Business support during the credit crunch
Lancaster City Council is continuing to support the district’s new and existing small businesses during the current economic downturn.
Lancaster City Council is continuing to support the district’s new and existing small businesses during the current economic downturn.
The Rent Grant Scheme, introduced in 2008, has given grants to a growing number of local businesses who have moved into commercial premises during recent months.
The scheme provides a boost for new and early stage businesses in specific sectors by offering grants of up to £2,500, based on 50% of the first year’s basic rent on commercial premises within the Lancaster district.
Award-winning web design and hosting company NuFuture Ltd, based in InfoLab21, is one of those companies which has benefited.
Set up in 2005 by Tom and Michael Ashworth, the company has a wide range of clients including the NHS and SHS International (sister company to Danone).
The company is expanding so rapidly that it needed to take another office to accommodate the growing team – now up to 12.
The city council’s Rent Grant helped them to do this and they are currently recruiting for more new positions.
Michael Ashworth said: “NuFuture is going from strength to strength despite the economic doom and gloom we keep hearing about.
“However, as with any early stage business, cashflow is crucial and we found the Rent Grant incredibly helpful at this critical time”.
Other Lancaster based companies to benefit from the scheme have included Crowberry Consulting Ltd, which is also based at InfoLab21, and designers and consultants Dean Marshall Ltd, one of CityLab’s new tenants
Abbott Bryning, councillor with responsibility for employment and regeneration in Lancaster, said: “In the current economic climate it’s wonderful to see new businesses starting up and so many of our existing small businesses flourishing. We want to encourage our local entrepreneurs and any financial assistance they can tap into will provide vital support during their early stages.”
To qualify for the Rent Grant scheme, businesses must have been trading for less than three years, employ no more than 10 full time staff and operate in certain sectors such as manufacturing, ICT/new media, environmental technologies, creative industries, services to industry and community enterprises.
They must also be able to show that there is potential for employment growth.
For more information visit www.lancaster.gov.uk/RentGrant or call 01524 582279.
Economic Development and Tourism is just one of a wide range of services provided to you by Lancaster City Council. These services would not be possible without the support of the £3.52 which, on average, you pay in council tax to Lancaster City Council . For more information on the council's services visit www.lancaster.gov.uk/makingeverypennycount.
Date Updated: 19/03/09