Black Country firms have until Monday to apply for growth funding

FIRMS in the Black Country have been urged to apply for financial help through the second round of a business development scheme.

Black Country GOLD, which is funded by the European Regional Development Fund (ERDF), is designed to support firms in the four council areas secure access to finance in order to grow and create jobs.

The scheme, administered by Wolverhampton City Council, gives SMEs the opportunity to apply for a grant up to £16,000.
 
The first seven applications to be approved for funding saw over £65,000 in grants distributed to companies in Wolverhampton, Walsall, Sandwell and Dudley, helping create 11 new jobs in the process.

In total, during the first phase of the scheme 69 eligible expressions of interest were received from businesses and these are now being supported to develop their grant applications.
 
As well as grants of up to £16,000, which must be match funded by the firms, a full package of support including workshops and one-to-one business support is also provided.

Tim Johnson, Wolverhampton City Council’s Strategic Director for Education and Enterprise, said: “This excellent initiative has already paid dividends for companies across the region.
 
“While the current economic climate has been challenging for SMEs there is a real hunger in the business community to expand, create new jobs and prosper.
 
“We are therefore delighted to be able to give a helping hand to support this drive.”
 
He said interest had already been keen and more grants were expected to be handed out in the coming weeks.

Further details are available from each Black Country Iocal authority and the scheme runs until Monday (June 30).