Small and medium-sized businesses in the Bristol and Bath region are being offered cash grants to boost growth.
The £1.5m fund has been launched by the West of England Combined Authority (Weca) to help companies in Bath and North East Somerset, Bristol and South Gloucestershire to adapt to the new economic and regulatory landscape.
The Business Growth and Adaptions Grant is for SMEs to buy new products and equipment to help increase production, with funding of up to £30,000 on offer.
Patricia Greer, chief executive of Weca and Local Enterprise Partnership, said: “This new money from the combined authority will support employers to better equip themselves for future growth in the changing business landscape.
“The Business Growth and Adaptions Grant will help small and medium-sized businesses purchase and implement new products and equipment, so they can increase production and drive business growth and expansion – which may lead to more jobs for people in the West of England. The funding can also be used to adapt current business operations or bring in new ones.”
There are two funding streams available: £6,000 to £10,000 and £10,001 to £30,000. Businesses will need to be able to provide at least 20% match funding and the project they are requesting funding for should support operations or processes to maintain or increase turnover.
The new grants are part of the £10m Regional Recovery and Adaptions Fund agreed by the Weca committee in April. All applications will be assessed after the application window closes on August 24 at noon.
