The Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) and Cornwall Council are offering a helping hand to local businesses thinking of applying to the next round of the Government’s £3.2 billion Regional Growth Fund (RGF).
Round 5 of the RGF opens for business tomorrow (October 11) and will invite bids from the private sector seeking £1 million or more for high quality projects that create jobs, boost the economy and generate significant private investment.
Across the country, over 2,700 small and medium sized businesses have received money from the RGF, with £11 million having already been committed to SMEs and infrastructure projects in Cornwall and Isles of Scilly.
The LEP and Cornwall Council have asked Cornwall Development Company (CDC) to support any local business that wants to apply. CDC is the council’s economic development company and is able to guide eligible businesses through the application process.
Chris Pomfret, chairman of the Cornwall and Isles of Scilly LEP, said: “Businesses have to compete nationally for Regional Growth Fund support so it is important those bids are of the best quality, which is why the CDC’s expert team is on hand to help. The LEP will also lend its support to credible bids that meet the objectives of the fund, creating jobs and growing our economy.”
CDC is already delivering Regional Growth Fund investment on behalf of the LEP and Cornwall Council, as part of the Business Boost suite of funds, and funding is still available for SMEs looking for smaller levels of investment.
Applications for Round 5 open on October 11 and the deadline is 12 noon, December 9.