£20,000 cash boost to help South Cambridgeshre businesses

District Councillor Nick Wright.


SCDC's positive help for local businesses

Extra cash to help support small and medium-sized businesses who have been most affected by the economic downturn has been made available by South Cambridgeshire District Council.

The £20,000 funding boost means more companies will be able to bid for up to £1,000 to help them with the cost of training and other support.

The new money being made available follows a £70,000 war chest being set up two years ago which helped support 70 eligible local firms who had suffered hardship as the economy dipped.

Leading councillors have said that the investment being made also aims to give companies a “fighting chance” of turning around a business so they can grow and create more jobs.

To be eligible, businesses must already be established in the district, qualify as a small or medium sized enterprise – a company that has less than 250 employees – and be able to show that they have suffered financial hardship as a result of the current recession.

Exemplas – the business support company the Council has appointed to manage the fund – will also give eligible firms a ‘health-check’ and work with them to create an action plan to improve their performance. Funding may also be awarded to help eligible businesses to source the specific support they need.

Cllr Nick Wright, South Cambridgeshire District Council’s cabinet member for economic development, said: “The economic downturn has hit firms hard across the entire country, and although this area has weathered the storm better than most, we know our business community still needs extra support.

"We are trying to take a business friendly approach to our work and by giving companies who have struggled due to the downturn a helping hand makes a big difference as it can reverse their fortunes and even help them grow.”

John Collier, Chief Executive of Exemplas, said: "We are delighted to be working with South Cambridgeshire District Council on this new initiative. We have great experience of supporting small and medium sized enterprises as well as delivering specialist support across South Cambridgeshire. By collaborating with the Council we can bring considerable support and expertise to small and medium sized businesses through this difficult economic time."

To find out more about the business and financial help available through the business support fund, please contact South Cambs Business Support on 0844 346 0755, or email Southcambsbusinesssupport@examplas.com.

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