A POT of money has been made available to people who want to start a business in Redcar as well as to existing businesses.
The Town Centre Grant Scheme is a fund managed by the Redcar Town Deal and aims to encourage entrepreneurial activity and growth in Redcar.
In total, the pot is worth £250,000 made available to applicants in the following categories:
- Better Businesses – aimed at existing businesses with premises in the town centre – up to £5,000 available to support alterations and improvements to existing commercial properties;
- Above Shops – aimed at existing businesses with premises in the town centre – up to £10,000 available to bring the upper floors back into use for commercial or residential purposes;
- Bring Your Business To – aimed at new businesses, as well as existing businesses from out of area looking to expand and/or relocate within – up to £15,000 available to support setup/fit-out of new premises;
- Welcome To – aimed at existing businesses, but also available for new businesses and those from out of area look to expand and/or relocate within – up to £30,000 available to support setup/fit-out of new bedspaces in support of the visitor/tourist economy.
The grants are available on a match funded basis and applicants are required to fund 100% of the works up front before being reimbursed on completion.
Categories 1-3 are subject to a geographic boundary linked to a defined ‘town centre’ area. Category 4 is subject to a wider geographic boundary linked to the Town Deal area. One grant is available per property.
Applications must also adhere to the following criteria:
- Applicants must be able to demonstrate the financial and commercial viability of the project and the need for grant support;
- The grant panel reserves the right to refuse applications from businesses it does not consider having potential to contribute to Redcar and Cleveland’s economy through business activity;
- Applicants will also be required to disclose any knowledge of business rates and/or council tax arrears connected to any property within Redcar and Cleveland in which they hold an interest.
Applications are open until March 2025, and the final grant panel will convene in December 2024. The cut off for grant awards is March 17, 2025.
Catherine Clennett, chair of the Redcar Town Deal board, said: “The Town Centre Grant Scheme is a great opportunity to become part of the regeneration plans of the Redcar Town Deal. The aim of the programme is to help boost the visitor economy and really lift Redcar as a destination. I would encourage start-ups and businesses from out of area to look at the details of the scheme to see whether they might be able to benefit from the support available to move into the town centre.”
Cllr Alec Brown, Leader of Redcar & Cleveland Borough Council, said: “It’s fantastic that these business grants have become available to existing Redcar businesses as well as to those looking to expand or start their business in the town centre. It is jobs and prosperity which will transform the prospects of local people. More money in people’s pockets means more money for them to spend in the local area, it means business will prosper and people will come to live and spend time here. As a Council, we are working with the Redcar Town Deal board to help achieve this and to do what we can to help make the borough a better place.”
Further details on the Redcar Town Deal projects are available by calling into the Rediscover Redcar shop at 11 West Terrace in Redcar town centre or at Redcar Town Deal | YourVoiceMatters (engagementhq.com)