Chance to get a share of £1.4m with Green Shoots Fund
Businesses were today being given another chance to apply for a share of a £1.4 million fund launched by the Express & Star to help them grow.
The Green Shoots Fund, set up by the newspaper and the University of Wolverhampton, is accepting applications again from today. The scheme will be open until the end of January.
It offers grants worth up to £50,000 to small and medium-sized businesses based in Wolverhampton, Sandwell, Dudley or Walsall boroughs.
The money has come from the Government's Regional Growth Fund.
Business experts and university staff have been working on more than 160 bids received for grants this year.
So far, two businesses have already been confirmed as recipients.
Adams Enclosures in Brownhills will use a £50,000 grant to help create six jobs, including three at a senior level, as well as buying equipment.
Phoenix Cutting Services in Wednesfield is also receiving £50,000.
Seven people work for Phoenix at its site on the Planetary Industrial Estate and five of them are directors. The grant will allow a further two jobs to be created and help to fund an overhaul of vital equipment.
It expects to gain £270,000 in new sales against an annual turnover of £540,000 and wants to use the funding to buy a 2KW laser cutter.
More companies are currently having their bids assessed.
The Green Shoots Fund is particularly aimed at supporting advanced manufacturing, building technologies, transport technologies including aerospace, environmental technologies and business services. As well as the money, staff from the Wolverhampton Business Solutions Centre will be able to match applicants up with an appropriate expert for advice.
Successful companies and traders will be expected to match the funding they receive with their own financial commitment.
Express & Star deputy editor Diane Davies said: "It is important to support our local businesses and we are delighted that we can once again help with this fund."
The Green Shoots Fund is open to businesses with fewer than 250 employees.
The companies must be based in either Wolverhampton, Sandwell, Dudley or Walsall and pay their business rates to one of those local authorities.
The project is backed by the Black Country Chamber of Commerce and the Black Country Local Enterprise Partnership.
Businesses can log on to www.wolverhamptonbsc.com/greenshoots to apply.
