Jobless incentives for small businesses

PUBLISHED: 09:30 04 February 2009 | UPDATED: 21:21 26 October 2009

SMALL and medium-sized firms will receive an incentive £2,500 for every long-term jobless person they employ and train, thanks to one of many new initiatives set up to try to get the current market flowing. They include the Intensive Support for

SMALL and medium-sized firms will receive an incentive £2,500 for every long-term jobless person they employ and train, thanks to one of many new initiatives set up to try to get the current market flowing.

They include the Intensive Support for Businesses, which is a new £250,000 scheme announced by the East of England Development Agency (EEDA).

The aim of the project is to offer fully-funded expert business advice to existing businesses and early stage start-ups that are suffering as a consequence of the economic downturn, across the region.

Another new development is business secretary Lord Mandelson's plan to underwrite loans to the tune of £20bn to encourage banks to start releasing funds to firms in need of financial support.

EEDA chairman Richard Ellis said: "There is no doubt that it's a difficult and worrying time for many businesses across our region.

"EEDA's own intensive support programme will complement the Government's actions by offering businesses that one-to-one dedicated time with specialist advisors which can be so important in finding ways to adapt, survive and improve.

"My message to businesses remains the same - seek this sort of help early to ensure that you are in the best possible shape to face these challenges head-on.

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