Due to overwhelming success – The Black Country Gold project is now closed to Expressions of Interest.
SMEs and start-up firms across the Black Country are expanding their businesses by tapping into an European Regional Development Fund (ERDF) funded scheme which is being led by Wolverhampton City Council.
The Black Country GOLD initiative is a capital and revenue grant scheme which provides financial assistance and development support to businesses across Wolverhampton, Walsall, Sandwell and Dudley.
The scheme provides eligible businesses the opportunity to apply for grants up to £16,000 to support expansion projects that will enable their business to grow by up to 20 per cent.
Through the scheme, Black Country-based start-ups and SMEs who are involved in advanced manufacturing, building technologies, business services, environmental technologies, transport technologies and social enterprises can purchase plant and machinery equipment, refurbish their premises or buy in consultancy which leads to business growth.
The grant covers 50 per cent of project costs, with the balance being match-funded by the business. Funds are paid to businesses through Black Country Gold once they have completed their project.
A range of Black Country businesses have successfully applied for the funding so far, including Walsall-based Ambur Community Radio, who are England’s first 24-hour Hindi radio station, and Sandwell-based Paint 360 who reengineer paints to be environmentally and ecologically friendly.
Wolverhampton firm Stone’s Throw Media, who specialise in video production and 2D/3D animation, recently used their funding to develop a high-tech drone capable of taking stunning aerial video, which was launched recently at Wolverhampton’s Molineux Stadium.
Jagtar Singh, Business Support Manager at Wolverhampton City Council, said: “The Black Country GOLD scheme is a tremendous opportunity for businesses to access support that will help with development projects; almost half of the available funds have now been allocated so it is important that businesses move quickly to complete the Expression of Interest.
“Businesses will also have access to a free support package from the moment they register their interest, which includes free access to business seminars delivered by leading consultants, as well as a case officer to provide support throughout the application process.”
Once a grant has been approved, businesses need to complete their project in full within 3 months in order to receive the grant. Businesses are urged to act now as demand for the funds is high.
For more information or to register your interest, visit www.wolverhamptonbsc.com