Decision details

To seek Cabinet approval to amend the Partners for Growth scheme which provides funding assistance to assist local businesses.

171/2007 The Cabinet agreed to expand the Partners for Growth eligibility criteria, as set out in paragraphs 6.1 to 6.8 of the report and that a report be submitted to Cabinet in 6 months on the potential to expand the loan fund and Partnership in line with paragraph 6.9 of the report.

The revisions to the Medway Council Partners for Growth scheme will enable it to be more flexible to meet the needs of businesses in the future economic climate. They will also enable the scheme to more effectively meet the needs of the Council's Regeneration, Economic Development and Community plans.Removing a number of business exclusions will allow the scheme to be more inclusive of the diverse range of businesses in Medway. Furthermore, more emphasis will be placed on workforce development to improve the skills and qualifications of the Medway workforce.