£700K in business support to “bolster Tower Hamlets’ vibrant economy”
Hundreds of local entrepreneurs are set to benefit from a £700,000 investment into four new programmes to help them achieve their business aspirations.
The investment is set to empower 250 individuals to become qualified entrepreneurs, establish 150 businesses, create 50 social enterprises, and support 50 women-led or owned businesses.
The first programme – the ‘Lean Start Up Support Programme’ – which is funded by the UK Shared Prosperity Fund, is designed for those looking to start a business without financial support and will be run by Rebel Business School.
The second programme, also funded by the UK Shared Prosperity Fund, is the ‘Supported Access to Finance Programme’ and is aimed at those wanting to start a business while learning how to access and apply for funding.
This will be managed by Allia Impact, and participants who finish this programme can apply for a £2,500 grant.
Both of these programmes are for new entrepreneurs who have never owned a business or registered as a sole trader.
The other two programmes, funded by the Strategic Investment Pot Inclusive Growth, focus on established businesses in the area and will be led by Sara Carter Training & Consultancy.
The ‘Women in Business Programme’ will support 50 small, independent businesses owned by women, while the ‘Social Enterprise Impact Programme’ will help Voluntary and Community Sector organisations.
The four new programmes were launched on 19 September at an event held at the Town Hall in Whitechapel.
Council representatives and programme delivery partners were joined by 79 residents and local businesses who were eager to learn more about the opportunities and partake in a networking lunch.
Cllr Musthak Ahmed, Cabinet Member for Jobs, Enterprise, Skills and Growth at Tower Hamlets Council, said:
“We are privileged to be positioned in an area of London that attracts both local residents and tourists and is enriched by a wealth of creative and business-minded individuals.
“However, the potential this presents can only be realised if we equip these creative and entrepreneurial minds with the necessary skills and opportunities they need to thrive. This investment represents our commitment to doing exactly that.
“It was wonderful to see so many community members come together for the launch event. I truly hope that many of those who attended will apply for the programmes and continue to support us as we work to bolster Tower Hamlets’ vibrant economy.”
For further information regarding the business support programmes, including information on the application process and eligibility, please visit the Council’s website at https://www.towerhamlets.