Published: July 22nd, 2019
You may have read or heard about the launch of our new £10million Growth Challenge in the media over the past few weeks.
We are urging businesses across the Marches to get in touch with us to see how we can help them get their hands on some of the huge amount of funding which is available to support them and help them grow.
One such scheme is the new Business Growth Programme 2 (BGP2) which can help both Start-ups and existing Small to Medium Sized Enterprises (SMEs) looking to invest, expand and create jobs.
The scheme has a total budget of £23.5million and offers grants of between £2,500 and £1million to B2B companies to drive growth.
BGP2 – which is part-funded by the European Regional Development Fund and managed by Birmingham City Council – is available to:
• Start-Up B2B Small to Medium sized enterprises (SMEs) moving into or located in The Marches Local Enterprise Partnership area
• Existing B2B SMEs moving into or located in The Marches Local Enterprise Partnership area Grants of between £2,500 and £10,00 are available to start-up businesses whilst existing businesses can apply for between £10,000 and £1million.
Examples of existing SMEs which might qualify for some of the support include supply chain companies investing to develop and grow, businesses investing in innovative close-to-market processes, new products and services and those looking to relocate into the Marches or conduct marketing activities.
Funding might help with the purchase of new capital equipment, improvement of production processes and systems, the application of innovative advanced technology, new product development or relocation into Herefordshire, Shropshire or Telford & Wrekin.
New start-ups could qualify for help if they have been trading less than six months and need support with installation and internal refurbishment costs, business signage, capital equipment, marketing/branding, broadband, telephone connectivity, business professional fees to aid business set up (such as legal and notarial fees) along with technical and financial expertise costs.
BGP2 is offered on the basis of a company creating new jobs. For every £10,000 grant awarded, one new job must be created.
The Marches Growth Hub offers free support and guidance for businesses on BGP2 and staff at the three hubs in Hereford, Shrewsbury and Telford are available to meet businesses face-to-face to support the application process.
To check if you’re eligible and for more information, click here. To talk to someone about the programme and get some help with your application, call your local Marches Growth Hub on:
Herefordshire 01432 261758
Shropshire 01743 250526
Telford & Wrekin 01902 321769
or email [email protected]
Good luck – and let’s get growing.