Today is the opening of a new round of the country’s Regional Growth Fund, with the Deputy Prime Minister calling on businesses across the UK to make their case for a share of the £350 million available funding. This fund has already helped over 180 business projects get a boost, creating jobs and employment across the country and helping businesses to get ahead. It has also attracted significant private sector investment.
Deputy Prime Minister Nick Clegg commented: “The Regional Growth Fund is already proving a shrewd investment by providing a welcome boost to jobs and growth across the country, with thousands of new jobs created, businesses expanding into new markets and manufacturing new products. With this next round of funding, I would urge England’s budding businesses to produce top quality bids to access the money that can help them grow”
“There’ll be stiff competition, and we can only invest in those projects that will lead to sustainable jobs and the best value for money. Boosting jobs and growth is our number one priority for Britain right now.”
Previous rounds of the Regional Growth Fund has provided funding to many projects, 89% of which are now progressing well and have been boosting growth across a number of sectors. Overall, previous rounds’ investments are in the process of creating or safeguarding half a million jobs, along with a private sector investment of £13 billion into the economy.
So, if your business is looking for funding for a new and innovative project which will boost jobs in your area, then putting together a bid for a slice of the Regional Growth Fund could be your next step. However, if you’re looking for more accessible, day to day, sustainable funding, then be sure to explore your other options as well. Invoice finance is one such route to finance, and one that’s been endorsed by the government as a way to help businesses access finance without going to the banks. Factoring and invoice discounting have helped thousands of companies increase their cash flow and boost growth – and they could help you too.