Council wins £3.1m to help boost local business growth

A NEW scheme that will support the growth of smaller firms in Leicester and Leicestershire has been awarded over £3milllion of European Union cash.

Leicester City Council has led a successful bid to the European Regional Development Fund (ERDF) for £3.1milllion to kick-start the Collaborate project, which will be run in partnership with Leicestershire County Council, East Midlands Chamber of Commerce and the Food & Drink Forum.

The scheme – which is due to launch towards the end of February – will offer a comprehensive business support, capital grants and inward investment service for small to medium sized companies in the area.

It aims to support the growth of around 290 local firms, create some 350 new jobs and attract £2.4milllion of private sector investment into the area.

Businesses will be able to apply for grants of £10,000 to £25,000 to meet up to one-third of the cost of planned investment. To be eligible, firms must be employing fewer than 250 staff and trading business-to-business.

The business support programme will target firms operating within one of the sectors identified as a priority for growth by Leicester and Leicestershire Enterprise Partnership (LLEP).  These include: advanced manufacturing and engineering, the creative industries, fashion and textiles, financial services, food and drink manufacturing, logistics and distribution, low carbon energy or tourism.

The scheme will also aim to attract new inward investment from companies from the USA, China and India that are looking to expand or relocate into Leicester and Leicestershire.

For more information or register your interest, please visit the website
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