Supporting Businesses in Essex

Small, medium sized enterprises are the bedrock of the UK economy and play a critical role in supporting local jobs and communities. Essex County Council (ECC) is committed to supporting the local economy and understands the critical role a vibrant economy has in sustaining society and promoting well-being. In Essex there are over 50,000 small and medium sized businesses, employing over 400,000 people across the county. A total of 90% of the SMEs are situated within 5 miles of their owners' residence; a vast majority are family businesses and up to 30 per cent of them are located in rural areas of Essex.

In the light of the threat faced by many businesses as a result of the recession, ECC developed the Essex Economic Recovery Action Plan in conjunction with public sector partners across Essex. One of the most pioneering recommendations from this action plan was to create Banking on Essex, to ensure local businesses could still access credit and business support.

Our unique lending model is delivered in association with Santander Corporate Banking, part of the Santander Group, one of the world’s safest banks. Through Banking on Essex each application is judged on its individual merit.

Peter Martin, Leader of Essex County Council said:

"We have over 50,000 SMEs in Essex of which over half have been trading in the county for 10 years.  We are proud to be the first Local Authority to offer business banking services, demonstrating the Council’s ability to respond to the needs of local people.  Banking on Essex provides a credible alternative to the usual financiers, ensuring easier access to working capital which combined with essential business support services will help local businesses to grow."

Banking on Essex has three clear objectives:

• Keeping viable businesses trading
• Creating a more traditional/personal form of banking
• Better aligning financial services and business support

We aim to provide better access to working capital, increase business confidence within the County and provide essential business support to help you grow your business.
Banking on Essex was shortlisted for the Guardian Public Services Awards 2009, which is a fantastic achievement considering over 800 entries were submitted.

If you would like to find out how Banking on Essex can help you to develop your business, simply call us on 0800 056 1998.