This report outlines a proposal to develop a grant scheme specifically to support the further development of business networks across the District.  It requests approval to allocation £40,000 from the Economic Development Fund to support the delivery of this initiative, which supports the Hambleton Economic Strategy (2014) themes of Business Support and Vibrant Market Towns.

In accepting the recommendations, Cabinet will approve the allocation of £40,000 from the Economic Development Fund to establish a delegated grant scheme to support business networks; that the delegated grant scheme is managed by the Business & Economy Team who will develop detailed guidance and eligibility criteria and that subject to the details set out in paragraphs 1.4 and 1.5 of the report the grant criteria be agreed in consultation with the Portfolio Holder.

The subject of the decision:

This report outlined a proposal to develop a grant scheme specifically to support the further development of business networks across the District.  The report also sought approval to allocate £40,000 from the Economic Development Fund to support the delivery of this initiative which supported the Hambleton Economic Strategy (2014) themes of Business Support and Vibrant Market Towns.

Alternative options considered:

None.

The reason for the decision:

Cabinet was satisfied that this project supported the Council’s priority to support local economic growth.  Further support for business networks was a project which had been included in the Council’s Economic Strategy, Hambleton ‘A Place to Grow’ within the Business Support Priority theme.

THE DECISION:

That:-

(1)     the allocation of £40,000 from the Economic Development Fund to establish a delegated grant scheme to support business networks be approved;

(2)     the delegated grant scheme be managed by the Business and Economy Team who will develop detailed guidance and eligibility criteria; and

(3)     subject to the details set out in paragraph 1.4 and 1.5 of the report, the grant criteria be agreed in consultation with the Portfolio Holder.