We are now seeing real progress with economic growth both locally and nationally. Unemployment is continuing to fall, and is now lower than it was in May 2010. New business starts are on the up and existing firms, particularly now in the construction and house building sectors are reporting growing interest and activity. I want to make sure that we are doing all we can locally to make the most of this and I was delighted to take part an event in New Romney on Tuesday to promote the new 'Marsh Million' fund to support smaller firms and start-up businesses.
The Government's £35million Regional Growth Fund for East Kent, is already providing assistance to businesses in the area with loans given to support job creation worth £10,000 and above. The new 'Marsh Million' fund will provide loans worth between £2,500 and £10,000 to companies in the Romney Marsh area. This £1million backed fund has been created by Kent County Council, and Magnox, the company which is leading the decommissioning of Dungeness A power station. There has also been financial support from Shepway and Ashford councils. The fund is open for bids from sole traders up to smaller companies employing fewer than 50 people. You can find out more and send an expression of interest in the fund through its website www.marshmillion.co.uk