Grants scheme to help small businesses grow

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News

Funding to help small businesses grow will soon be available after councils agreed a new grants scheme.

Adur and Worthing councils will each have a £71,428 pot to distribute to eligible enterprises by the end of September.

It follows a successful pilot scheme developed by Arun District Council which launched in September.

Councillor Bryan Turner, Worthing Borough Council cabinet member for regeneration welcomed the scheme.

Mr Turner, who ran a pharmacy business with his wife, Val, said: “I welcome this and hopefully small businesses will as well. We used to pay 20-25k in business rates and is sometimes seems you don’t get very much back for it.

“I am sure we can administer this so it creates some jobs in Worthing and fuels economic growth and improves skills.”

The scheme, to be known as the Local Enterprise and Apprenticeship Platform, will use funds from the county-wide pooled business rates scheme.

A business development grant for ‘micro’ businesses will be available, with chunks up to £2,500 up for grabs for projects such as boosting staffing or diversification.

An apprentice grant will also be available for firms with up to 50 members of staff.

Both will require match funding.

Council figures highlight more than 5,200 businesses across Adur and Worthing could be eligible.

Final details are yet to be released but the scheme is expected to be open for applications by the end of the month.

For more information, click here.