Growth hub support for West Suffolk businesses boosted with grants
02 Oct 2023
Small to medium sized enterprises (SMEs) across West Suffolk can now get even more support from New Anglia Growth Hub with the launch of a new grants scheme.
Businesses contacting the growth hub can already get help with their development plans and in identifying what other support they may need including directing them to funding they can access.
Now grants of between £5,000 to £10,000 are being made available to SMEs in West Suffolk through the Growth Hub. The grants, which require businesses to match fund what they are applying for, are available on a first come first served basis and can be used to support businesses in their development, such as through marketing, web design or the purchase of new equipment.
They are being funded by West Suffolk Council, using part of the money it was allocated from Government under the UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF).
Cllr Indy Wijenayaka, cabinet member for Growth at West Suffolk Council, said: “We have launched new grants to support projects to aid the growth of small to medium sized businesses across West Suffolk. These grants are using Government funds and I would like to encourage SMEs across West Suffolk to contact the growth hub to find out more about the grants and other business support available to them.”
SMEs can ask about the grants and get advice on how to expand and diversify by contacting the New Anglia Growth Hub at www.newangliagrowthhub.co.uk/contact-us or by phoning 0300 333 6536.
Where a business is eligible for a grant from the UKSPF or REPF, the business adviser will support them in completing an application form. The business will then be told whether they have been successful in its grant application within 28 days.
West Suffolk Council is supporting the business grants using £87,415 from the money it was allocated from the UK Shared Prosperity Fund (UKSPF) and £39,000 from the Rural England Prosperity Fund (REPF). The grant scheme is being mirrored by other district councils across Suffolk.
The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information, visit GOV.UK - UK Shared Prosperity Fund: prospectus