BUSINESS | £23.5million funding pot launched for Herefordshire businesses

A massive £23.5million funding pot has been made available for companies across Herefordshire to help them turn their growth plans into reality.

The new Business Growth Programme 2 (BGP2) has been launched across the county offering grants of between £2,500 and £1million to B2B companies to drive growth.

New start-ups and existing small and medium-sized enterprises (SMEs) were today urged to sign up for the programme which is supported by the Marches Growth Hub, the one-stop shop for business funding advice and support.

Growth Hub chairman Paul Hinkins said BGP2 would play a vital part in helping companies to succeed – and building a thriving regional economy as a result.

“The programme is designed to strengthen supply chains, stimulate innovation and help businesses grow and we know from the success of the original BGP what a crucial role it can play.

“Getting access to this funding can often be the difference between a company having a successful launch or being able to drive their business onto the next level, creating jobs and wealth for the region as a result.

“I would urge any company which thinks this support could help them to expand and create new jobs to start the application process as soon as possible.”

BGP2 – which is part-funded by the European Regional Development Fund and managed by Birmingham City Council – builds on the successful delivery of the £33m Business Growth Programme which closed in December 2018.

It is available to:

• Start-Up B2B Small to Medium sized enterprises (SMEs) moving into or located in The Marches Local Enterprise Partnership area
• Existing B2B SMEs moving into or located in The Marches Local Enterprise Partnership area

Grants of between £2,500 and £10,00 are available to start-up businesses whilst existing businesses can apply for between £10,000 and £1million.

The Marches Growth Hub offers free support and guidance for businesses on BGP2 and staff at the three hubs in Hereford, Shrewsbury and Telford are available to meet businesses face-to-face to support the application process.

To talk to someone about the programme and get some help with your application, call Marches Growth Hub Herefordshire on 01432 261758 or email enquiries@marchesgrowthhub.co.uk