Shropshire’s £6.4m economy boost since 2013
News from our partners Impetus
New figures for Shropshire show that, in the last two and a half years since mid-2013, £6.4m has been invested in the local economy.
It has all been driven by the Shropshire Business Loan Fund, which is managed by Impetus on behalf of Shropshire Council.
This has included £1.2m in expansion business loans allocated in the county, with 50 businesses supported, nine of which have been new businesses created.
As a result almost 120 jobs have been created or saved.
Based in Pershore in Worcestershire, Impetus is part of the ‘responsible finance’ sector. In the last 10 years it has supported over 500 businesses in the West Midlands and in Gloucestershire.
Impetus team
Fund manager Steve Williams explained:-
“Our aim is to build a sustainable local economy, and we do this by giving businesses the financial backing they need to take things to the next level – especially when the banks say no.
“We work closely with a number of delivery partners, and we are very pleased in Shropshire to oversee the Business Loan Fund on behalf of the council.”
Steve Charmley, Shropshire Council’s Cabinet member for business and culture, said:
“Through working with local businesses we know that many face difficulties when trying to secure funding. This has made it easier for these businesses to access finance; enabling the county’s economy to grow and prosper.
“It’s been a hugely successful and value for money project for both the council and council tax payers.
“A real cost to the council of just £63,000 has provided a boost to the local economy of more than £6m, which is great news all round.”
Anyone who’d like to talk about a local business development loan is invited to call Steve Williams on 01386 556000 or email info@impetus-marches.co.uk. Impetus website is: www.impetus-marches.co.uk.