Small businesses in Cockermouth to receive NWDA funding
Cockermouth will receive £100,000 to invest into temporary trading units for SMEs affected by the flooding it has been confirmed today.
The funding will be provided by the North West Development Agency after it offered the support funding to Mitchells Auction Company in Cockermouth to provide 14 new temporary units in their warehouse on Lorton Street.
The company has already provided 12 units to local businesses and the support from the NWDA will go directly to funding the fit-out and development work required to make the premises fit for up to a further 14 businesses.
The need for more temporary units and the solution came about following Ian Haythornthwaite's visit to Cumbria last Tuesday, who is director of resources for the NWDA. The visit organised by the Cumbria Chamber of Commerce & Industry, included a visit to the firm James Walker in Cockermouth, followed by a visit to Jennings Brewery and then on to a local small business. The need for the units and suitable locations was discussed and a solution identified immediately.
The funding forms part of the £1m response package of support announced by the NWDA on Monday 23 November. The NWDA has set aside up to £1m which will be invested in the areas most affected by the flood damage, and includes:
- £50,000 towards the Cumbria Community Foundation
- £100,000 towards Cockermouth temporary trading units
- Remaining funds towards Flood Recovery Grants
Steven Broomhead, chief executive of the NWDA, said: "In addition to our funding support, we are helping to develop creative solutions to support businesses in badly affected areas to get back on their feet and trading again.
"We need to address the concerns of many small businesses and make sure people realise it is business as usual in Cumbria, and the majority of Cumbrian business are open and trading as normal as we approach the busy festive period."
