Representatives of businesses in Telford and Wrekin are being invited to discover how a share of £98m European funding could be spent to support business growth over the next seven years.
Graham Wynn, chairman of the Marches Local Enterprise Partnership (LEP),OBE, is inviting businesses to attend a breakfast event at the town centre’s Park Inn on Tuesday September 17. The event is being sponsored by Telford & Wrekin Council as part of it’s recently launched Invest in Telford programme.
The LEP – which incorporates Telford and Wrekin, Shropshire and Hereford – was advised by Government in June that its provisional allocation of funding for the seven years from 2014 to 2020 will be £98m.
.Mr Wynn, who is also chairman of the Telford Business Board, said: “Support for small to medium businesses is a key priority for the European Commission and the UK government.
“A significant part of the £98m of funding provisionally allocated to the Marches LEP is to be dedicated to business support, which is an acknowledgement of the importance of our businesses to economic growth and job creation.”
Invitations to the breakfast presentation are being sent to Telford businesses on behalf of the Marches Local Enterprise Partnership and sponsors Telford & Wrekin Council.
“We want businesses to tell us how European funding could help Telford businesses to grow. It is essential that our strategy for spending this significant amount of funding meets business needs,” added Mr Wynn.
“This is the first time that European funding is to be allocated at a local level and is part of the Government’s ongoing localism agenda.
“The Marches Local Enterprise Partnership is determined that its EU funding strategy will make a difference to the businesses and residents of Telford, Shropshire and Hereford.”
European funding can be used to support small to medium sized businesses whose customers are other businesses.
It can support research and innovation, help businesses become competitive, support the low carbon economy, use of ICT and employment and skills issues.
Local Enterprise Partnerships are currently preparing strategy documents for submission to Government in early October, setting out how they propose to use their funding allocations in order to achieve economic growth and create jobs.
Councillor Bill McClements, Telford & Wrekin Council’s cabinet member for Finance and Enterprise, said: “It is vital that we present a robust strategy to Government so that we are able to secure this significant allocation of funding for the benefit of the Marches LEP Partners.
