Businesses can apply for £50k loans as part of council’s support suring pandemic
SMALL rural businesses will be able to apply for loans of up to £50,000 as part of Staffordshire County Council’s latest round of economic support for firms facing challenging times.
The authority is also looking ahead to helping the county’s hospitality, leisure and tourism businesses reopen when lockdown restrictions are eased, cabinet members heard on Wednesday.
Staffordshire County Council has already launched a number of schemes in recent months to help businesses to recover from the coronavirus crisis, such as support for employers and workers who may be facing redundancy decisions and assistance for firms looking to take on apprentices.
Council leader Alan White announced the new loan scheme for rural businesses in his update to cabinet members at their February meeting last Wednesday.
He said: “It’s the latest in our extensive package of support for Staffordshire businesses during the pandemic to help them bounce back and return to profit quickly and sustainably.”
Councillor Philip White, cabinet member for economy and skills, said the authority would be signing off on the new scheme in the coming weeks.
He added: “We will be providing grants of between £10,000 and £50,000 to businesses outside of our towns, in conjunction with Stoke on Trent City Council and the Black Country Reinvestment Society. That will be a fund of £2m, which will provide loans to many businesses of that type.
“We’re also working to develop our plans for supporting the reopening of our leisure, tourism and hospitality sectors and I hope to be able to report back to cabinet on that in the next meeting. We have some plans to significantly enhance our investment and focus on those areas.”
The proposals to support small businesses were warmly received by fellow cabinet members.
Councillor Julia Jessel said: “Sometimes we forget that Staffordshire is a predominately rural county.
“There are opportunities, there are people wanting to set up their own businesses, and if this helps them on that road I think that is to be very much welcomed.”
Councillor Mark Deaville, who runs a rural pub in the Staffordshire Moorlands, said: “Small businesses are the lifeblood of our county’s economy and I think the small businesses have taken the biggest hit during the last 12 months.
“Very sadly, some of them won’t recover. Heartwarmingly, many of them will and I think the future is bright.
“As a small businessman in Staffordshire I think growth this year will be gradual. I’m really enthusiastic and think that there will be considerable growth during 2022.
“I’m really pleased to hear of your future plans for the leisure, tourism and hospitality industry because that industry needs assistance and that leg up in the future more than other industries.”