Funding round launched for firms looking to grow

A funding round is being launched for businesses in Cornwall and the Isles of Scilly that are looking to grow.

The funding, awarded by the UK Shared Prosperity Fund as part of the Cornwall and Isles of Scilly Good Growth Programme, is available to "enterprises with the ambition and capacity to grow", Cornwall Council said.

The grant scheme offers funding from £20,000 to £200,000 and businesses are required to match the grant with their own investment, the council said.

Cornwall and the Isles of Scilly have been allocated £184m for local investment over four years.

The funding is available to all businesses in Cornwall and the Isles of Scilly with growth ambitions, but the council said priority would be given to projects from sectors identified as targets for investment, such as critical minerals, renewable energy, marine, and aerospace.

Projects that focused on improving the quality of year-round employment in the county would also be considered, the council added.

Louis Gardner, the local authority's portfolio holder for economy, said: "A key priority for the Good Growth Programme is supporting local business, which aims to create jobs, stimulate innovation and increase private sector investment in growth.

"The growth hub has a central role to play in achieving these objectives, by helping businesses access funding, support and training, and we are delighted to see this continue."

In the past 18 months, the growth hub has worked with more than 1,600 businesses to help them access the right support, training and skills development to achieve their growth ambitions.

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