Funding Offered to Help Businesses Grow and Create New Jobs

Companies in East Sussex are being offered help to grow and create new jobs through East Sussex County Councils ESI4 Scheme, which is being delivered by Locate East Sussex.

This is the latest phase of a programme of business support that has already paid out around £4.5 million in grants and loans over the past three years.

The scheme is funded by East Sussex County Council and by loan repayments from previous funding rounds, which were backed by the Government’s Regional Growth Fund, and administered by business support service, Locate East Sussex.

Philip Johnson, Director of Locate East Sussex, said:

“The funds we can offer businesses in East Sussex will enable economic development across the county and I urge businesses to get in touch with the Locate East Sussex team to find out if they are eligible for a grant or loan to enhance their business in 2016.”

There are currently three funds made up of grants and loans that are available to businesses in East Sussex, the Business Growth Fund, the Upgrading Empty Commercial Property Fund and the Business Incubator Fund.

The Business Growth Fund provides annual funding of £1.3 million to support job creation. The fund provides grants and loans for growing micro, small and medium businesses to add to their workforce and build a stronger team, including an additional grant of £1.5k if an apprentice position is created.

The Upgrading Empty Commercial Property Fund is aimed at property owners that are planning to refurbish, upgrade or convert empty or underused commercial premises that have been empty for a minimum of 6 months. Funding can be in the form of a loan, equity share, percentage of rental income or viability gap grant which is decided on a case by case basis.

The Business Incubator Fund is a £1.5m fund to support the creation of a minimum of three Business Incubation Centres. Business incubator centres provide resources, space and an environment for start-ups and entrepreneurs to grow their businesses and applications will be considered on a case by case basis.

To find out more or to apply for any of these grants or loans, visit locateeastsussex.org.uk/funding, email enquiries@locateeastsussex.org.uk or call 0844 4159255 during office hours.