Cash for small businesses to grow and create jobs
Small businesses across the county are being given a boost as we're investing £947,000 as part of a £18.9m funding pot to help them develop, create jobs and grow.
We're working alongside several other organisations to provide help and support ranging from grants to help small businesses start-up and funding for established firms to buy new equipment to face-to-face advice for businesses spelling out other types of funding they could be eligible for and how to apply. Projects include:
D2 Business Starter Programme − A £410,000 partnership between us and Derby City Council to provide a series of eight-week courses and one-to-one support for people across Derby and Derbyshire thinking of starting a new business. The workshops will explain the basics of self-employment and business practice as well as how to develop a business plan. We've contributed £270,000 and the city council £140,000 towards the scheme which is being run by East Midlands Chamber of Commerce.
D2 Enterprise Growth Fund − We've contributed £600,000 as part of the £11.2m D2N2 Growth and Innovation Programme. The fund will project to provide grants of more than £50,000 to help businesses in Derby and Derbyshire expand and create high quality, long-term jobs. Firms can apply for funding to help them expand and grow. Derby City Council, the European Regional Development Fund and the Government's Regional Growth Fund have also helped fund the project which is being run by the city council and East Midlands Business Limited.
D2N2 Growth Hub − We're investing £36,000 alongside £36,000 allocated to the D2N2 Local Enterprise Partnership from the European Regional Development Fund to expand the existing D2N2 Growth Hub which offers advice to small businesses in Derby, Derbyshire, Nottingham and Nottinghamshire. This funding will help enhance the existing business advisor network to support small businesses across Derbyshire with issues like finding a good supplier, business strategy, identifying what help they need to grow and expand and highlighting what other funding they might be eligible for.
D2N2 Digital Business Growth Programme − A £7.2m project will help businesses in Derby, Derbyshire, Nottingham and Nottinghamshire to make better use of digital technology to expand their businesses. It builds on the Digital Derbyshire project to roll out fibre broadband to homes and businesses across the county The scheme is being funded by us and we're contributing £41,000, together with Nottinghamshire County Council, Nottingham City Council, Derby City Council, Rushcliffe Borough Council, Nottingham's Creative Quarter Company, East Midlands Chamber and the European Regional Development Fund.
A further £1.1m 'Invest in D2N2' project has also been launched with £90,000 from us to attract businesses to Derbyshire and promote the county as a place to invest.
Councillor Anne Western, leader and cabinet member for strategic policy, economic development and budget, said:
"Building a strong Derbyshire economy is one of our top priorities and small businesses play a key role in making our economy tick.
"We know times are tough for small businesses and they may be nervous about taking that next step to expand and grow. That's why we're working with partner organisations to provide the necessary support and funding to give local businesses a leg-up and set them off on the road to creating more jobs across the county."
For more details about each scheme and how to apply visit D2N2 Growth Hub (opens in a new window)