Reminder from Focus Consultants that new round of Regional Growth Fund is open for bids

Funding experts at Focus Consultants are reminding firms and private sector organisations that the deadline for submitting applications for the latest slice of a £3.2 billion pot of grants is fast approaching. 

Round six of the Government’s Regional Growth Fund, which aims to create economic growth and sustainable employment in England, is currently open for bidding. 

But with the deadline of 30^th September for applications only weeks away, companies and organisations are being urged to put together their bids now. 

Associate at Focus, Heather Frecklington, said: “Focus has supported a number of clients to secure investment from the Regional Growth Fund, with successes in both Rounds four and five.  This includes helping to secure more than £4 million of funding for manufacturer Bifrangi to develop a research and development centre in Lincoln. Focus worked closely with Bifrangi to develop their funding application, ensuring that the project demonstrated value for money and would support employment and training opportunities in the local community.” 

The Regional Growth Fund (RGF) is a £3.2 billion fund, which aims to help companies throughout England to create jobs between now and the mid-2020s. It supports projects and programmes that are using private sector investment to create economic growth and sustainable employment. So far £2.9 billion has been awarded to almost 400 projects and programmes which are expected to deliver 573,000 jobs and £16 billion of private sector investment. 

Focus Consultants, which is based in Nottingham and has branches in London, Leicester, Boston and Aubourn in Lincolnshire, specialises in helping organisations access funding opportunities and offers support right through to project completion. Since being founded 20 years ago, in 1994, the firm has helped to secure more than £925 million of grant assistance for a range of projects and businesses across the UK and delivered more than £1.0 billion worth of projects and programmes – making it one of the most successful businesses of its kind in the country. 

“The current round of RGF funding opened on June 19^th,” said Heather. “Funding is focused entirely on private enterprise proposals and is available for high quality projects that can generate significant private sector investment and create sustainable jobs. The minimum bid threshold is £1 million.” 

As a multi-disciplinary consultancy, Focus offers support at all stages of the RGF process – from the initial concept and applying for funding through the design and development stage to project managing the works. 

For more information visit www.focus-consultants.co.uk

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Regional Growth Fund – an opportunity for the East Midlands

Now is a crucial time to act if the East Midlands is to put in bids for a share of the government’s Regional Growth Fund.

That’s the message from Elly Fletcher, associate at leading economic development firm, Focus Consultants.

The North West and North East of the UK swept up in the first two funding rounds of the RGF, with cities like Liverpool and Leeds attracting multimillion pound investments.

Now, with the opening of the third bidding round and a further £1b of funding available, the East Midlands is hoping to take its share of the cash.

“RGF offers big money - £1m minimum investments into projects that promise, first and foremost, to create jobs,” said Elly. “In fact it’s all about jobs and money – the more private sector jobs and investment the better for RGF. Government wants to see the private sector mobilising itself to create ‘economic growth and sustainable employment’. “

Focus Consultants, which has offices in Leicester, Nottingham, Lincoln, Boston and London, has an economic development and funding team that works to secure grants for projects.

Elly believes there are a number of issues that businesses and partnership teams bidding for the latest RGF funding should consider to maximise the current opportunity.

“Projects that can show a direct and positive impact on the local economy will stand the best chance with the government panel,” she said. “If you can demonstrate that your project will create lots of jobs and act as a catalyst to attract significant private sector investment, you will certainly be in a good place.

“RGF is all about local economic growth, so it is important bids demonstrate and react to the specific needs of the local area. Bids should be framed around a case for support - why is RGF needed here? Think local and consider the future impacts.

“RGF funding needs to be committed and spent by 2015 so if you have a project ready to go that you think fits the fund criteria and is in an advanced state of development, you could have a strong chance of success. It’s important to be realistic, however. Yes, this is a big pot of cash but projects must bring with them large sums of private sector investment – ideally a 6:1 ratio. Don’t invest time and energy in putting a bid together if you can see no route through to the private sector match.”

But with the deadline of June 13th for bids fast approaching, businesses and partnerships in the East Midlands are being urged to act now.

“In today’s economic climes, with economic development funds few and far between, RGF is without doubt an opportunity to be taken seriously,” said Elly.

Focus Consultants specialises in creative approaches to securing funding packages and delivering high quality projects across the UK.

Since its creation in 1994, Focus has secured over £800 million of grant assistance, and delivered more than £1b of projects and programmes - including enterprise support, innovation, culture, health, regeneration, affordable homes and energy carbon sustainability projects.

www.focus-consultants.co.uk

Issued by Nottingham PR company Perfect 10 PR www.perfect10pr.co.uk