£8m. cash boost to help create more jobs

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Businesses have been urged to bid for an £8m funding pot aimed at creating jobs in the county.

The Regional Growth Fund-supported Lancashire Business Growth Fund is a programme offering capital investment grants and international trade support to businesses across the county.

This programme is the answer for those firms who can use these grants to help finance new machinery, new premises or whatever it is they need to grow their business

Hugh Evans

The programme has been launched by the county’s two accredited chambers of commerce – North and Western Lancashire and East Lancashire – in partnership with Regenerate Pennine Lancashire, and is intended to create 600 new jobs and safeguard 200.

Its key aim is to accelerate the creation of sustainable jobs by encouraging companies to bring forward growth projects on a bigger scale with a larger impact at a time when those jobs are most needed.

Businesses bidding for grants from the scheme can claim up to 20 per cent of the total project costs, with the remaining costs leveraged from the bank or investment.

To be eligible for the programme, projects must involve the acquisition of new premises, infrastructure, machinery, expansion, or another suitable form of capital investment.

Businesses are also required to demonstrate how many jobs will be created through the project

North and Western Lancashire Chamber of Commerce deputy chief executive Hugh Evans, who is leading the project, said: “This programme is the answer for those firms who can use these grants to help finance new machinery, new premises or whatever it is they need to grow their business. This money is only on offer for two years, so we need companies to take advantage soon of it otherwise we will go unspent.

“And if you are sat wondering whether or not your project is suitable for this fund, speak to somebody at the Chamber.”

For more information call 01772 653000.