Lincolnshire

New £160k pot to help drive business development in Greater Lincolnshire

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Businesses across Greater Lincolnshire are urged to bid for their share of a £160,000 pot to help accelerate new investment opportunities and increase economic activity.

The new Feasibility Fund, launched by the Greater Lincolnshire Local Enterprise Partnership (GLLEP), will provide businesses and organisations across the public, private and voluntary sectors grants up to £50,000 towards business development and job creation.

The fund is now open for bids and will remain open until 21st November 2016. Applicants will be expected to provide a minimum of 50% of the costs and must outline how their scheme will help to address the cross-cutting priorities of the GLLEP’s Strategic Economic Plan.

An earlier Feasibility Fund, which opened in February 2016, distributed £216,500 to six schemes, including the Holbeach Food Enterprise Zone (FEZ).

GLLEP Director Ruth Carver said: “Many organisations have great energy and ideas that will help us to achieve economic growth, but sometimes they lack the capital required to undertake detailed technical and feasibility works.

“This fund will give those organisations a helping hand and will drive the best proposals forward to the point of commercial reality and delivery on site.”

Tim Mills, Executive Manager for Growth at Breckland and South Holland District Councils, said: “Our £34,000 feasibility grant has enabled us to do key work on infrastructure, economic and other studies to make the FEZ investment ready.

“This means the FEZ can be a vehicle to showcase technical expertise, research and development across the sector, at the same time offering support and opportunities for related businesses to start, grow and flourish.”