More than £0.3 million in grant funding has been awarded to 21 businesses in the Greater Birmingham and Solihull Local Enterprise Partnership area, which includes Lichfield District, stimulating total investment of some £0.6 million and helping to create or safeguard 135 jobs.
The Business Development Programme has, in its first six months of operation, funded more than £0.6 million of project costs as part of the £8 million funding programme that is designed to support existing small and medium-sized businesses (SMEs) and help create up to 400 jobs and safeguard around 400 more across the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) area.
The European Regional Development Fund (ERDF) – funded Business Development Programme provides funding of between £10,000 and £15,000 for growth and expansion projects with a total cost of more than £22,000 – subject to criteria and approval by an assessment panel.
Councillor Mike Wilcox, Leader of Lichfield District Council, said: “Being part of the Birmingham and Solihull LEP gives Lichfield District businesses access to a wide range of programmes, including the Businesses Development Programme. It’s a great opportunity for businesses to get their development and growth schemes underway, creating jobs and prosperity for the district. I would urge all small and medium businesses based in Lichfield District to find out more about the programme and to consider applying for a share of the £8 million funding.”
The Business Development Programme, administered by Birmingham City Council with the GBSLEP, is available to businesses in the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) area that includes Birmingham, Bromsgrove, Cannock Chase, East Staffordshire, Lichfield, Redditch, Solihull, Tamworth and Wyre Forest authorities.
As well as the financial assistance scheme, the programme includes an intensive coaching and mentoring scheme called great200leaders.
The great200leaders scheme offers a development plan, consisting of 100 hours of leadership development. It is delivered over 12 months in ten peer group workshops, each workshop is headed by an inspirational expert speaker, and each participant receives £4,000 funding towards the cost.
This programme is aimed at 200 ambitious business owners and directors, to deliver personal performance and business growth.
For more information about the programme please visit www.birmingham.gov.uk/bdp
or to apply for the coaching and mentoring programme visit: www.winningmoves.com/G200L
About the Business Development Programme
The £8m Business Development Programme has been designed to help more than 400 qualifying existing small and medium-sized businesses to implement their growth and expansion plans. The programme has received £3.9m from the European Regional Development Fund (ERDF) and is administered by Birmingham City Council Business Development and Innovation Team. It is available to businesses throughout the Greater Birmingham and Solihull Local Enterprise Partnership area.
The programme provides financial assistance to qualifying companies by way of a grant of between £10,000 and £15,000 against minimum project costs of £22,000. The grant award is available for 45 percent of eligible project costs, subject to satisfying criteria and approval.
The programme aims to create more than 400 new jobs and safeguard more than 400 others.
Entry criteria
Financial Assistance Scheme
Designed to help more than 200 qualifying existing small and medium-sized businesses to implement their growth and expansion plans.
a) The business must be profit-seeking and have been trading for more than six months.
b) The business must be a small to medium sized enterprise (SME), i.e.
- have between 1-249 employees
- have an annual turnover less than £42m
- have a balance sheet less than £36m
- is less than 25% owned by a larger company or combination of larger companies.
c) The business’s premises must, or will be going to, pay its business rates to one of the local authorities within the GBSLEP area, i.e. Birmingham, Cannock, East Staffordshire, Lichfield, North Worcester (Bromsgrove, Redditch, Wyre Forest), Solihull or Tamworth.
- The business must be in an eligible SIC code and activity area.
- The business should not have received more than 200,000 euros of State Aid assistance in the last 36 months.
- Financial Assistance applications must be for business expansion projects costing a minimum of £22,000 and creating/safeguarding at least 1 FTE post.
- The business must have a current business plan.
- An administration fee of between £300 and £450 will be required on successful applications.
great200leaders – Coaching and Mentoring Programme
Businesses can also apply for coaching and mentoring which is available to more than 200 qualifying existing small and medium-sized businesses that can demonstrate growth ability. The 12 month programme consists of workshops, one-to-one mentoring, peer-group learning and expert support.
- The business should be profit-seeking and have been trading for more than 6 months.
- The business must be an SME (see above definition).
- · The business’s premises must, or will be going to, pay its business rates to one of the local authorities within the GBSLEP area, i.e. Birmingham, Cannock, East Staffordshire, Lichfield, North Worcester (Bromsgrove, Redditch, Wyre Forest), Solihull or Tamworth.
- The business must be in an eligible SIC code and activity area.
- The business should not have received more than 200,000 euros of State Aid assistance in the last 36 months.
- The business must have a minimum turnover of £50,000.
- The business must have the potential to increase turnover by a minimum of 15% per annum and/or increase employees by at least 5 FTEs in the next three years.
- The business must be able to commit to attending monthly workshops for at least 12 months.
- A matched contribution of £2,000 plus VAT will be required from participant businesses.
Exclusions include
Retail businesses, restaurants food and hospitality, accountancy, finance, legal, personal services, training and education, consultancy and other advisory services. Potential applicants can obtain more detailed information from relevant partners.
Lichfield Garrick trustees met this month to sign the official agreement to make Lichfield Garrick a Charitable Theatre Trust.
Lichfield District Council welcomed the Lichfield Garrick’s new theatre trust status.
