New business support provision for small businesses in Southend-On-Sea

October 18, 2024

Southend-On-Sea City Council, using UK Shared Prosperity Funding has launched a fully funded specialist business support programme to protect and grow small businesses in the area.

Delivered by Let’s Do Business Group’s Backing Essex Business Support Service, this finance advice for business project has been created to provide micro and small businesses with support in planning for and accessing finance to help sustain and develop.

With businesses across the UK facing significant economic challenges there is a growing need for specialist advice to support businesses. Many micro and small businesses are already struggling with debt and are finding it challenging to access mainstream finance through traditional lenders, putting them in a difficult position to secure their future, and grow their business. This new service, will provide help to both those who are in difficulty, and those who need guidance on what to do next to achieve growth.

Through this programme, business can access 1:2:1 consultancy sessions with experienced business advisors, for up to 12 hours free support to develop action plans, create financial forecasts, and take steps for moving forward. Business advisors will also be able to support business owners with access to finance, utilising schemes such as Start Up Loans and the Recovery Loan Scheme from the British Business Bank

Throughout the programme, several workshops and training sessions will also be available, helping business owners to improve their financial literacy, create a solid business plan and financial forecast to maintain a robust and sustainable business.

This project is fully funded by the UK Government through the UK Shared Prosperity Fund, which makes it available to businesses at no charge.

The UK Shared Prosperity Fund is a central pillar of the UK government's Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills.