Business Booster Grants and Training Voucher Schemes available to Herefordshire Businesses

Another chance to boost business enterprise

Local businesses are being invited to apply for grants which could enable them to buy equipment, modernise the way the way they work or diversify their product range.

Herefordshire Business Board has announced that the Business Booster and Training Voucher Schemes will again be available to help local businesses through the continuing tough and challenging financial times.

“We have allocated funds to support these schemes for another year due to their effectiveness in providing businesses with the financial support necessary to achieve a variety of goals. These have included job creation, increase in turnover and bringing new products to market,” said Neil Kerr, chairman of the Herefordshire Business Board.

“The aims of the two grant schemes have been tailored to deliver the aspirations of the Herefordshire Business Board and we are pleased to enable these schemes to be delivered during a time when public sector grants and funds are limited,” added Mr Kerr.

The Business Booster Grant is a capital grant scheme: it can be used to support the growth or diversification of existing micro, small and medium sized businesses through a range of initiatives including the purchase of capital equipment, the modernisation of facilities or the ability to create or enhance a website.
Successful applications will be offered a grant of between £250 and £4,000, which will have to be match-funded by the applicant paying up to 50 per cent.

The scheme will be delivered in two tranches, with the first deadline for applications of September 23rd at 4pm. A decision will be made about the timing of the second tranche once the interest in the first round has been established.

The Training Voucher Scheme provides financial support for businesses to send employees on training that will make a difference to the viability or diversification of the business. This can include support for new starters, personal development, vocational/specialist training or enabling employees to move to a new role, this is particularly suitable for training a group of staff or for more innovative training approaches.

Successful businesses applying to the scheme will be offered a training voucher up to a maximum of £750, which will have to be match-funded by the applicant paying a minimum of 25 per cent.
The finance behind these schemes has been provided by Herefordshire Council as part of its ongoing support to assist the growth of the local economy.

“We understand the importance to small businesses of being able to access finance in what continues to be a tough financial climate,” said Cllr Roger Phillips, cabinet member for economic development.
“These schemes award small amounts of money but are significant in what they allow the businesses to achieve and the employment generation they have created; they represent very good value for taxpayer money,” he added.

Application Forms can be found by visiting: http://www.herefordshire.gov.uk/business/business_support/90.asp

Businesses looking for further information about these opportunities should contact Herefordshire Council’s economic development team on 01432 383633.