Businesses across Herefordshire should apply now to a £630,000 funding pot to help them grow and boost their productivity – before it’s too late.
Capital grants of up to £35,000 are available to help businesses invest in new equipment, processes or technology to help them grow and reduce their carbon footprint through the UKSPF Business Enterprise Fund.
But the deadline to apply to round four of the fund is midnight on May 12 and businesses could miss out if they don’t get their application in on time.
The Business Enterprise Fund can help companies grow by investing in capital equipment. The fund will match up to 50 per cent of the total cost, up to a maximum grant of £35,000, and is open to any project which helps improve productivity or resilience.
The fund is open to businesses which have been trading for at least six months and are based in Herefordshire.
It can be used to purchase capital equipment which enables the business to introduce new technologies or processes, and individual items that cost £500 or more. All projects must be match funded by the business.
Businesses which might not be able to make the May 12 deadline should contact the fund to discuss the possibility of a new round of funding in the future or alternative funding programmes.
The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills.
The Business Enterprise Fund is one of a package of UKSPF programmes being delivered by Herefordshire Council to support local communities and businesses.
For more details about the Business Enterprise Fund and advice on eligibility, visit https://www.herefordshire.gov.uk/directory-record/6680/ukspf-business-enterprise-fund-round-4
The Business Enterprise Fund team can be contacted on 01432 260787 or 01432 260662.