New business grant scheme set to supercharge local economy

11:05, Wednesday, 8th February 2023

A new grant scheme will enable businesses to supercharge digital growth and become more sustainable – fuelling the local economy and safeguarding jobs.

The cash is from the first round of the Government’s UK Shared Prosperity Fund, with grants of up to £5,000 available for companies to invest in new technologies or cut their carbon footprint.

The grants were announced by North Lincolnshire Council leader Rob Waltham at a business breakfast held at the Baths Hall, Scunthorpe, today.

He said: “This Government cash will enable many business leaders across North Lincolnshire to future-proof their companies by investing in the technology they need to create and secure jobs.

“Digitalisation is critical – adapting to and harnessing new technologies enables businesses to grow and expand at pace.

“And, or course, we are all working towards a greener, cleaner future so we’ve created another cash pot that businesses can tap into to make the transition that little bit easier.

“Simple things for some small businesses can make a big difference, just replacing light bulbs with LEDs or buying the newest appliances can slash energy bills and reduce carbon emissions.”

The Sustainability Business Grant can be used to invest in energy production infrastructure such as solar panels or biomass boilers and building improvements including insulation and heat pumps.

It can also be used to buy energy efficient products including LED lighting and low energy equipment such as fridges and dishwashers.

The Digital and Marketing Grant is aimed at companies looking to invest in new technology.

This can be everything from cutting-edge hardware and software, upgrading internet connections, buying e-commerce equipment, and paying for marketing campaigns or consultancy costs.

Businesses of all sizes are eligible to apply for the grants, with the minimum award being £500.

This latest grant programme is part of the council’s pledge to deliver on the levelling up agenda while focusing on the A Green Future strategy – enabling the local economy to grow, protect and create new jobs while building a greener, more sustainable North Lincolnshire.

The UK Shared Prosperity Fund is part of the Government’s Levelling Up agenda and aims to provide £2.6 billion of funding for local investment across the UK by March 2025. The fund aims to boost productivity and tackle inequality.

For more information on the grants, including eligibility criteria and application forms, go to the Invest in North Lincolnshire website.

Photo: Business leaders, including Cllr Waltham (front row) hear details about the new grants