Financial help is on offer to local businesses which are looking to expand.
Up to £25,000 can be claimed from the Grants 4 Growth project being operated via South Holland District Council.
The project is managed and delivered by the council’s Inward Investment Service.
The European money is available to eligible businesses which are helping the region’s economy.
It has been established to help small and medium-sized businesses.
“The decision making process is very quick – within ten days. It offers a 28 per cent intervention and is designed to help business growth,” said Justin Leckie, of the Grants4Growth team at South Holland.
Pinchbeck-based company A. S. Whitaker and sons has increased its turnover after receiving a grant.
The money was used to help buy equipment.
The company, established in 1920, is a multi-site group specialising in vehicle bodywork repair.
“Our main focus was to build our capacity so we could take on more work. We knew we needed to invest significantly in new machinery which, in turn, meant we would be looking to introduce more employees to the business,” said partner Phil Whitaker.
“It only took a couple of weeks from sending in our application to getting the nod that we had been successful,” he added.
“The grant has given us the chance to grow and expand into new markets, improve our efficiency and create local jobs,” said Mr Whitaker.
The initiative is open to companies with less than 250 members of staff.
“The money is aimed at companies which need a piece of kit, for example, which will allow it to grow and develop new markets,” said Mr Leckie.
The grants are for capital outlay and cannot be used for running costs, salaries, buying stock or computer hardware or software.
Businesses in agriculture and horticulture are among those which are not eligible as, said Mr Leckie, there are other funding streams appropriate to those areas of commerce.
“It is aimed at manufacturing-type industry, where investment in a particular piece of equipment would make all the difference,” he said.
Businesses within the Greater Lincolnshire area are able to apply for a grant.
For more information contact Deborah Futter on 01775 764813 or see the website http://grants4growth.sholland.gov.uk
