A number of new funding initiatives are in the pipeline to help improve business growth in the Wealden District.
Cllr Roy Galley, Cabinet Member for Economic Development and Regeneration at Wealden District Council, said small businesses are the backbone of the Wealden economy.
He said the latest business breakfast held by Wealden District Council helped highlight the funding opportunities for small businesses.
But to help business further East Sussex County Council has been awarded £4million to create a programme of loans and grants to help businesses grow and create jobs.
And a consortium of local businesses and councils, including Wealden, has just been awarded Regional Growth funding to set up Escalate, a £5.5 million fund to encourage business growth along the A21 corridor which straddles Kent and Sussex.
Cllr Galley said: “Small businesses are the backbone of the Wealden economy and a lack of suitable business finance is acting as a brake on growth and local job creation.
“The County Council will be adding its own money to create a £6.5 programme of loans and grants to help businesses grow and create jobs.
“Escalate will provide loans on a mostly interest‐free basis to businesses and is looking to invest in projects along the A 21 corridor that will lead to sustained job creation and business expansion. If you need assistance to access these funds.
Wealden District Council’s officers are available to help.”
Wealden District Council’s Community & Regeneration Team can be contacted on: email: email@example.com; telephone: 01892 602884.
More than 50 businesses and organisations attended Wealden’s July Business Breakfast. It included a presentation by the Federation of Small Businesses on Keeping Trade Local.
Research indicates that more of shoppers’ money spent with local shops, traders and firms, stays within the local community. Every £1 spent with a local supplier is worth £1.76 to the local economy and only 36p if it is spent with a national chain.