Grants scheme boosts South Yorkshire business

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Companies in Sheffield stand to gain from a £25 million funding boost for business – which could create or safeguard 1,900 jobs.

Sheffield City Region Local Enterprise Partnership has secured the money from the Government’s regional growth fund.

Grants of at least £100,000 are being made available to companies to help them fund their own growth plans – on condition the firm provides at least three times more funding in addition.

Some 27 companies have applied for help from the LEP.

Coun Leigh Bramall, Sheffield Council cabinet member for business, skills and development, said: “It is great news we have managed to secure this funding and the economy should benefit from it greatly.”

Companies needing under £100,000 or more than £2 million are being asked to make applications to the Department for Business, Innovation and Skills.

An LEP spokesman said: “Businesses will be asked to show that they have achieved certain milestones – for example they’ve created an agreed number of jobs.”