Government urges SMEs to apply for latest round of RGF cash

SMEs in the West Midlands have been urged by the government to submit their bids for a share of the latest round of the Regional Growth Fund.

Round 4 of the scheme sees £350m up for grabs but applications have to be submitted by midday on March 20 – Budget Day.

The Department for Business, Innovation and Skills said that latest round would build on the success of the first three rounds and would continue to support high quality projects and programmes that generate private sector investment and create sustainable jobs.

Deputy Prime Minister Nick Clegg said: “Up and down the country, the Regional Growth Fund is investing in companies that can create jobs and attract substantial match-funding from the private sector. For every pound of government money, the private sector is putting in six pounds.

“There is £350m up for grabs for companies and projects in every region of England to grow. I want more businesses in the region to win money, lever private sector investment and achieve their ambitions.”

The Government has already signed nine final offer letters with companies from Round 3, well ahead of its April 19 deadline. The early conformation will allow the companies concerned to start their projects early. BIS said many more would be signed off during this month and next.

John Walker, National Chairman, Federation of Small Businesses, said: “This is a good initiative which I would encourage small firms to look at to see if they can benefit from it. We have heard some good stories from small businesses that have won funding. We really hope that small firms see this is available and the value of applying for a grant.”