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Five-year business recovery plan sees immediate investment in enterprise centres

Mon 15 Jun 2020

A five-year business recovery strategy to support the county economy in getting back on its feet following the Covid-19 crisis includes an £870,000 investment in two enterprise centres.

This is on top of the £860,000 already committed by the county council to support the local economy to recover.

Like the whole of the UK, Staffordshire’s economy will suffer a negative impact as a result of Covid-19 – however the strategy looks to build on the county’s established strengths and seek new opportunities arising from the crisis.

Since the Covid-19 outbreak began, the county council has put in place several support programmes. Last week it launched the Staffordshire Start-up Programme for people looking to start their own business. Its aim is to see the creation of 200 start-up businesses in key sectors each year, over the next three years. A micro-business grant scheme enabled companies with nine employees or less to apply for grants of up to £1,000 thanks to a £500,000 investment by the county council. The LEP also launched its Redundancy and Recruitment Triage Service to support those who have been made redundant or who are at risk.

The county council’s enterprise centres offer small businesses units with flexible short-term rental arrangements. They provide on-site business support, meeting rooms, networking opportunities and parking. Two of the most popular are the centres at Cannock Chase and Silverdale, Newcastle.

The expansion will see 21 new units created across the two centres and 45 new jobs. Work is set to begin imminently thanks to the investment by the county council (£355,850), the Stoke-on-Trent and Staffordshire Local Enterprise Partnership (£371,150) and the joint county council/Cannock Chase District Pye Green Investment Fund (£150,000).

The county council will be working closely with the local enterprise partnership and district and borough councils to support businesses through the strategy. It will be reviewed on a constant basis to reflect the ever-changing economic landscape resulting from the Covid-19 crisis.

 

Read more HERE.