A £1.6 million pound growth fund for businesses across Stafford Borough has been launched

Local businesses, and those looking to start, will be able to get a grant of up to £5,000 from the pot in the latest round of funding from Stafford Borough Council.

The council say the money will be given on a ‘first come first served’ basis and has been introduced to help their business community adapt and grow following the challenges of the pandemic.

A team of council advisors will be on hand to help applicants as part of the process. 

Since March 2020 the borough council has distributed more than £47 million to businesses who have struggled due to restrictions introduced to combat the spread of Covid-19.

The latest round of funding will be delivered in phases across three sectors:

• Borough residents looking to start up a business before April 2022
• Those in the hospitality, tourism and leisure sector who have plans to develop and grow their businesses in 2022
• To support businesses in rural areas planning to develop new products and services

The application process is now underway on the first phase - for residents looking to start up a business.

The closing date for applications is 30 September.

The new cash boost to start ups coincides with the phasing out of the national furlough scheme next month.

The borough council will be announcing the opening of applications for the other phases of grants next month.

Councillor Frances Beatty, Cabinet Member for Economic Development and Planning, said this was an exciting new initiative to help businesses recover and thrive post-pandemic.
She said:

“Many of our businesses have started to turn the corner having done all they can to survive during the last 18 months. They have proved to be sustainable, adaptable, and with great ideas for future working - and we want to help make them a success.

“This will be a partnership between business and council. They will receive free business advice as part of the application process because we want to ensure that the appropriate funding goes to the right places to deliver the best outcomes.”

She added:

“I am very pleased we are able to offer more financial support on the back of the many millions we have previously distributed to local businesses during some exceptionally challenging times since March of last year. And it has been wonderful to hear how this support has enabled some to create stronger business models than before.”

Karen Woolley, Development Manager for the Federation of Small Businesses (FSB) said:

“It’s great to see Stafford Borough Council yet again stepping up to the plate to help those wishing to start their own business. The past 18 months has been extremely challenging for many small businesses, especially those in the hardest hit sectors such as hospitality and leisure, and this fund will prove a lifeline for new start-ups. 

“Small businesses are the life blood of our local communities and we are delighted that the council is dedicating further resources to help get the fantastic ideas, products and services of new businesses to market. “

For details of other funding and advice go to Business Support - Coronavirus | Stafford Borough Council (staffordbc.gov.uk)