Council business loans and grants lever £2.6 million private sector investment

Warwickshire County Council's business loans and grants programme has now supported more than 100 small businesses and, in the process, generated more than £4.5 million for the local economy.

Since its inception in 2015, the loans and grants programme has become a bedrock for small companies across the county.

It has now supported 101 businesses with loans and grants worth more than £1.9 million. These have levered private sector investment of an additional £2.6 million to further stimulate the county's economy.

Together with that private sector investment, the loans and grants are safeguarding and creating jobs in businesses in many sectors in all parts of Warwickshire.

The loans and grants(the former delivered in partnership with Coventry and Warwickshire Reinvestment Trust) will create an estimated 311 new jobs within the county and safeguard a further 202. 

During its first three years the programme has supported a remarkably diverse range of businesses specialising in everything from engineering to distilleries, from IT to earth works and from optical care to campsites.

Comments from business-owners about the loans and grants programme include:

"The whole experience around the support has been superb and the advice first-class."

"Our intention was to employ three people by the end of the year but that has already happened."

"The grant really helped us take the steps we needed to grow our business."

Warwickshire County Council's Portfolio Holder for Finance and Property Peter Butlin said: "I am delighted that more than 100 business have now been supported by our loans and grants scheme.

"In Warwickshire we are fortunate to have an amazing breadth of small businesses powered by some fantastic entrepreneurs in so many sectors. The high quality and prosperity of these small business is a big factor in the continuing strength of the county's economy.

"Sometimes, a small business just needs that extra help and support in order to become established and grow and we are proud that, over the last three years, our loans and grants together with our business support programmes have enabled so many to do that with the resultant positive effect on the local economy."

To find out more about the range of support available to grow your business including access to finance, please contact the Growth Hub on 0300 060 3747.