A new £1.5m fund will help small businesses and their supply chains adapt to the new economic and regulatory landscape.

The West of England Combined Authority’s new Business Growth and Adaptions Grant is now open for applications. It will help small to medium enterprises (SMEs) buy new products and equipment to help increase production and enable growth with funding of up to £30,000.

Patricia Greer, Chief Executive of the West of England Combined Authority and Local Enterprise Partnership, said: “This new money from the Combined Authority will support employers to better equip themselves for future growth in the changing business landscape.

“The Business Growth and Adaptions Grant will help small and medium-sized businesses purchase and implement new products and equipment, so they can increase production and drive business growth and expansion – which may lead to more jobs for people in the West of England. The funding can also be used to adapt current business operations or bring in new ones.”

There are two funding streams available: £6,000 to £10,000 and £10,001 to £30,000.

Businesses will need to be able to provide at least 20% match funding and the project they are requesting funding for should support their operations or processes to maintain or increase their turnover.

The new grants are part of the £10m Regional Recovery and Adaptions Fund agreed by the West of England Combined Authority Committee in April.

All applications will be assessed after the application window closes on 24 August at 12 noon.

For full details, including eligibility criteria and guidance, please visit the Business Growth and Adaptions webpage.

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