Derbyshire Economic Partnership (DEP) − backed by the county council − has been provisionally awarded the support from the Government's Regional Growth Fund.
It is part of a nationwide pot of £506m which was announced today (July 11) and would be used to fund DEP's new Global Derbyshire Small Business Support Programme.
The programme plans to offer grant support covering up to 50% of investment costs of small and medium sized Derbyshire businesses which are seeking to grow, collaborate, innovate and export to create new employment for local people and attract inward investment to the county.
Councillor Joan Dixon, Cabinet Member for Jobs, Economy and Transport, said:
"This is tremendous news for Derbyshire and the thousands of small businesses which are the economic backbone of the county. The new programme will help to create jobs for Derbyshire people and allow businesses to expand and seek new markets both at home and internationally. We are committed to promoting economic growth and we look forward to working with DEP in delivering such a timely and exciting scheme."
The Global Derbyshire Small Business Support Programme will support companies to ensure they can access and thrive in global markets.
Grants will focus on four key strands:
Richard Horsley, Derbyshire Economic Partnership Chairman, said:
"Today's announcement fully justifies the continued work of the Derbyshire Economic Partnership and our faith in retaining the county's collaborative approach to driving growth. The programme will further build upon the excellent track record of collaboration between the private and public sectors we have enjoyed for so long in Derbyshire."
Detailed plans will now be submitted to the Government for approval. It is expected that the Global Derbyshire Small Business Support Programme will be launched in the winter, with funding available until March 2015.
For further information on the Government's Regional Growth Fund please visit: www.gov.uk/understanding-the-regional-growth-fund (opens in a new window)
