Regional Growth Fund Explained in Government Roadshow
Small businesses seeking development funding can find out how to make a successful bid for investment under the Government’s Regional Growth Fund (RGF), following the launch of a series of nationwide road shows.
The £1.4 billion Regional Growth Fund, launched last year, will provide backing for struggling businesses that can demonstrate
that their survival will create jobs and promote growth in their region.
The first round of investment provided £450 million of investment to companies and partnerships across England, creating 100,000 new jobs. The second round of funding opened for bids in April and will close on 1 July.
The road shows, run by the Department for Business, Innovation and Skills (BIS) will advise small firms on the bidding process and to encourage them to come forward with proposals.
“The road shows are an excellent opportunity for potential bidders to find out more information about ensuring bids meet the objectives and criteria.”
said Lord Heseltine, chair of the Independent Advisory Panel.
“I urge all those interested to ask questions and get as much out of these events as possible.”
A spokesman for the Federation of Small Businesses said the Regional Growth Fund wasn’t something the average small business would apply to, as the lowest amount available was £1 million.
“Where it’s likely to have an effect is where you have partnerships coming together and putting forward proposals for community finance initiatives, which can then distribute micro-loans to small businesses.”
The next road shows will take place in:
- Dudley (23 May)
- York (1 June)
- Newcastle (2 June)
- Derby (6 June) and
- Plymouth (10 June)
For more information about the road shows and the bidding process, visit the BIS website. (Round 1 bidding for the Regional Growth Fund closed on Friday 20th May)