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LEP targets small business with £32m funding pot

posted 23 Sep 2013, 06:29 by RiDO Rotherham   [ updated 23 Sep 2013, 06:31 ]
The Local Enterprise Partnership’s (LEP) business funding programme launches into a new phase this Autumn - enabling more small businesses to access money to grow.

The Sheffield City Region LEP has decided to earmark £2.5m of its fund for smaller grants starting from £25,000. A further £7.5m is being made available for grants of over £100,000.

The LEP’s scheme has so far chosen over 50 projects to receive grants of £100,000 upwards. The LEP has allocated over £20m to these projects, which are forecast to create over 1,500 new private sector jobs by March 2016.

The LEP’s “Unlocking Business Investment” programme makes a total of £32 million of Government Regional Growth Fund (RGF) money available to businesses that want to grow and create high value jobs in the Sheffield City Region.

LEP Board Member, and LEP RGF Programme Steering Group Member, David Grey, said:

“Businesses have until October 31st to apply to the LEP for grants. 

“The LEP is calling on ambitious businesses in the City Region to start pulling together their business ideas, talk to their Local Authority Economic Development officers and visit our website find out more about the application process.

“The Sheffield City Region is home to tens-of-thousands of small businesses, led by entrepreneurs with ambitious plans to grow. 

The LEP is using £32m of Government RGF money to create a funding pot that can give the Sheffield City Region’s best businesses the funds they need to grow and create jobs. I’m looking forward to seeing plans for some exciting new projects.”

Businesses looking to access the funding are invited to find out more on the LEP’s website.