Millions invested in Lancashire businesses

A Lancashire business support company has committed £3m to local businesses in the last year, which will create 519 local jobs and safeguard a further 504.

The funding is available through Regenerate Pennine Lancashire following a successful £7.5m bid for support from the Government’s Regional Growth Fund (RGF). The resulting programme, Accelerating Business Growth (ABG), has helped nearly 50 small to medium sized businesses since it was launched in August 2012.

The non repayable grants are available for projects that help businesses become competitive and take on staff, such as the purchase of machinery or improvement of property.

Dennis Mendoros, chairman of Regenerate and managing director of Euravia, said: “ABG is designed to meet the needs of local small to medium enterprises, enabling them increase their output which can help them compete on a national and international basis. We’re nearly halfway through this programme, so urge businesses not to leave it too late and take advantage of the funding while it is available.

“Regenerate is currently the only organisation in Lancashire that can provide RGF grants between £5k and £1m through this and its other RGF funded programmes.”

In the last year, Regenerate has made successful bids within two more rounds of the RGF. The company received another £4m to support capital investment in new and early stage businesses (the Fuse Fund programme delivered in partnership with Lancashire Business View) and £5m to support larger growth projects across Lancashire. Businesses can find out more and apply at www.regeneratepl.co.uk