More money is now available through grants schemes offered by New Anglia Local Enterprise Partnership, which supports businesses in Norfolk and Suffolk.
Small businesses can now apply for larger amounts to help boost productivity, cut costs and launch new products. The LEP has raised the ceiling for funding through its Small Grant Scheme from £10,000 to £25,000, replacing the Micro Grant Scheme. The £1.6 million funding comes from the European Regional Development Fund.
In addition businesses no longer have to create employment for grants awarded under £25,000 giving them more control. The Small Grant Scheme is being extended to include applications from the tourism and accommodation sector.
The LEP’s flagship grant scheme, the Growing Business Fund, has changed its range from £25,000 to £500,000 for businesses which are creating jobs and expanding.
Jason Middleton, programmes manager for the LEP, said that the grants, designed to help businesses become more profitable, will make extra money available to scale up businesses and the application process has been redesigned to be faster.
The LEP’s Growth Hub advisers can be contacted on 0300 333 6536 or via email at email@example.com