Small businesses in Coastal West Sussex (CWS) could secure substantial funding from the European Regional Development Fund. It is the first time that these funds are being targeted at Local Enterprise Partnership areas, including CWS. Around the country a total of £5 billion of funding is being made available from the 2014 to 2020 round of the European Regional Development Fund and the European Social Fund.
Local organisations working with small firms will now be able to apply for a share of this funding. The funds will support innovation, boost businesses and create jobs. Across the country Local Enterprise Partnerships, like the Coastal West Sussex Partnership, and other local partners will play a key role in shaping how the money is allocated and invested.
Local Growth and Northern Powerhouse Minister James Wharton said: This funding will give the places a chance to contribute more to the national economy and unlock local potential. It will ensure we can build up local economies around the country and the Northern Powerhouse that will have a big and real and positive impact on people’s lives, delivering more jobs, more opportunities and a better future for all.
“We want local partners to come forward with how they want to use this money to drive forward their economy. As part of our long-term economic plan this money will provide a big boost to businesses and help create numerous jobs locally that will also benefit people living in towns and villages nearby.”
A variety of requirements and criteria must be met in order to apply for funding through the programme. Please follow this link to read more and find out about the programme guidance to see who is eligible to apply for funding from the European Regional Development Fund and the European Social Fund.