Fund gives businesses a big boost

8.40.43pm BST (GMT +0100) Fri 11th May 2007

A special fund launched by Richmond Council is set to give local businesses a big boost.

The Council has committed £600,000 to the Economic Development Fund, which will primarily be used to invest in initiatives to increase business growth. On May 8, the Council's Cabinet agreed to invest £250,000 into environmental assessments of local businesses to help them identify ways to reduce their use of energy and water, minimise waste and increase profits. In addition, they agreed a total of £325,000 to secure funding for town centre management for at least the next five years. And a sum of £25,000 was pledged to improve employment opportunities for people with disabilities.

Council Leader, Cllr Serge Lourie, said:

"The Council is totally committed to supporting local businesses and the fund aims to benefit the widest range possible across the borough. I am delighted with the funding so far agreed. We have listened to what businesses want and have tried to reflect this in our spending commitments. For example, we have agreed a significant sum for assessments which will enable local firms to reduce their environmental footprint as well as their operating costs. We will be working up detailed proposals to implement this scheme over the summer, with the aim of delivering a lasting change for the borough."