Pendle Council asks for further growth funding

Pendle Council is to ask its Policy and Resources Committee to approve further funds to support its Gearing up for Growth programme.

The business-focused project has distributed more than £600,000 over the last five years, generating an estimated £3.3m in private sector investment. It has helped launch 126 companies and a further 64 have used the funds to grow, creating a total of 470 new jobs.

The council would now like an extra £80,000 to continue its Grants for Growth work. The council has already approved nine businesses for grants of £10,000 this year, creating 49 jobs and safeguarding a further 53. The additional funding would be used to support eight more Pendle companies.

A further £30,000 would be allocated to continuing the Start-Up Pendle grant scheme which provides advice as well as financial support. Since 2015 these small grants of up to £2,000 have created 155 new companies.

Funds will also be used to support Pendle Business Week and a work inspiration event for pupils aged 13-14.

Councillor Paul White, leader of Pendle Council, said: “We're very proud of the success of the Gearing up for Growth programme. The key to Pendle's success is the strength of its local economy and we want to ensure that we're helping to create good jobs for local people. "Previous grants have been taken up by a wide range of industries across the borough, from aerospace to engineering and tourism. And they’ve ranged from new machinery, software and premises improvements and help to start up new engineering, catering and security businesses."