£6m funding launch to support growth

Following Sandwell Council’s success last year in helping companies across the borough secure critical business funding, the council today announces the launch of a set of new grants worth up to £6m to help support local companies with their growth and investment plans.

With the application process now open, both the Green Shoots + and Growing Priority Sectors in the Black Country grants aim to support a range of companies, from SMEs to large enterprises, and contribute towards their capital expenditure plans that would help create private sector jobs.

A maximum of up to £1 million is available for each application and the Black Country Local Enterprise Partnership (LEP) and Sandwell Council invite companies to make their applications.

Commenting on the new grants, Councillor Darren Cooper, leader of Sandwell Council, said:

“As a council, we are committed to supporting businesses growth aspirations and ensuring their ambitions are not hindered by a shortage of funds, skills or expertise. Our dedicated Think Sandwell team has a track record in helping businesses develop and grow, overcome challenges and achieve their commercial objectives.”

The launch of the funds comes on the back of a bumper performance for Sandwell Council over the years in securing funding. From September 2012 to March 2015 the council has secured £12.9 million of funding. This support has helped to create and safeguarded hundreds of jobs; organised monthly networking events; and helped businesses make strategic business contacts resulting in new business.

Most recently, Think Sandwell provided business support and advice to Rimstock, the world-leading manufacturer of alloy wheels, resulting in the company securing a grant award via the Government’s Regional Growth Fund (RGF). The funding will enable investment by Rimstock in new manufacturing techniques and processes at its Church Lane factory in West Bromwich, and will help to safeguard and create new job opportunities locally.

The first stage of the process involves interested companies making an Expression of Interest. The Black Country Growth Hub’s Access to Finance team will review submitted forms. Where projects are suitable for Green Shoots + or Growing Priority Sectors, an invitation to submit a full application would be sent.

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Regional Growth