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Thursday, May 29, 2014

We can help you apply for grants to expand your business and take on more staff

Time is running out for business to apply for grants to help them grow and create jobs.

Financial support is available for businesses that are based in West Lancashire or are looking to move into the area.

West Lancashire Borough Council can help companies find out more and submit their applications.  But they must contact us now as the project they want to use the money for must be completed by March 2015. Funding cannot be offered for retrospective projects.

For more information call the Council’s Economic Regeneration team on 01695 712692, email info.edu@westlancs.gov.uk or visit business.

Bob Livermore, Borough Council Assistant Director for Regeneration, said: “We want to help businesses grow and our team can assist with applications for these grants. But firms must be ready to hit the ground running with their projects in order to qualify for the funding. Please get in contact with us as soon as you can to check your eligibility and start your application.”

Accelerating Business Growth (ABG)
This is a competitive grant scheme to help fund business growth projects across Lancashire which are committed to job creation, additional investment from other sources, and have major impact on the Lancashire economy. 

The grant scheme is available for manufacturing companies which trade business to business and are either based in Lancashire or planning to move into the county. It is particularly aimed at companies that employ less than 250 people that are looking to expand and become larger employers. 

Companies must have received less than 200,000 Euros in public support over the past three years, and the amount within the ABG application must not bring the figure over that amount. Grant money can contribute towards capital investment projects and can be used for machinery, property improvements, building expansion or infrastructure improvements. 

Successful applicants can receive grants from £20,000 to £150,000. The amount will typically be 20% of the total project cost. 

One company the council has helped to get an ABG grant is Riverside Truck Rentals, who applied for the money to help with their new premises in Pimbo, Skelmersdale. 

Sid Sadique, from the firm, said: “We were really grateful to the Council staff for helping us apply for this grant. This has made a big difference to our business.” 

Fuse Fund
This is a £4m enterprise programme designed to support new businesses trading less than 3 years which are committed to job creation and additional investment from other sources. It is a competitive capital grant scheme that will help new businesses to finance growth projects creating new jobs and investment across Lancashire.

To be eligible companies must:

  • be classed as an SME and trading less than 36 months
  • be based in Lancashire or moving into the area
  • trade business to business
  • commit to growth and job creation within 12 months of project completion
  • have received less than 200,000 Euros in public support over the past three years, and the amount within the FUSE application must not bring the figure over that amount. 

Grant money can contribute towards capital investment projects and can be used for machinery, property improvements, building expansion or infrastructure improvements. Successful applicants can receive grants from £5,000 to £50,000. The amount will typically be 25% of the total project cost.

Free financial advice is also available for businesses in West Lancashire which are looking to grow and trade business to business. There is also support (including financial) for businesses which are looking to take on apprentices. For more details please contact the Council’s Regeneration team on 01695 712692, email info.edu@westlancs.gov.uk or visit business.

 

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