funding the grants using developer money from the Asda supermarket in Bury.
The two councils are already working together under the banner of West Suffolk.
Cllr Alaric Pugh, St Edmundsbury’s cabinet member for economic growth said: “This is a brilliant scheme that is creating sustainable new jobs and bringing prosperity to the area.
“It is only a small grant but it could make all the difference to a start-up business and bring big returns. I really look forward to its introduction within St Edmundsbury.”
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