BUSINESSES in Warwickshire can now apply for cash support from the £90million Business Investment Growth (BIG) Fund – and the greener the better.
It is part of Warwickshire County Council’s (WCC) £140 Million Warwickshire Recovery and Investment Fund (WRIF).
The BIG Fund is designed to support existing businesses in Warwickshire, or those wanting to locate within the county, who are looking at growth or new market opportunities.
WCC is particularly interested in businesses and sectors that will help drive the future of the county’s’s economy, and those business activities that will help support the commitment towards a net-zero carbon economy.
The key objectives of the BIG Fund are:
* Creating new jobs within the county or for residents of Warwickshire
* Increasing economic output
* Levering additional investment into the county
* Increasing level of business rates
* Supporting transition to a low carbon economy
* Priority sectors of interest to WCC under this fund are automotive technology; digital creative and digital technologies and future of mobility.
Other priority sectorsinclude advanced manufacturing; culture, tourism and hospitality; modern methods of construction; health and wellbeing; agri-tech and rural based businesses; and businesses in the supply chain that support delivery of the WCC’s priority outcomes for people, such as public health.
Investment proposals from businesses outside these sectors will be considered on a case-by-case basis if they focus on innovation and future growth opportunities and are able to demonstrate a clear commitment to low carbon activities.
WCC economic spokesperson Coun Kam Kaur said: “We’re committed to working with our partners and with local businesses to ensure Warwickshire bounces back better with a vibrant and sustainable economy that is fit for the future in the world after the pandemic and this sizeable fund for businesses is a clear demonstration of that.
“We know that this is a big commitment, but we need an ambitious and bold strategy to play our part in creating a healthy job market with opportunities for everyone to find work.
“We are seeking applications that will have a positive impact not only on the economy but also on our society and environment, making Warwickshire the best it can be, sustainable now and for future generations.”
While this fund is focussing on a smaller number of higher value loans, The Local Communities and Enterprise Fund (LCEF) will be aimed at smaller and micro enterprises and will launch in the autumn.
How to apply?
Businesses who feel they meet the aims and ambitions of this fund and want to find out more are encouraged to complete the Expression of Interest form at www.warwickshire.gov.uk/wrif
The Business Growth team at WCC will then make contact to discuss further and provide an initial view on the suitability of the fund.
For more information about the BIG Fund and wider WRIF, visit www.warwickshire.gov.uk/wrif