A successful bid for just under £1 million of Government cash means businesses across Burnley, Pendle and Rossendale will be able to access extra support to expand and develop new technologies
Burnley Council together with Pendle and Rossendale councils and Growth Lancashire are to receive £994,083 from the UK Community Renewal Fund to deliver a business grants programme across the three boroughs.
It is hoped the programme will create 100 new jobs and safeguard a further 50.
The funding will be available until June 2022.
The focus of the grant fund will be to provide direct access to finance which will be used to support innovation, business growth and job creation whilst safeguarding existing jobs, with special focus on high value jobs within engineering and manufacturing.
It will dovetail with existing activity delivered by the Growth Hub, and utilises best practice from previous funds, whilst being flexible to meet local needs.
Burnley Council leader Councillor Afrasiab Anwar said: “I’m very pleased that by working together in partnership we’ve been able to successfully apply for this Government funding which will be used to boost local businesses. It will provide welcome support for firms of all sizes and help enable them to expand and develop.”
Leader of Pendle Council, Councillor Nadeem Ahmed said: “This is great news for our area, which has been really hard hit by the pandemic.
“We have many enterprising companies in Pendle which could really benefit from this new funding and we’ll be urging businesses large and small to apply.It will help to protect and create new jobs and boost businesses keen to expand and take advantage of new innovations.”
Alyson Barnes, leader of Rossendale Council, said: “We are pleased that working with Burnley and Pendle councils we have successfully secured Community Renewal Funding to support the growth and innovation of businesses in Rossendale. The increased investment will create at least 30 new jobs and safeguarding 20 jobs in our borough.”
Chairman of Growth Lancashire, Tim Webber, said: “I am delighted that Growth Lancashire will be working closely with Burnley, Pendle and Rossendale councils in the delivery of this programme, and will be supplementing the great support that the Growth Hub provides to Lancashire businesses.
“Furthermore, we will again have the opportunity of using our expert resources and experience to help businesses of all sizes to innovate and expand in the future.”
Established businesses, whether SME or large businesses, as well as early stage and start-up businesses will be eligible to apply for a grant.
There are three key elements to the programme:
- Providing revenue growth and innovation grants of up to £100,000 for R&D and new product development, as well as new or improved technology solutions. Eligible sectors include digital, manufacturing and engineering as well as retail, leisure and hospitality.
- Capital growth and innovation grants up to £20,000 helping manufacturers to develop low carbon technologies by funding new machinery.
- Grants of up to £20,000 to five start-ups or businesses under three years old, to fund professional services, items of equipment or to subsidise rent of new or larger commercial premises.
Business who feel they may be eligible for support under this new scheme can email Growth Lancashire at firstname.lastname@example.org to register your interest and you will be contacted from a member of the team to discuss your proposal.