Regional Growth Fund Opens for Small Business Bids
Small businesses in need of development funding can pitch for support, following the launch of the first round of bidding for the Government’s Regional Growth Fund.
The £1.4 billion Regional Growth Fund, announced in the Budget, will provide funding for struggling businesses that can demonstrate that ‘their survival will create jobs and promote growth in their region’. The fund is aiming to support small firms in areas worst hit by the Government cuts.
The Department for Business, Innovation and Skills (BIS) has launched a series of road shows across the UK to advise small businesses on the bidding process and to encourage them to come forward with proposals. Future dates for road shows include the 13th December in the east of England (location to be confirmed) and the 21st December in Walsall, West Midlands.
“The Regional Growth Fund presents an opportunity for businesses to help shape their own economic future,“
said Lord Heseltine, chair of the Independent Advisory Panel, which will consider all bids for funding.
“I hope the road shows will inspire local people to think strategically about their area’s priorities and I encourage them to come forward with compelling funding proposals that promise to deliver a positive change to the local economy.”
The fund will operate over three years. The deadline for proposals for the first bidding round is 21st January 2011. Further bidding rounds will be announced next year.
For more information visit the BIS website to read about the Regional Growth Fund.