Earlier today in Parliament, I used a question to the Business Secretary, Bromsgrove MP Sajid Javid to promote the Worcestershire Growth Fund.
I asked,
“The £2million Worcestershire growth fund will provide grants of up to £100,000 to businesses that are looking to expand and create jobs in Worcestershire. Will the Secretary of State join me in encouraging as many businesses as possible across Worcestershire to apply for the first round before the deadline this Friday?”
Mr Javid replied,
“In the short time that my hon. Friend has been a Member of Parliament, he has done a lot to champion small businesses in Worcestershire. I have seen that at first hand. The Worcestershire growth fund represents an excellent funding opportunity and I certainly join him in encouraging companies in his constituency and mine to apply.”
The new fund, administered by the Worcestershire Local Enterprise Partnership, is a capital grant scheme to support the growth of Worcestershire businesses. The fund is particularly focused on supporting growth in the advanced manufacturing, agri-tech, cyber security and defence sectors, but applications will be accepted from all sectors.
Grants of up to £100,000 are available although higher levels of support may be considered in exceptional circumstances and successful applications must:
• Result in increased business productivity;
• Generate new, sustainable jobs based in Worcestershire;
• Provide match funding of at least 50%; and
• Comply with State Aid regulations.
This is a two stage process with Expressions of interest for the first round open until 18 December 2015 and successful applicants will be invited to submit a full business case. The fund will run until March 2018, subject to availability. Potential applicants are strongly encouraged to speak to Stephen Butterworth, Project Manager for the Worcestershire Growth Fund on 01905 766096 or [email protected] prior to developing an application. Alternatively, please contact Worcestershire Business Central on 01905 677888 or [email protected].