New West Lindsey fund aiming to help business growth

West Lindsey District Council has reallocated £150,000 from the former Gainsborough Growth Fund ‘Feasibility Grant’ to roll out a widened scheme to help businesses across the area looking at ways to expand and create new jobs.

Grants of up to £5,000 can be awarded to businesses, subject to 50% match funding to enable the delivery of a specific development project.

Leader of the Council, Coun Giles McNeill said: “We have listened to what local businesses need and that is why we are delighted to be able to offer this district-wide fund, which supports our Central Lincolnshire Local Plan Policy on ‘Delivering Prosperity and Jobs’.

“Funding schemes like this help give more certainty on the type of financial investment required and the funding strategy necessary to support business development prior to implementation, therefore reducing investment risks.

“By undertaking pre-development and feasibility work, applicants will be able to fully understand the project’s viability.

“We hope this will serve as a precursor to potential major business investment and growth in the district, and I am pleased the council is adopting this enabling role.”

Types of activities eligible for support from the Feasibility Fund include:

• Architectural fees to support master planning and site/building development

• Survey work undertaken by professionals in support of sites/premises development and planning

• Professional fees for feasibility work in connection with capital equipment and product development

Coun Owen Bierley, Deputy Leader of West Lindsey District Council and a member of the Feasibility Funding Pane, said he hoped businesses would embrace the offer.

For more information, email the Growth Team or complete the: Enquiry and Eligibility Form.

Visit www.west-lindsey.gov.uk/feasibilityfund