GBSLEP in call for ambitious businesses with growth plans to step forward

Posted by lepadmin - January 24, 2013 - Business, Newsroom, Regional Growth Fund - No Comments

Businesses with growth plans that need finance are being urged to come forward and tap into support on offer through the Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP).

With a number of funds and schemes now online, companies in the LEP area which have expansion plans needing finance have the perfect opportunity to come forward.

Paul Heaven, GBSLEP Board Director.

Paul Heaven, GBSLEP Board Director.

Among the schemes available is the Regional Growth Fund, which was recently extended to a fourth round worth £350 million. With a minimum allocation of £1 million and the requirement to at least match the Government contribution, this is targeted at larger companies.

An event is being held at the Birmingham office of the Department for Business, Innovation & Skills on February 6 2013 with the aim of giving companies the chance to find out if suitable support is available through RGF.

However, the GBSLEP and its partners can combine bids for smaller and medium sized companies in the region so even this scheme could be right for your business.

A range of other schemes – including the Growing Places fund for development projects, the Advanced Manufacturing Supply Chain Initiative and Birmingham City Council Loan Fund – are also available, in addition to the Business Development Programme which offers grants of between £10,000 and £15,000 to growing businesses in the LEP.

Paul Heaven, GBSLEP Board Director with responsibility for access to finance, said: “The LEP has been successful in securing funding from Government for a number of specific schemes which are now live.

“We know all too well that many businesses in the LEP have growth plans which have been put on the shelf because of difficulties getting finance.

“It may well be that we have a programme that is right for them, or we may be able to put them together with other like-minded businesses to form consortia that can bid for funding.

“There are a number of loans, grants and even equity finance available for businesses that have specific growth plans that create jobs.

“Even if you are not able to make it on that day, it’s important that companies get in touch so that we can find ways to make finance available.”

Businesses are also being encouraged to use the recently-launched Central Business Portal – an online resource showcasing difference forms of support available within the LEP.

Paul Heaven continued: “While the LEP has finance available, there are a host of other providers and organisations who are providing similar schemes and the Portal is an excellent way to find out what is available.

“At a time when companies might well be looking to press on with their growth plans, there has never been a better time to refer to the Portal or speak to the GBSLEP about what we can do.”

[dropshadowbox align=”left” effect=”lifted-both” width=”100%” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” rounded_corners=”false” ]To discuss funding options for your business, contact Debbie Harris, Principal Economic Development officer, via[/dropshadowbox]