To coincide with Circular Economy Week ReLondon has announced new business support, including grants and training, for small businesses in London wanting to “explore and scale” circular business models.
ReLondon says the support is available to both circular and linear businesses, with a focus on “diverse founders”, and utilises UK government funding of £1.4m from the UK Shared Prosperity Fund (UKSPF).
The first round of support is aimed at small businesses on the high street who want to test circular business models for the first time, in particular businesses including food and drink establishments, grocers and dry goods retailers, as well as hairdressers, and dry cleaners.
This will be followed by a round of grant funding in February 2024. ReLondon says grants of £5k-£10 thousand will be available for around 20 high street businesses to implement their circular business models. The second round of business support will be grant funding to businesses that are helping London transition to a circular food system, ReLondon says.
We’re delighted to announce this new business support package during Circular Economy Week.
Through this support, ReLondon says it aims to create a “blueprint” for circular high streets, which can be replicated across London.
Grants of £5k-£15k can be applied for from early October until 13 November. ReLondon is encouraging London-based circular businesses to apply if they have an existing, operational solution that they would like to scale aimed at reducing food waste; creating value from food waste or by-products; or providing access to locally grown, sustainable food.
Wayne Hubbard, CEO of ReLondon, commented: “We’re delighted to announce this new business support package during Circular Economy Week, as it demonstrates yet again that tackling the climate crisis is a shared responsibility between national and local governments, citizens and business.
“This sixth annual Circular Economy Week is a powerful showcase of how the circular economy can help navigate the current cost of living crisis, potentially safeguard jobs and communities and deliver against carbon reduction targets by saving materials and energy.” Making the case for reuse: how it can help achieve net zero by 2050.”
Circular Economy Week 2023 is hosted by ReLondon in partnership with Visa, and supported by the Mayor of London. This year features over 60 events including in-person tours of remanufacturing facilities, a series of five global city spotlights, workshops on the reuse of construction materials and a session on measuring organisational impact
