Regional Growth Fund applicants urged to seek local support early

The Heart of the South West Local Enterprise Partnership is reminding businesses applying for funding from the Government’s Regional Growth Fund (RGF) to start their applications early.

Round 6 of the Regional Growth Fund, which opened on 19 June 2014, makes at least £200 million available to support projects that raise private sector investment to create economic growth and sustainable employment.  The Local Enterprise Partnership (LEP) wants to make sure businesses in its area benefit as much as possible from the fund.

Chris Garcia, Chief Executive, Heart of the South West LEP, said: “This is the sixth round of RGF funding and we want to encourage even more businesses throughout the area to apply.

“One of the ways in which businesses can strengthen their application is by having it endorsed by their Local Enterprise Partnership.  We want to support as many businesses as we can but, as we are a very small team we are asking applicants not to leave it till the last minute before they get in touch with us.”

The deadline for submitting bids to Government is noon on 30 September 2014 and the Heart of the South West LEP may need time to review requests for endorsements.  Businesses are therefore urged to submit their endorsement requests as soon as possible, and by 16 September at the latest, to ensure the LEP has plenty of time to process their request.

The RGF, which is run by the Department for Business, Innovation and Skills, is focused on the private sector and bids will only be accepted from wholly private organisations such as limited companies and universities. The minimum bid threshold is £1 million.

As well as contributing to the aims of the LEP’s long-term strategy, bids must meet the overall objectives of the RGF. More information about the RGF and application process, including dates of roadshows and expression of interest days can be found at www.gov.uk/understanding-the-regional-growth-fund