Lancashire Business Growth Fund
East Lancashire Chamber of Commerce and delivery partners Regenerate Pennine Lancashire and North & Western Lancashire Chamber of Commerce have competitively secured £8 million from Round 6 of the Regional Growth Fund to stimulate enterprise across the County by providing grants and International Trade support to manufacturing businesses with the potential for economic growth.
Lancashire Business Growth Fund Programme Aims:
- Unlock investment opportunities for manufacturing companies
- Accelerate the creation of sustainable jobs in the Lancashire economy
- Encourage companies to bring forward growth projects here in Lancashire not elsewhere; on a bigger scale with a larger impact; and now when jobs are needed rather than later
- Create 600 new jobs and safeguard 200 existing jobs
- Leverage £40,000,000 of private sector investment that would not otherwise have occurred or would not have occurred as quickly without the support of the programme
- Influence the National Export Challenge by supporting companies to commence or grow their export sales
If you want to discuss the Lancashire Business Growth Fund and what grant funding may be available to you and your business, please give us a call. It’s never too early to talk
Up to 20% funding of the total project costs is available from the Lancashire Business Growth Fund with a minimum grant of £10,000.
Eligible costs are:
- Machinery/Plant acquisition
- Infrastructure improvement
International Trade Support to grow your business
Up to 50% funding. The East Lancashire Chamber of Commerce brings together the best team of experienced specialist International Business Advisors and financial support so businesses with the ambition and capacity to grow internationally can get tailored support.
Whether you are looking to reach more customers, increase turnover or expand your international supply chain, the good news is there’s never been a better time to access international support from Lancaster & District Chamber of Commerce to help you accelerate business growth.
Lancaster & District Chamber of Commerce can offer:
- International Agreements to trade safely with distributors and agents
- International quotations with terms and conditions
- Specialised in-house training covering various topics
- Specialised support from an experienced International Business Advisor
- Guidance on payment terms and credit reports
- Networking with international traders across the County
How much is available?
Grant Assistance: Funding may be allocated up to 20% of the total project cost, subject to state aid regulations and an analysis of the funding requirement. An example project may involve a £50,000 total investment of which £10,000 is made available from Lancashire Business Growth Fund.
Recent beneficiaries of LBGF Grant Assistance includes:
- The Cardboard Box Company, Accrington – awarded £50,000: 5 jobs created – read their story here
- J Atkinson & Co, Lancaster – awarded £43,035, 4 jobs created – read their story here
- Optimum Coatings, Morecambe – awarded £80,000, 9 jobs created, 5 jobs safeguarded – read their story here
- Connect2Cleanrooms, Lancaster – awarded £31,346, 6 jobs created – read their story here
- SJA Film Technologies, Accrington – awarded £70,000, 7 jobs created, 2 jobs safeguarded – read their story here
- CoolKit, Burnley – awarded £240,000 – 24 jobs created – read their story here
- Wykamol Group, Burnley – awarded £72,792, 8 jobs created – read their story here
International Trade Support: Up to 50% funding may be allocated to help businesses develop their international trade business. An example project may be to design and deliver a bespoke one day in-house programme on export sales which will attract 50% funding from Lancashire Business Growth Fund.
Previous beneficiaries of RGF International Trade Support through local Programmes includes:
"Lancaster & District Chamber of Commerce listened to our needs for a training programme on Letters of Credit, put a detailed programme together and arranged the funding. It was delivered by a very knowledgeable trainer. We were very satisfied with the outcome".
"The research undertaken by Lancaster & District Chamber of Commerce was more than useful, it was fundamental in increasing our sales in the USA".
"Lancaster & District Chamber of Commerce assisted us with Credit Checks and background information when we needed to understand our exposure in an International Market. They also helped by facilitating introductions for financial support and cover which has enabled us to pursue opportunities".
What is the Process?
In the very first instance, please contact Mike Beckett on 01254 356447 who will be delighted to offer guidance and discuss at length your ideas and plans, in confidence.
Grant Assistance journey – companies are invited to complete an online Expression of Interest – HERE – and those who meet the eligibility will then be supported by a dedicated Project Officer to develop a full application for panel assessment. Applications are reviewed by an independent panel comprising of both private and public sector representatives.
When the funding is approved by the panel, the East Lancashire Chamber of Commerce will issue the offer letter which will incorporate the full terms and conditions – expenditure, timescales, evidence, monitoring and record-keeping.
International Trade Support journey – we encourage businesses to contact the East Lancashire Chamber of Commerce to discuss their export and import ambitions and requirements. A review will be carried out and tailored support will be provided by an experienced International Business Advisor.
Lancashire Business Growth Fund – Grant Assistance & International Trade Support Offer
- Predominantly for manufacturing companies
- All sizes of businesses can be considered
- Located in Lancashire or moving into Lancashire
- Ambition to create private sector employment
- Leverage Private Sector Investment
- Exclusions may apply to certain business activities
The following criteria will strengthen the chances of companies securing a grant:
- Commitment to take on apprentices/graduates/staff-training.
- Commitment to make efficiencies in energy and carbon saving.
LBGF grant funding cannot support any form of displacement activity, whereby the proposed benefits of the project offset reductions in output or employment from within the local market.
The Lancashire Business Growth Fund is a competitive process. All grants awarded by the East Lancashire Chamber of Commerce as the accountable body for the Fund are discretionary. The decisions of the East Lancashire Chamber of Commerce, delivery partners Regenerate Pennine Lancashire, North and Western Lancashire Chamber of Commerce, and those of the independent and business-led grants panel are final.
How to get in touch: