Stevenage business grant scheme launched to help boost local economy

PUBLISHED: 08:28 01 February 2020

Business owners can pitch for grants of up to £2,500 to grow their company. Picture: Pexels.

Business owners can pitch for grants of up to £2,500 to grow their company. Picture: Pexels.

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As part of its commitment to support an enterprising and innovative local economy, Stevenage Borough Council is launching its annual business grant scheme for 2020.

Business owners can pitch for grants of up to £2,500 to grow their company.

The closing date is February 28 and successful applicants will be invited to the borough council's headquarters in March to pitch on how the money will be spent.

For example, you may wish to put the grant towards research and development, introducing a new product or service, expanding into a new market, or acquiring a new office.

Previous winners of the Business Support Grant include Bike Stop - a motorcycle protective clothing and equipment retailer in Stevenage Old Town.

Bike Stop introduced a café in-store and a new website. The thriving business also holds a number of bike events throughout the year, supporting the wider Old Town economy by bringing visitors into the area.

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Bike Stop's owner, Martin Brown, said: "We were delighted to have been awarded the business grant, as it came at the perfect time to support our new website and truly advance our Old Town High Street retail experience online."

We Grow Businesses - a small business consultancy firm - was awarded second place, while Stevenage Injury Clinic was awarded a grant of £800 to expand its business by taking a further unit at the Stevenage Business Technology Centre. The money also helped pay for marketing to support the introduction of new services.

To be eligible to enter, your business must have fewer than 10 staff and you will need to explain your future business plans and how the money would be used to support these plans.

For more information about the grant scheme, and to find out how to apply, visit stevenage.gov.uk/business-advice/210941.

Councillor Lloyd Briscoe - the council's executive member for economy, enterprise and transport - said: "As a co-operative council, we are fully committed to supporting our businesses to accelerate growth and succeed.

"This is a great way for businesses to access finance in order to support the next stage of growth. I would like to wish all the applicants every success."

This year, grants of £1,000, £1,500 and £2,500 are up for grabs.

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