Support for your business during the current economic climate
Real Help for Businesses Now
Invest in Shropshire has been in contact with BERR - Department for Business Enterprise & Regulatory Reform to ask what specific government support is available to smaller companies, especially those based within rural areas. In response BERR have provided a pdf, which is available here to download, which details all relevant support.
In addition BERR have launched a new website www.realhelpnow.gov.uk providing an updated picture of available support for all businesses during this recession
Support West Midlands
The West Midlands Taskforce who's role is to support the West Midlands through the current economic downturn have launched a new website www.supportwm.co.uk with the aim of pointing both businesses and individuals in the right direction during these difficult times.
The Transitional Loan Fund
Set up by Advantage West Midlands with a cashpot of £4 million of Government Funding and made available to Shropshire businesses that are struggling to obtain financial assistance. Its aim is to address the problems businesses are already facing in obtaining credit through banks and other traditional routes.
The Transitional Loan Fund offers viable business loans of between £50,000 and £250,000 to help bridge the gap for small and medium enterprises (SMEs) suffering short-term funding problems due to the current financial crisis. Businesses who think they may be eligible should contact Paul Wheeler on 0121 200 8195 or visit www.advantagebridgefund.com for more details.
Credit Crunch Hotline
Business Link West Midlands
is also playing its part setting up a ‘Credit Crunch’ hotline - 0845 0020900 and running a series of seminars throughout the region to help businesses cope with the tougher trading and credit conditions. They also provide free business health checks for businesses within Shropshire.
Shropshire Business Board
The Shropshire Business Board has invited all the major banks to a special meeting to discuss their policies on supporting small businesses through the current economic difficulties.
Letters have also been sent to the Governor of the Bank of England, Baroness Vadera, the Minister for Economic Competitiveness and Small Business, and Ian Austin MP, West Midlands Minister asking how they intend to ensure that businesses have access to more and cheaper finance. Also the letters question what else the government is planning to do to support businesses through this period.
Geoffrey Davies OBE, Chairman of the Shropshire Business Board, said: “We will be discussing the issues facing Shropshire businesses and how banking policies on local business support and loans might assist in solving problems. We hope this will be an opportunity to share experiences, priorities and ideas and to forge positive relations between the banks and Shropshire businesses.”
Advice and Guidance for Employers and their Workforce.
Jobcentre Plus in conjunction with its partners, have produced a leaflet designed to give employers advice on where they can access help to survive the current economic situation, or where to seek help when they are in a redundancy situation.
A copy of the leaflet Advice and Guidance for employers and their workforce is available as a pdf or for businesses in Shropshire, Herefordshire and Worcestershire can contact:- Jamie Jacobsen on 01432 363672
Learning and Skills Council employer factsheet
The LSC have produced an employer factsheet that sets out the support currently available to employers, including information on Train 2 gain, Apprenticeships and Skills Pledge - available here as a PDF
This information has been bought to you by Invest in Shropshire on behalf of Shropshire Council's Economic Development Team. If you would like to speak to someone within the team please contact us on 01743 252274 or email
economic.development@shropshire.gov.uk