The first firms to benefit from the Marsh Million funding scheme to boost business and grow jobs on Romney Marsh this week received their loans.
The ‘Marsh Million’ is a three-year, economic growth fund for Romney Marsh, backed by £500,000 from Magnox Ltd, which operates the Nuclear Decommissioning Authority-owned Dungeness A power station, £400,000 from Kent County Council, £50,000 from Ashford Borough Council and £50,000 from Shepway District Council.
Local companies, sole-traders and entrepreneurs wishing to start-up businesses are able to apply for unsecured loans for £2,500 to £10,000, aimed at promoting local business growth, supporting new enterprises and boosting access to training.
Mark Dance, Kent County Council Cabinet Member for Economic Development, said:
“The Marsh Million is an ambitious programme to create new jobs across the area by developing the private sector business base. We’ve tailor-made the amount of loan on zero-percent interest with a repayment period that is affordable because we want these businesses to get big, expand, take on more people and be a success.”
Businesses can find out about Marsh Million.
The first beneficiaries are:
Domination Paintball – Funding Approved: £9,200
Additional funding would be used to upgrade the outer safety netting, the existing netting cannot sustain the constant punishment of the weather, it would also be used to upgrade their High Pressure Air System, their current system is operational but due to the age of it would be better used as a back up system, additionally an upgrade of their paintball markers are needed.
Almon Laces – Funding Approved: £9,999
This company produces plastic ended ribbon. With additional funding they can increase production capacity and install additional machinery and associated capital equipment, due to the increasing demand for their products.
Matthews & Matthews (trading as English Handmade Knives) – Funding Approved: £8,000
Additional funding will increase business enabling the buying of goods in bulk to satisfy large order requirements and a very busy online shop.
Romney Marsh Wools – Funding Approved: £8,000
Additional funding will enable the upgrade of the company’s marketing collateral to reflect their target market more closely through revamping the website and producing a buyers catalogue.
Trimmings – Funding Approved: £4,000
The additional money will enable the expansion of this hair salon, enabling more clients and more profit.
Kirrawee Events – Funding Approved: £9,800
This land yachting company requires extra funding to fully equip the fleet to cope with a wider range of wind situations which will enable additional hours of sailing to be sold. Increased revenue means employment security and the opportunity to provide employment for new staff.