Fenland businesses urged to bid for grants totalling £400k
Business owners and people with a plan for a new start-up in Fenland can apply for a slice of a grant pot totalling £400,000.
Two new Fenland grant schemes are now open for bids, with a total of £150,000 earmarked to support start-up businesses in the district and £250k to help established businesses of all sizes thrive and ultimately sustain and create jobs.
The grants are being delivered by Fenland District Council's economic growth team Fenland for Business. They're funded by the UK Government's Department for Levelling Up, Housing and Communities (DLUHC) Shared Prosperity Fund thanks to a successful bid by Fenland District Council in partnership with Cambridgeshire and Peterborough Combined Authority (CPCA).
Cllr Ian Benney, Fenland District Council's portfolio holder for Economic Growth, said: "These grants can play a major part in supporting start-up businesses to get a foothold and more established businesses to continue to thrive in Fenland.
"This is good news for everyone as it's our businesses that provide local jobs and help our whole economy to grow and prosper.
"We're delighted to have already awarded several grants in the first round and look forward to seeing the full benefits of those as the projects are fully rolled out, as well as what can be achieved with this next round of funding."
Mayor of Cambridgeshire and Peterborough, Dr Nik Johnson, said: "It's great to see that businesses in Fenland will soon benefit from millions in funding received by the Combined Authority via the Shared Prosperity Fund.
"The Combined Authority, in partnership with Fenland District Council, is investing millions in the district to help businesses grow, support good jobs, skills and training and accelerate the local economy.
"I encourage Fenland businesses and entrepreneurs to see how this new funding can support their plans to grow."
Successful applicants from first round of business grants
More than £190k of funds were awarded in an initial phase of Investment in Business grants. An official acknowledgement event was held on Thursday (Nov 30) for the eight businesses that received funding. Those awards are expected to create 17 jobs and safeguard 12 roles.
Nick Osborn, of FRP Group Holdings, which secured one of the grants, said: "This will enable us to boost employment within our team and increase the range of services we offer to our customers.
"I would actively encourage other local SMEs to apply for the next round of funding as the process is really straightforward."
Cllr Ian Benney (left) with representatives from businesses successful in securing a total of £190k in the first round of Shared Prosperity Fund backed Fenland grants as the new application round is launched.
The new round of grants are available through the:
· The Investment in Business programme, providing grants of £5,000 to £25,000 for firms of all sizes, to cover up to 60 per cent of a specific project's cost.
· Fenland Start-Up Business Support Programme, providing tailored free help and support and a grant of £1,000 to £10,000 to cover up to 75 per cent of a project's costs for new start businesses and those that have been trading for less than 12 months.
The application process begins with completing an expression of interest form.
The window to complete expressions of interest closes on Saturday, April 6, 2024. Those judged to score highly enough in terms of ability to deliver the most beneficial outcomes will be invited to submit a full application. Support is given at all stages.
Funds will be awarded from end of May next year and projects must be delivered by January 2025.
Full details of both grants are available via Fenland District Council's economic growth arm Fenland for Business at:
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December 2023
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