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Business leaders hear more about £40m growth fund

PUBLISHED: 13:43 18 November 2011

Kent County Council cabinet member for regeneration and economic development Kevin Lynes

Kent County Council cabinet member for regeneration and economic development Kevin Lynes

Archant

East Kent MPs and County Hall chiefs have met with businesses to discuss how they can benefit from the £40m Regional Growth Fund.

Details of the funding were discussed at a meeting at Hornby Hobbies in Margate today including how much was available in grants and where interested businesses and individuals could find out more.

It is anticipated that two types of grant funding will be available to businesses and enterprise to enable job growth; springboard grants of up to £25,000 for start-ups and small businesses with less than 10 employees, and larger grants for investment and growth worth up to £2.5m.

Of the £40m awarded to east Kent through the government’s Regional Growth Fund, some £3.5m is expected to be spent on improving transport links.

Cabinet member for regeneration and economic development at Kent County Council, Cllr Kevin Lynes, said there were still a number of “hoops” to go through.

“We’ve had this successful bid and we’ve got to make sure the money comes through as quickly as possible,” he said.

“It’s important that grants go to the right businesses. When there’s money on offer you tend to find a lot of people come out of the woodwork with zany ideas for a business, but we need to make sure grants go to businesses that can deliver growth.”

The £40m is expected to be available to applicants from spring 2012.

If you think your company may be eligible for a grant you can register interest at enquiries@locateinkent.com or call 01732 520700.

For more information visit www.kent.gov.uk/businessgrants.

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