News: Business Growth Grants

Posted on 29th August 2016

Calling all businesses: don’t miss your chance for a share of £2.4 million funding

There’s still time for businesses to apply for a share of £2.4 million funding to help them expand and create new jobs.

Managed by West Sussex County Council, the Business Growth Grants fund was launched by Coast to Capital Local Enterprise Partnership to provide businesses seeking to expand and create new jobs with capital grants of between £15,000 and £100,000.

The programme is exclusively open to SME’s, start-ups, existing businesses and social enterprises within the Coast to Capital region: West Sussex, Brighton and Hove, Lewes, Croydon, Epsom and Ewell, Reigate and Banstead, Mole Valley and Tandridge.

Leader of West Sussex County Council Louise Goldsmith said: “This is a fantastic opportunity to help local businesses hit the ground running and give others the investment they need to expand ahead of schedule.

“Sought after capital funding schemes like this don’t come around very often – we encourage all qualifying businesses to take advantage and register their interest as soon as possible to avoid disappointment.

“Don’t delay, apply for Business Growth Grants today and fund your future.”

Jonathan Sharrock, Chief Executive at Coast to Capital LEP, said: “This is a great opportunity for small and medium businesses in the region looking to grow their business and create jobs, but who are not finding it easy to source the finance required, to get an extra cash boost.”

Last year, the maiden £1 million fund was shared between 28 successful applicants and created 57 initial jobs – a figure set to rise to 148.

So far, this year’s scheme has attracted strong interest from a diverse range of sectors from food and drink producers to businesses within the creative industries.

Brighton-based Latest TV has thrived since investing its £19,000 grant in June 2015, helping to transform the channel from a local to global broadcaster. Producer Angi Mariani described how the funding enabled the company to create and complete programmes for sale on the international market.

“The grant helped us conclude a deal with Amazon Prime to sell our best programmes on their platforms and reach millions of viewers worldwide,” she said.

The award also funded Latest TV’s recruitment of talented young editors and filmmakers brought in to promote Brighton across the UK and further afield.

Family-run Bolney Wine Estate, near Haywards Heath, received a maximum £100,000 grant last October in order to create 10 new jobs and safeguard a further 11. The long established vineyard has also moved to develop a new mezzanine floor overlooking the vineyard with the hope of driving visitor levels.

Managing Director and Head Winemaker Sam Linter said: “By expanding our tourist shop and café facilities we can maximise on growing interest, which will in turn bring additional income into our business.”

On top of expanding its premises and securing the future of its staff, the producer is also exploring the possibility of hiring an apprentice – giving valuable opportunities to graduates from Brinsbury and Plumpton colleges.

For more information on the eligibility criteria and to access the expression of interest form, visit the website at www.businesswestsussex.co.uk/businessgrowthgrants or email businessgrants@westsussex.gov.uk.

 

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