TIE hands out £350,000 to keep city Open for Business

Published on Saturday 27 September 2008 10:57

A CAMPAIGN to promote Edinburgh during the disruption caused by the trams has been given a major funding boost after having its budget doubled.

The "Open for Business" initiative has been handed 350,000 after traders failed to take up all of the 2 million compensation payments available from tram firm TIE.

A total of 427 business claimed the business support payments of up to 4000 each, with nearly three quarters of the money going to traders on Leith Walk.

The extra cash given to Open For Business will be spent on improved marketing of the city centre to shoppers as well as additional direct support for areas hit badly by the tram project, such as Leith and the West End.

The current Open for Business budget for the duration of the tram project is 300,000.

Business groups today welcomed the extra cash for promoting the city over the coming years.

Graham Birse, deputy chief executive of the Edinburgh Chamber of Commerce and, chairman of the Open For Business group, said: "I was surprised that all the money was not claimed, but this is a boost for the whole city centre. There are a variety of ideas of how we can improve on our promotion and build on the success of events like a Month of Sundays.

"We would like to see more support in the areas which have had particular difficulties, such as Leith Walk and the West End."

The Open For Business campaign has had a number of advertising campaigns, as well initiatives such as a Month of Sundays – which offered promotions and discounts in shops along the route of the tram.

Nigel Duncan, vice-chairman of the Edinburgh branch of the Federation of Small Businesses, said: "We are greatly encouraged that there is a focus and a strategy for spending the remaining money. The important thing from an FSB point of view is that the money we are spending leaves a lasting legacy in the areas which are struggling."

A total of 704 application packs for the TIE business support scheme were delivered to traders over the last 18 months.

Leith Walk traders claimed 1.1m of the compensation pot, West End businesses claimed 384,000 and those in the city centre took a total of 47,000.

Willie Gallagher, executive chairman of TIE, said: "The objectives of TIE and its partners have been clear from the outset – to assist as many businesses as possible. The small business scheme has delivered over one million pounds to those who required support and I'm delighted that we have consensus with our stakeholders on how to distribute the remaining funds."