Lancaster City Council is encouraging local businesses to apply for grants of up to £150K under a scheme known as Accelerating Business Growth.
Accelerating Business Growth is operated across Lancashire by Regenerate Pennine Lancashire, as part of the government’s Regional Growth Fund programme to create economic growth and sustainable employment.
A number of local companies have won more than £200K from the scheme, and there are still opportunities for businesses to receive grants from £20K to £150K.
The scheme is open to growth businesses, such as those in advanced manufacturing, chemical, sustainable energy, digital and creative.
It is available for projects that will secure job creation and future growth, such as new product development, equipment, expansion and property improvements.
Lancaster companies that have received grants include Design Plus Packaging.
Following a £1m investment, the company was awarded a grant to invest in a further capital project, allowing it to appoint six new employees and purchase additional machinery and equipment. Coun Janice Hanson, cabinet member with responsibility for economic regeneration, said: “Many businesses are struggling to expand due to lack of sufficient finance to support their growth plans.
“Accelerating Business Growth offers an excellent opportunity.”