West Suffolk Council launches £300,000 of new business funding.

20 Aug 2024

Using funding from the Rural England Prosperity Fund (REPF) and the UK Shared Prosperity Fund (UKSPF), West Suffolk Council are excited to announce businesses can now apply for funding from a pot totalling £300,000.

The funding is designed to support businesses across West Suffolk, enabling them to grow and become more productive, to encourage innovation and to become more environmentally sustainable.

There are two streams of funding available, the first is supported by the REPF, which allows businesses to apply for capital grants of between £1,000 and £20,000. 

Businesses can use this grant scheme to purchase new equipment, tools and furniture, or make customer facing improvements such as new signage, external lighting, repairs or reinstatements.

This funding will support businesses in any part of West Suffolk, except Bury St Edmunds (this is part of the Government’s rules for the scheme, as Bury St Edmunds does not meet the definition of rural).  

The other stream of funding is supported by UKSPF and enables businesses to apply for revenue grants of between £5,000 and £10,000.

The funding could be used for expert consultants who can provide crucial advice to help businesses take the necessary steps required to move to the next level – whether it’s accessing new markets, acquiring the right type of finance, or developing new products and services.

Cllr Indy Wijenayaka, Cabinet Member for Growth at West Suffolk Council, said "As a council, we are committed to fostering sustainable growth across West Suffolk. This funding opportunity is a vital step in empowering our local businesses to invest in themselves, laying the groundwork for a prosperous future that benefits our communities and economy. I encourage all eligible businesses to seize this opportunity to enhance their operations and contribute to the sustainable development of our region."

Businesses wishing to apply, or wanting further guidance and support, should first contact the New Anglia Growth Hub to discuss their project ideas at New Anglia Growth Hub - Contact Us or call: 0300 333 6536. The Hub will also provide other wrap around business support. 

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