A new fund has been set up to help kick-start and strengthen businesses in the Bradford district.

A Regeneration Partnership Fund has been developed by Bradford Council to offer short-term grants of up to £7,500 to new projects.

The scheme will ask firms to repay their grants once they have enough cash in the kitty to do so, allowing other new firms to receive financial help.

The grants will be awarded to projects and businesses which would not get off the ground because of a lack of funding.

They will also be available to existing businesses which are involved in the long-term regeneration of the district.

The types of projects the fund could support include:

the cost of setting up an office - such as equipment and building work;

the commissioning of feasibility studies or research projects;

the capital costs of physically improving or developing premises;

providing matching funding for bids to the lottery and Europe.

Councillor Dave Green, chairman of Bradford Council's regeneration committee, said: "This is just one of a number of initiatives which the Council has introduced to help boost business in the district.

"It will provide real support for local projects and partnerships which have the potential to contribute to the long-term regeneration of Bradford but we are facing financial difficulties at the moment.

"We won't be using it as a means of subsidising profit-making activities that's why we have laid down very clear and strict guidelines on the types of projects which are likely to qualify for a grant.

"Once an organisation is up and running and in profit then we would expect them to repay the grant so the money can be used to help others."

The Council's regeneration committee will be asked next Wednesday to agree criteria for the fund.

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