Trafford Council launches new loan package to assist town centre businesses

Thinking of setting up your own business in Trafford or need to access some extra cash for expansion, training or marketing? Trafford Council’s new, innovative and interest free Town Centres Business Growth Programme is here to help!

Sounds too good to be true?  Well think again. Trafford Council will loan potential or existing eligible businesses in Altrincham, Sale, Stretford or Urmston town centres the cash to fulfil their potential.

A scheme to encourage businesses to occupy vacant units, has been operating across Trafford since 2013 and has already helped 28 businesses get up and running with loans of up to £10,000.  Not only this; 118 jobs have been created and it is estimated that over £1m of private investment has been levered into town centres as a direct result of these openings. 

Now, following the success of this scheme, the Council is increasing the loan offer for businesses occupying vacant units and including the new loan opportunities to help fund marketing or training costs.

The loan fund offers the following:

  • up to £20,000 to businesses who will bring vacant ground floor premises back into use;
  • up to £5,000 to help promote and market a business and ensure that it remains competitive; and
  • up to £1,000 to help a business to upskill or improve customer care.

Executive Councillor for Housing and Strategic Planning, Cllr David Hopps said: “We are committed to supporting our town centres and enabling them to thrive. This Council has already helped 28 businesses to open with loans in excess of £260,000 and our town centres are once again beginning to thrive following the recession. The offering of loans allows the repaid funding to be reinvested in the town centres, maximising the Council’s investment.

In five years, vacancy rate across Trafford’s town centres is down 7 per cent and empty units are being snapped up – with many new openings being a direct result of Trafford Council’s support and investment.

We are currently investing heavily in improving the look, feel and flow of Altrincham and Stretford Town Centres; ploughing millions of pounds into regeneration works. We have a dedicated Town Centres Team which acts as the first point of contact to assist businesses in, or looking to locate to, the area and a Business Growth Advisor is on hand to provide specialist one-on-one  support for businesses.

We now need the entrepreneurs to make the next step by opening that dream business and existing businesses to take advantage of the help and support on offer in order to grow and flourish.”

For further information or to apply call 0161 912 4176 or emailbusiness@traff­
Posted on Tuesday 4th July 2017