Businesses urged to apply for new funding to support their future growth

Businesses across Stoke-on-Trent and Staffordshire could boost their expansion with funding available through the local enterprise partnership.

Small and medium-sized businesses are being urged to apply for the Green Bridge funding to develop, grow and diversify their operations. The fund is open to businesses operating or diversifying in the green sector. This can include:

• Advanced engineering
• Aerospace
• Low carbon and renewable energy
• Electronics
• Manufacturing
• Building technologies
• Transport and logistics
• Creative industries

Businesses can apply for grants of between £10,000 and £100,000 to develop new markets, products, skills development or buy equipment.

Larger grants may be considered where the business can demonstrate significant economic benefits and job creation. In total, £20 million has been made available to the six local enterprise partnerships in the West Midlands region from the Government’s Regional Growth Fund. It follows Lord Heseltine’s No Stone Unturned review, which aims to drive economic growth throughout the UK.

Stone-based Polyflon Technology Ltd was successful in obtaining a Green Bridge grant of £30,000 from Round 2 of the programme with a total investment of £147,000. This has enabled it to relocate to new larger purpose built premises to grow its manufacturing output and create three jobs. Director Matthew Pedley said: “This was the first grant fund we had ever applied for and I was daunted by the paperwork and terminology at first, but I found a Green Bridge 1-2-1 session really helpful in understanding what was needed from us in terms of outputs and milestones – this encouraged me to pursue our application.”

Applications need to be submitted by October 24 this year.

LEP chairman David Frost said: “The Green Bridge Fund offers small businesses more opportunity to grow and create jobs. It is a regional fund and we want to see as many applications from Stoke-on-Trent and Staffordshire as possible. Support is at hand through our one-to-one sessions which I’d urge people to attend. The green sector includes a wide scope of businesses so many of our small companies will qualify for this funding.”