Member Article

£10m fund opened to M3 corridor companies

A £10m round of Growing Enterprise Funding has been opened up to businesses in Hampshire and Surrey by the Enterprise M3 Local Enterprise Partnership (LEP).

Companies in the M3 corridor will benefit from the investment pot, which has been set aside to create housing and jobs for people in North and Mid-Hampshire as well as South West Surrey.

The LEP hopes to drive economic growth in the region, and “kick start” infrastructure projects through the fund.

Housing projects, development schemes with “proven demand” and initiatives with a fast turnaround and value for money will be considered by the Growing Enterprises Fund.

Geoff French, Chair of the Enterprise M3 Board, said: “We want to use this £10million to fund developments that will make a real difference to our local economy.

“If you have a scheme, and it could be transport, utilities, broadband, flood defences, land remediation or an innovation/enterprise centre, that is ready to go but just needs a little bit of help in getting it going, I encourage you to contact us immediately.

“We can advise you on whether your scheme is appropriate for the funding and signpost you to possible help in moving your project forward.”

The fund has already supported numerous projects by businesses in the area, including Surrey-based Wey Holdings’ scheme to improve broadband infrastructure at its business centre, the Tannery Studios, in Send.

Wey Holdings’ managing director, Michael Hamburger,said: “For us, the saying ‘where there is an emergency there is an opportunity’ has come true.

“Following the failure of our banks, first Northern Rock, and then Lehman’s, we were able to turn to Enterprise M3 who helped fund vital infrastructure work that is helping my company support job creation in a high growth sector.

“Enterprise M3 went further than simply providing funding; they have also helped us build useful new relationships in our local area.

“As good example of which is the constructive dialogue that we now have with Surrey County Council, who are actively helping my company sort out some of the unique growth challenges of being a rural business. Without the help of Enterprise M3 my company would now be facing a far less certain future.”

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

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