Agenda item

The Executive RESOLVED that

(i)            the remaining budget left in the Kevin Cantlon Shop Fronts Scheme be re-purposed for business support projects following the COVID-19 Crisis;

(ii)          As part of the business Support work, Economic Development to work with organisations and associations who work with businesses to support and guide SHBC in the correct level and type of business support needed;

(iii)         research be undertaken either at LA level or with Borough and District colleagues to understand the impacts and needs of the business community so that support can be targeted; and

(iv)          authority to spend the fund be delegated to the (Acting) Chief Executive in consultation with the Business & Transformation Portfolio Holder.

The Executive was reminded that in 2017 a Shopfront Scheme fund of £100,000 had been agreed which would be available for eligible businesses to seek grants to improve their shopfronts. It was reported that there had been a low take up of the fund, with £87,000 remaining in the budget.

It was proposed to repurpose the remaining budget in the Scheme allowing for greater support to be given to businesses following the COVID-19 outbreak. The business support would be in line with the current and future economic development strategies to ensure that the projects delivered were consistent with the borough’s needs and wider objectives.

It was noted that the proposed repurposing of the funds would provide sufficient flexibility and scope to award grants as required in the uncertain economic climate; furthermore, it was clarified that repurposing the fund would not preclude eligible businesses from applying for grants to upgrade their shopfronts.

RESOLVED that

(i)        the remaining budget left in the Kevin Cantlon Shop Fronts Scheme be re-purposed for business support projects following the COVID-19 Crisis;

(ii)      as part of the business support work, Economic Development work with organisations and associations who work with businesses to support and guide the Council in the correct level and type of business support needed;

(iii)     research be undertaken either at Local Authority level or with Borough and District colleagues to understand the impacts and needs of the business community so that support can be targeted; and

(iv)     authority to spend the fund be delegated to the (Acting) Chief Executive in consultation with the Business & Transformation Portfolio Holder.