Businesses urged to apply for RGF grants before deadline closes

MIDLANDS businesses have been urged to apply for a share of the Government’s latest round of the Regional Growth Fund ahead of this month’s application deadline.

There is £300m up for grabs in Round Five of the fund, which has been established to support projects that are using private sector investment to create economic growth and sustainable employment.

Deadline for applications is midday on December 9.

Paul Bulzacchelli, managing director of Midlands-based Inspired Accountants said: “Round Five is just about still open to private sector bidders seeking a fund of £1m or more. The government is calling for companies planning high quality projects that will generate significant private sector investment and sustainable jobs to apply.”
 
So far £2.6bn has been awarded in the fund’s first four rounds, which has been used to help finance more than 400 projects in England and Wales. Over 3,000 SMEs have already benefited from the scheme.

“To obtain funding, you must successfully complete the Regional Growth Fund process, which is overseen by an Independent Advisory Panel of business leaders and chaired by Lord Heseltine,” said Bulzacchelli.

“The Independent Advisory Panel make recommendations to a Ministerial Panel, led by Deputy Prime Minister Nick Clegg, which will make the final decisions as to which bids should receive funding.  That may sound daunting, but a good accountancy practice with practical and successful experience of winning Regional Growth Fund money and who know the right banking contacts will be able to support an application.”