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Lincolnshire firms urged to bid for RGF

Lincolnshire businesses have been urged to apply to the Regional Growth Fund after a new round of bidding was announced on Thursday.

The Deputy Prime Minister opened up a further £350m to businesses with growth aspirations, aimed at manufacturers and small businesses.

Representatives of the Greater Lincolnshire Local Enterprise Partnership (GLLEP) encouraged firms in their region to apply for their share of the cash.

Cash is allocated in two different stream depending on the type of organisation bidding.

‘Projects’ are directly awarded with cash, whether it is a company, local authority or non-profit organisation, whereas ‘programmes’ see money go through an intermediary who distributes cash through grants or loan schemes, or uses the funding to invest in infrastructure to support business growth.

GLLEP’s chair, Ursula Lidbetter, commented: “This fund represents an opportunity for our economy to prosper through new projects, developments and jobs.

“Increasing business growth in our area demonstrates that Greater Lincolnshire is a place to do business, encouraging inward investment, further increasing our local economy.

“Applying for a share of the RGF can be a daunting process, which is why we want to support businesses through the application process and hopefully secure that funding.

“We are also seeking ideas and input for a potential collective bid, which could help the Greater Lincolnshire area secure a bigger slice of the pie.”

Bids for the money must be made by midday on 20th March, and the minimum amount must be £1m or above.

This was posted in Bdaily's Members' News section by Miranda Dobson .