A Herefordshire company is expanding after buying new equipment thanks to help from a grants programme, supported by the Marches Local Enterprise Partnership.
The Marches Local Enterprise Partnership has helped the business expand its in-house manufacturing operation thanks to the £7,834 award from the Small Equipment Grant programme.
The grant scheme, which is part-funded by the European Regional Development Fund and supported by the Marches Local Enterprise Partnership and Marches Growth Hub, is part of a £3million funding package which also includes the Marches Building Investment Grant.
Grants of between £1,000 and £10,000 are available under the programme, which is open to small and medium-sized companies across Herefordshire, Shropshire and Telford & Wrekin.
The grant is available as a contribution of up to 50 per cent and primarily covers B2B companies. Items purchased must exceed £500 in value and have a life expectancy of three years. Eligible projects must lead to the creation of at least one part-time job within six months or the creation of a new product or service to be used by other businesses.
Because of restrictions imposed by the ERDF, the scheme is not available to retail businesses, restaurants, drinking establishments and fast food takeaways, online retail or rental businesses, farms involved in primary production, or local social welfare facilities. Details of the scheme are available through the Marches Growth Hub.
The Marches Growth Hub Herefordshire can be contacted at business@herefordshire.gov.uk