The London Development Agency (LDA) is investing almost £3m into the recycling sector in London, through its ‘Enhance’ business support programme.
The funding will be used to create around 20 new businesses or social enterprises and about 200 jobs over the next 18 months.
The LDA believes that the Enhance scheme has already proven itself through the creation of 170 ‘green’ enterprises since 2005.
Helen Keenan, director of product development at the LDA, said: “The London Development Agency is investing almost £3m in London’s recycling industry.
“We recognise the importance of providing support to the sector to ensure that in the future London is able to manage its own waste.
“In its first 18 months, Enhance helped grow over 170 ‘green’ enterprises.
“We’re hoping the service will create another 20 new businesses and 200 jobs in London over the next 18 months.”
Over 17m tonnes of waste are produced in London each year and the LDA says there is enormous potential for the development of businesses that offer services that can address this issue.
The LDA is also looking to improve the skills of about 400 people within the recycling sector and wants to engage with more enterprises that are led by minority groups.
© Crimson Business Ltd. 2007
