New jobs and stronger businesses are to be created with the launch of new grant funding delivered by the York, North Yorkshire and East Riding Local Enterprise Partnership (LEP) and targeted at helping Yorkshire micro, small and medium enterprises.
The Business Grant Programme is funded by the Regional Growth Fund and contributes up to 20 per cent of capital costs for businesses looking to expand and take on new staff. Unlike similar schemes being rolled out across the country and which only fund projects with a total cost of £50,000 or more, the LEP has successfully managed to lower their project threshold to £25,000, for which it will provide a maximum grant of £5,000.
Barry Dodd CBE, Chairman of the York, North Yorkshire and East Riding Local Enterprise Partnership, said: This is a fantastic opportunity to support our micro, small and medium enterprise businesses by delivering a grant that fits in line with their needs. Yorkshire has a large number of small businesses. This is a real strength. Their survival rates are among the best in the country. After all their hard work, we need to deliver to them support that is compatible with the size, growth and ambitions of their businesses.
A board has already been set up to deal with the applications and it expects to be awarding its first round of funding to successful businesses in March.
Businesses wishing to apply for grant funding through the scheme should visit www.businessinspiredgrowth.com/bgp to find out more.