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Bonkers Blog March 2011

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17 March (Part 1) - Thames Innovation Centre. Keep your bankrupt business afloat the Bexley council way

Have you got an innovative new idea that the council could nourish and support? Bexley council has a duty to help and support new ventures in the borough and offers generous tax payer funded terms.

Is up to £550,000 interest free for 10 years with no monthly repayment schedule an appealing prospect?

On application we can arrange for fixed assets from the council worth over £430,000 to be provided free for twenty years.

The council will arrange rent free premises for four years saving your business up to £40,000.

Think you might need to renovate? Take a £60,000 loan at a very reasonable 0.5% above Public Loan Board 10 year annuity rate.

If your cash flow falters the council will consider spending over £221,000 with your business to save it from failure.

Not sure if you have the resources to make a go of it? No problem, we at Bexley council recognise that there are always unforeseen circumstances that can impact on your business so if your management skills are inadequate or your auditors raise concerns that your business plan may not be viable we will do our level best to arrange a significant extension to any existing generous loan arrangements so that your business can continue while any other would go to the wall.

Bexley Council : Listening to you, working for you, chucking your money down the drain

Figures taken from the Innovation Centre accounts for the year ended 31st March 2010 and point three of the annual accounts from the AGM of 17th March 2009. Money that could be used to maintain care and disability services is being thrown into the TIC pit to keep it and councillors’ egos afloat.


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