Substantial business funding package to turbocharge local economy

Grants worth up to £30,000 are available to businesses across Ashfield thanks to a new scheme aimed at boosting the local economy.

Ashfield District Council is offering grants to support the growth of established micro, small and medium sized businesses based in the District.

The programme is being funded using some of the £3.2 million allocated to Ashfield District Council from the UK Shared Prosperity Fund (UKSPF).

The business grants – which range from £8000 to £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 businesses need to be engaged on the Ashfield Accelerator Project and have an eligible project cost of at least £16,000. This is a match funded grant scheme, with an intervention rate of 50%.

The scheme will close on 31 October 2024 and any awarded projects must be completed by 31 January 2025 at the latest to be accepted.

For more information about the scheme, you can request a copy of the guidance document by contacting business.support@ashfield.gov.uk

Diane Beresford is Deputy Chief Executive of East Midlands Chamber, which delivers the Ashfield Accelerator Project on behalf of Ashfield District Council. She said:

“We are 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.”

Cllr Jason Zadrozny, Leader of Ashfield District Council, said:

“Business investment is crucial as we continue to drive local growth. Ashfield is an area where businesses can thrive, knowing they can access support to help them flourish. This scheme is another fabulous example illustrating our commitment to growing Ashfield’s economy.”