£6m up for grabs from steel body

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UK Steel Enterprise has launched a £6m scheme dedicated to supporting businesses in England’s steel regions.

The newly launched Equity Growth Fund has been backed by the government’s Regional Growth Fund.

A subsidiary of Tata Steel, UK Steel Enterprise is inviting applications from companies interested in accessing funds of up to £1m to help drive growth and deliver job opportunities within their local communities.

The finance will be available to support a range of projects, which can include securing larger premises, new equipment, new technology or to support working capital needs

The scheme is available in the steel regions of Tees Valley, Derwentside, West Cumbria, South Yorkshire, Humberside, The Black Country, Stoke-on-Trent, Chesterfield, Worksop and Corby.

This fund is the latest initiative from UK Steel Enterprise, which has helped more than 6,000 organisations to date, and continues the company’s tradition of investing in expanding businesses which can create jobs.

Keith Williams, UK Steel Enterprise Regional Manager, said the organisation was in a position to invest even more thanks to the backing of the government’s RGF scheme – an initiative that also aims to act as a catalyst for sustainable economic growth.

Mr Williams commented: “This new fund allows us to invest more money in a greater number of companies to support their expansion ambitions. Part of the fund will be aimed at young, early stage companies with high growth potential, while established companies can apply for amounts up to £1m.

“Businesses with a clear strategy to drive recruitment should get in touch.”