Small businesses across Staffordshire and Stoke-on-Trent can access additional funding

Small businesses in Stoke-on-Trent and Staffordshire can apply for grants of up to £5,000 to help with their future growth.

The Business Enterprise Fund, run by Shropshire Council since 2011, has recently secured additional funding and is now open to businesses in Staffordshire and Stoke-on-Trent. It is open to small to medium sized enterprises to support start up, growth and diversification. The funding is available until December 2014.

Additional grant funding has been secured through the European Regional Development Fund (ERDF) and businesses with capital projects in excess of £2,000 are encouraged to apply. Grants are available of up to £5,000 for existing businesses (although particularly innovated projects could benefit from larger amounts) and £1,500 for start-up and young businesses. Businesses are required to match fund 50 per cent of the grants.

LEP chairman Ron Dougan said: “Access to funding is vital to small and medium sized businesses and we want to make sure they are aware of all opportunities open to them. This type of support can make a real difference to start-up companies or small businesses. It will complement successful initiatives like the Stoke-on-Trent and Staffordshire business loans fund which has benefited over 80 companies and created or safeguarded around 400 jobs.

“Our small and medium sized enterprises play a significant part in our economic growth and I hope as many as possible get in touch to find out more.”

The scheme was launched at the New Grants for Growing Business breakfast event organised by the Staffordshire Business Environment Network this week. The scheme has £700,000 available and is set to support around 114 additional businesses and 40 individuals to start a business by December 2014.

People can find out more by contacting businessenterprisefund@staffordshire.gov.uk or the Stoke-on-Trent and Staffordshire Business Support Helpline 0300 111 8002.