Fund to boost local business

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LOCAL businesses looking to boost their cash flow can bid for additional investment as the fourth round of the Regional Growth Fund (RGF) opens.

The government programme – designed to support economic growth and sustainable employment – has made £350m worth of funding available in its fourth round, and with support from Wigan Council, local businesses can place their bids.

The Regional Growth Fund will have pumped £2.6bn worth of funding into the economy by the time it completes in 2016.

A total of 21 North West business projects secured £77m of funding from the third round of the programme, which is being used to create or safeguard a total of 20,000 jobs.

One such company was C-TEC – an independent manufacturing company based in the Wigan borough – which received a total of £1m.

Wigan council is offering support with the RGF bidding process to any local businesses.

Wigan Council Deputy Leader, Coun David Molyneux said. “The Regional Growth Fund is proving to be a welcome boost across the borough and is helping to create and safeguard jobs and expand businesses into new markets.

“Boosting jobs and business growth is our number one priority for borough - so during the next round of funding, we will be working with local businesses to produce high quality bids and give them the best possible chance of accessing the money they need to achieve this.”

Applications for round four of the RGF will close at midday on Wednesday March 20 2013, and the minimum threshold is £1m.

All RGF applications must initially be discussed with Wigan council’s Economic Development Team who can be contacted on 01942 489182.

The team also provides advice and support with completing the bidding process.