Shropshire businesses benefit from £340,000 worth of funding
Shropshire businesses are set to benefit significantly from the European Regional Development Fund (ERDF), following successful applications to the Business Growth Programme.
Since the launch of the programme, 17 businesses have secured almost £340,000 of additional funding, bringing the total investment into these businesses to just under £1million. In total, 48 new jobs will be created.
The Business Growth Programme (BGP) – managed by Birmingham City Council’s Business Development & Innovation Team and part-funded by the European Regional Development Fund – offers a comprehensive package of business support to B2B Small to Medium sized Enterprises (SMEs) based in the Greater Birmingham and Solihull, Stoke-on-Trent and Staffordshire, and The Marches Local Enterprise Partnership (LEP) areas.
Business Growth Programme
Highley-based Genvolt’s project has benefitted their business through facilitating both business development and innovation.
Stuart Morgan of Genvolt
Stuart Morgan, Managing Director of Genvolt, commented:-
“Overall, the investment has enabled us to sustain our intended growth and allowed us further business development and sales generation.”
Genvolt
Wendy Cox, Office Manager for Genvolt, commented that the application process for the Business Growth Fund programme was very straightforward and well supported by the grant scheme team at both Birmingham Council and Shropshire Council:
“It was refreshing to have such a simple process and we were able to complete the application paperwork in just a short space of time.”
Gemma Davies, Shropshire Council’s head of economic growth, said the council are pleased at the success of the programme in the county:
“Businesses in Shropshire have benefitted greatly from this programme and we are delighted that so many have capitalised on the opportunity.”
Funding is subject to availability and eligibility criteria, details of which can be found by visiting http://www.marchesgrowthhub.co.uk/finance-and-funding. Applications must be submitted within the Funding Rounds specified on the webpage.
Further information
Business Growth Programme:
The Business Growth Programme is receiving up to £16.3m of funding from the England European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for ERDF. Established by the European Union, ERDF funds help local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit www.gov.uk/european-growth-funding.
