The new £33 million Business Growth Programme (BGP) has launched and the first funding round is open to applications.The programme aims to help hundreds of existing businesses in the region expand and grow.
The package of support is designed to strengthen supply chains, stimulate innovation and grow existing Small to Medium sized Enterprises (SMEs) across the Greater Birmingham and Solihull, Stoke and Staffordshire and The Marches Local Enterprise Partnerships (LEPs).
Part-funded by the European Regional Development Fund and managed by Birmingham City Council, the BGP builds on the successful delivery of the Business Development Programme, the Business Innovation Programme and the Green Bridge Supply Chain Programme, all of which closed in 2015.
The BGP will create over 1,300 new jobs, increase the competitiveness of almost 600 SMEs and offer grant funding of between £10k – £200k to eligible SMEs who have plans to expand and create jobs. It will consist of the following four key elements:
The HS2 Supply Chain Programme – offering grants of £20k – £200k towards projects for supply chain companies which have, or are in the process of securing, or have the ability to secure a contract for HS2.
The Green Bridge Supply Chain Programme – grants of £20k – £150k towards project costs for supply chain companies operating in, or expanding into the green economy.
The Business Innovation Programme – grants of £10k – £30k towards project costs for SMEs investing in innovative close-to-market processes, products and services.
The Business Development Programme – grants of £10k – £20k towards project costs for businesses looking to expand, relocate and improve access to markets.
For further information on which business support components best suits your needs and business, contact the Greater Birmingham and Solihull Growth Hub for free advice on completing your application: 0800 032 3488
Funding is subject to availability and eligibility criteria, details of which can be found by visiting www.gbslepgrowthhub.co.uk