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THE LIFELINE FUND - BASINGSTOKE�S NEW INITIATIVE TO HELP SMALL BUSINESSES SURVIVE THE RECESSION

An entirely new initiative to help small businesses through the economic downturn is being launched by Basingstoke and Deane Borough Council, in partnership with 3EN Ventures at the�Be Inspired conference in Basingstoke on Thursday 1 October.

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The new 3EN Lifeline Fund will offer relatively small amounts of money to businesses where funding is not available from other sources, and loans will be offered on a matched pound-for-pound basis.

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The fund will be open to all businesses with short-term acute funding needs and will offer both affordable rates of interest and realistic repayment periods.

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Those businesses successful in achieving suppor through the scheme will potentially be able receive the money they require within a target of 28 days, in turn supporting greater local job security and�creation.

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Businesses requiring financial support will be able to log onto the dedicated website, available from 1 October, and fill in a simple and understandable online application form.

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Due to the nature of the fund, there will be a requirement to pay a �25 one-off non-refundable�fee to cover costs of administering�fund applications.

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Leader of Basingstoke and Deane Borough Council Cllr Andrew Finney said: �This is the first fund of its type in the borough. Setting up the 3EN Lifeline Fund is just one of the ways the council is proving its commitment to supporting businesses working across the borough.

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�These are difficult times for many businesses and we don�t want to see good businesses failing due to having difficulties with accesses relatively small amounts of money as that is not good for our long-term prosperity.

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�I hope that we�re able to help lots of small businesses to continue to survive and grow to help Basingstoke and Deane come out of the recession even stronger than before.�

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3en Fund Manager Nick Sharpe added �we are open for business and keen to meet sustainable businesses that are struggling with working capital; where we believe there is a real case for support � and matched funding can be achieved from third parties � we�d like to meet�

New �Innovation� Centre To Help Local Businesses Grow

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Plans for a new business start-up centre in Basingstoke to help fledging hi-tech companies and small innovative businesses grow in the borough were announced today (Thursday 29 October).

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The new�centre, based at Basing View, will offer flexible office accommodation and business support services to start-up high-tech companies or individuals with a new business idea� - and help get their companies off the ground.

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Basingstoke and Deane Borough Council has been working with the South East England Development Agency (SEEDA) to establish the centre after research showed there was demand for business start-up facilities, which have been shown to have a significant impact on company survival rates.

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The centre aims to provide small, serviced office units on competitive, low-risk rental terms with an �easy-in, easy-out� agreement, secretarial and accountancy support as well as meeting spaces where businesses can share knowledge and ideas.

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It is planned that SEEDA�s business innovation and growth experts will also be based at the centre along with the council�s two 3en�funds.�

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Together they will be able to offer access to funding opportunities as well as host networking events and help facilitate relationships between blue chip companies��and the incubation centre�s entrepreneurs.

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Leader of Basingstoke and Deane Borough Council Cllr Andrew Finney said: �We want to let businesses know that this council is committed to investing in the long term economic growth of the borough by encouraging and supporting enterprise, innovation, research and development.

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�There�s never a good time to start up a business let alone in a recession but this new centre will provide as much support and assistance as it can to ensure our borough entrepreneurs and business men and�women of the future get the best possible start they can.�

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The plans were given the green light when Basingstoke and Deane Borough Council�s Cabinet agreed a one-off capital grant of �100,000 this week to help set up the centre.� The scheme has also received �15,000 funding from Hampshire County Council and �85,000 from the Local Authorities Business Growth Incentive scheme.

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The Greenham Common Trust, which invests in schemes to benefit the community, will set up and run the new incubation centre.� It is planning to buy�Norden House in Basing View as the location for the new centre.

New Website Launch

Today sees the launch of a new website for 3EN Ventures as our investments grow and we look for new and exciting technology companies looking for investment.

Please visit back regularly to see what's going on at 3EN Ventures, including exciting events in Basingstoke, including Futurology 2013.