Why did only 11 businesses in the region bid for a slice of the latest round of the government’s regional growth fund? There were in fact 13 bids totally £47m but this is only 3% of the total on offer making the East of England region second lowest after London.
The independent advisory panel chaired by Lord Heseltine are getting ready to consider the 309 applications totally £315m put in for the Regional Growth fund prior to passing over to a ministerial panel headed up by Nick Clegg.
Whatever the reasons for limited bids going in from businesses for the regional growth fund what is absolutely essential is that that Norfolk businesses who are eligible do take advantage of the ring fenced money for our area which was last week officially launched by Vince Cable. The £3m Growing Business Fund secured by the New Anglia LEP will provide grants of between £25k and £100k to businesses who have a shortfall in their investment plans and are able to create one job for every £10k provided by the fund.
At a time when securing funding for new projects has never been so challenging I would encourage any Norfolk Chamber member whose business is based in Broadland, Great Yarmouth, Norwich, or South Norfolk to check out the New Anglia website for more details.
