News release from 05/07/2021

New fund launched for growing businesses in South Cambridgeshire

New fund launched for growing businesses in South Cambridgeshire

A new grant scheme has launched for South Cambridgeshire (Monday 5 July 2021) based micro and small to medium sized businesses looking to scale and grow.

The Growth Fund scheme, using funding provided by Government, is designed to support businesses’ growth and expansion plans in the district. Eligible applicants for the scheme must be South Cambridgeshire based start-ups who are looking to scale and grow quickly, or they can be established South Cambridgeshire based companies who can clearly demonstrate ambitious growth plans in the District. Businesses in any sectors can apply, including, sole traders and partnerships. One- off grants of between £1,000 and £50,000 may be awarded to successful applicants.

Cllr Peter McDonald, Lead Cabinet Member for Business said: “As Government Coronavirus restrictions ease, the Council is keen to support businesses from all sectors that may have put their growth ambitions on hold during the pandemic and help businesses recover and thrive in the District.

“The Growth Fund scheme is aimed at supporting local micro and SME businesses, with plans to expand. The scheme is open to businesses from all sectors affected by local and national restrictions. In particular, we will be prioritising those who were ineligible for the rate paying schemes such as the Local Restrictions Support Grant and Restart Grant. We also really want to encourage businesses with strong green credentials to apply, to kickstart a green pandemic recovery in South Cambridgeshire.”

The scheme will end when all funds have been allocated.