More than 400 grants, worth up to £5000 each, are being offered to businesses by Southwark Council.

The grants, which will help small businesses in 22 districts including Camberwell to pilot new ideas, are part of a £2 million fund given to the council by the government.

Southwark Council said the applications with the best chance of success would be those that had creative business ideas to generate jobs and help tackle social issues such as crime and obesity.

Small businesses and charities with up to 10 employees can apply for funding up to November 25, 2019. Applicants should also not have been in business for more than five years.

“The main objectives of the fund will be to increase the creation and survival of social and commercial enterprises, widen the diversity of residents who own and lead enterprises,” said Councillor Stephanie Cryan, Cabinet Member for Jobs, Business and Innovation. 

The grants will help businesses with “tailored business support, access to business networks and affordable workspaces”. Loan packages will also be available for enterprises that are ready for more significant financial investment.

“This Fund has resulted from a collaboration between the council, local businesses, stakeholders and the community,” said Ashley Richardson, Lead for Enterprise and Innovation for Peabody, one of the organisations involved with facilitating the grants.

“I am confident that the benefits will truly impact local economy but most importantly local people”.

Southwark is said to have the fifth-largest number of big businesses located in London and the council said more opportunities to apply for funding will come in 2020.

Southwark council said more opportunities to apply for funding would be available in 2020-2021.