March 18, 2014 12.44 pm This story is over 120 months old

New £1.2m funding for Lincolnshire business growth

Business growth: Up to 100 SMEs in Lincoln, Boston and East Lindsey can now apply for local support and funding.
Photo: Petr Kratochvil

Up to 100 small and medium-sized enterprises in Lincoln, Boston and East Lindsey can apply for a £2.1 million funding pot, which will create over 30 new jobs.

Under Lincolnshire County Council’s Business Growth and Finance Programme, £1,246,270 is being invested so SMEs can benefit from expert advice and cash grants.

The guidance will be tailored to individual needs, with businesses able to choose from strategic, financial or creative support.

The strategy route will see experts help businesses plan for the future and improve every aspect of the way they operate.

If financial support is chosen, money specialists will help ensure finances are in order and that the company is financially ready for growth, as well advise on how to apply for extra funding.

If creative support is preferred, businesses will be offered advice on all aspects of Intellectual Property creation, including developing new products and services that could open up opportunities in different markets.

Finally, to put the advice into action, all participating firms will be able to apply for a grant of between £200 and £2,500.

The Business Growth and Finance Programme is part-funded by the European Regional Development Fund, which contributed £874,230.

Councillor Colin Davie, Executive Member for Economic Development said: “Local companies are vital to our future prosperity and standard of living.

“The comprehensive support package we’re offering will help improve firms’ performance – boosting economic growth and creating jobs.

“It can help with anything from streamlining processes, making the most of technology and developing products, to entering new markets, bidding for funding and putting innovation at the heart of business operations.”

The project will run from March 2014 until September 30, 2015. Businesses can apply by contacting [email protected] or calling 01522 837269.