20 May 2024

Business funding set to boost Ashfield economy says Chamber

Picture of handshake in business meeting

East Midlands Chamber has welcomed grants of up to £30,000 available for businesses across Ashfield, thanks to a new scheme aimed at boosting the local economy.

The grants from Ashfield District Council are to support the growth of established micro, small and medium sized businesses based in the district.

The programme is being funded by using some of the £3.2m allocated to Ashfield District Council from the UK Shared Prosperity Fund (UKSPF).  The business grants ranging from £8000 – £30,000 can be used to support staff training, IT equipment and machinery, marketing, consultancy services, overseas trade visits including conferences and other project-related expenses.

To apply for the match funded grant scheme, which has an intervention rate of 50%, businesses need to be engaged in the Ashfield Accelerator Project and have an eligible project cost of at least £16,000.

The scheme closes on 31st October 2024 and any awarded projects must be completed by 31st January 2025 to be accepted.

East Midlands Chamber Deputy Chief Executive Diane Beresford said: We’re delighted to be working with Ashfield District Council on this new grant, which will provide a boost to local businesses and the local economy. We think there will be a lot of interest in the new fund and would urge businesses to get in touch now, talk to an Accelerator Business Adviser and discuss the growth projects they have in mind before all the funds are allocated.”

For more information about the scheme, click here.