Small to medium-sized business enterprises in Cannock Chase are in line for grants of up to £100,000 under a new Government-backed funding initiative.
Start-up and existing SMEs based in the Cannock Chase Council area can tap into a four-cornered local authority package.
Birmingham City Council, Cannock Chase Council, Solihull Metropolitan Borough Council and Shropshire Council are streamlining funding support from the UK Shared Prosperity Fund.
They have launched the West Midlands SME Grant Programme (WMGP), drawing on Birmingham’s £7.4m of new grant funding, to support SMEs in the region in delivering co-ordinated business support.
It means eligible firms based in the Cannock Chase Council District area can apply for grants from £2,500 to £100,000 to support their growth projects. Businesses must employ less than 250 people.
Cannock Chase District Councillor Mike Sutherland said: “Inflationary pressure is still being felt by local businesses and this funding from the UK Shared Prosperity Fund is much welcomed.
“For businesses in the Cannock District including Rugeley the grants will make all the difference in keeping them sustainable.”
Awards will be considered for projects such as expanding and growing existing businesses, inward investment, developing new markets opportunities, innovation including new product development and capital investment.
Grants will also be available for increasing the productive capacity of new and existing premises through new property builds, refurbishment and extensions, and digital projects.
Support is also available for Cannock Chase businesses looking to take on apprentices.
Applicants must demonstrate their projects will create new jobs. Grant awards will also be limited to a maximum of 50 per cent of the total project costs with businesses expected to “match-fund” whatever grant amount they receive.
Business leaders can download the WMGP eligibility criteria and other WMGP documents at http://www.birmingham.gov.uk/wmgp
For the WMGP application email [email protected]
