PUBLICATION: Babergh Matters! Summer 2009
Every Long March Starts with a Small Step
Even
in the midst of an economic recession, it is good to know that your council can potentially help your business out. Babergh
District Council is the only local authority in Suffolk offering interest-free loans both to start-ups and those small firms
- with five staff or less - looking to grow to the next stage of their potential.
According to Babergh’s Economic Development Officer, Sue Dawes,
the recent downturn has actually led to an increase in applications for such loans. “Babergh is fortunate in having
a very diversified economic base. About three out of every four firms in the district employ only a handful of people and
we are keen to further help that part of our economy,” she said.
“A number of people who have been made redundant have seized the
opportunity to set up on their own. The maximum loan we can give for startups is £2,500 (up to £5000 for existing firms looking
to expand), but that can make a real difference to the viability of their business in its initial stages.
“Applicants must be able to show us that have a good business
plan and a clear idea how they would use the loan, such as the purchasing of new equipment to improve competitiveness or linked
to positive job creation. “The loan needs to be repaid within three years - although up to 12 months in that period
can be taken as a loan ‘holiday’.”
One Babergh resident who has taken advantage of this scheme is Gemma Haining
of GRH Catering Limited (www.gemmahaining.com).
Originally from Suffolk, Gemma studied at the Leith School of Food, in London,
after which she built a successful business as a professional caterer working for the likes of film and TV scriptwriter Richard
Curtis and journalist Emma Freud.
Returning earlier than planned because of the death of her father, Gemma
has established her business in Boxford. “I wanted my business to grow so that I could cater for functions of 150
- 200 people, as well as being a personal chef for smaller events.
“The business growth loan from Babergh has helped me to build
a professional kitchen in some old stables and to partially fit it with
equipment. I couldn't expand my business if I was
operating out of a small kitchen.”
