“I want to give those with great ideas the chance to get started and encourage people to ‘think local’.” Cllr David Meller, Cabinet Member for Economy and Regeneration.

 

Labour-led Stockport Council aims to provide a boost for Stockport’s district centres by creating a £300,000 interest free loan scheme.

 The scheme is designed to encourage people and businesses to ‘think local’ and occupy vacant premises by contributing towards the financial costs of property improvements.

 It’s hoped the fund will provide opportunities for those with fresh and exciting ideas to get started, while giving local people the chance to have a stake in the growing Stockport economy.  

 

The fund will allow start-up companies or help businesses expand or relocate by offering an interest free loan of up to a maximum of £10,000.

The loan can be used to buy or improve signage, access, interior refurbishment, decorations, furniture or security systems in a building in any of Stockport’s eight district centres. These are Bramhall, Cheadle Village, Cheadle Hulme, Edgeley, Hazel Grove, Marple, Reddish – Houldsworth Square and Romiley.

Importantly, payday loan companies, vape shops, betting and gambling shops and pawnbrokers are not eligible for this scheme.

The proposal lies at the heart of Stockport Labour’s attempt to make our town an attractive place for business, while focusing on local communities and making Stockport an exciting and thriving borough for everyone – regardless of where you live.

Cllr David Meller, the Cabinet Member for Economy and Regeneration, said:

“The growing recognition of Stockport town centre is there to see. We have the success of Redrock and the Produce Hall and footfall is increasing in Merseyway and the Marketplace.

“We also have Stockport Interchange on its way and the Mayoral Development Corporation will provide the affordable homes people need. The town centre’s future is incredibly bright.

“All this means we can now begin to broaden out into our district centres, which immediately serve our communities. This has been one of my priorities since taking the portfolio last May.

“I want to give those with great ideas the chance to get started, while encouraging people to ‘think local’.

“The aim of the fund is to do that and give local people the chance to have a real stake in Stockport’s economy, which is one of the fastest growing in the North West thanks to some of the work we’ve done.

“Council budgets have been badly affected by austerity over the last ten years. Yet it’s important that, where possible, we use the council’s resources to support our communities and ensure local people benefit from the wealth created in Stockport.

“By ‘thinking local’, money spent in Stockport stays in Stockport. This benefits everyone: it helps fund our essential services like adult social care, while creating more vibrant and prosperous local communities.

“All this thinking is what’s behind the loan fund – and I can’t wait for people to start applying.”

The loan fund links into work undertaken by the Institute of Place Management (IPM), developed by Manchester Metropolitan University and the Association of Town Centre Management.

IPM have looked at each of Stockport’s eight district centres and proposed a range of recommendations for each one. Successful applicants will be expected to help deliver on those recommendations.

The fund is expected to be open for applications by April.

ENDS