In the current economic climate, it is more important now than ever before that businesses with the potential to grow and succeed are supported in order for them to reach the next stage of development, create new jobs and contribute to the local economy.
The vital contribution that smaller businesses make to the overall growth ambitions of the county is one of the main drivers behind Northamptonshire County Council’s launch of the Northamptonshire Innovation and Enterprise Fund (INV-ENT). The unique project, which was unveiled at last week’s Business Summit, is being jointly delivered by Northamptonshire Enterprise Partnership, and will provide a business rate rebate of up to £20,000 to SMEs in the Northamptonshire.
INV-ENT is open to all SMEs in Northamptonshire - however, the principle focus is businesses in high-growth and advanced technology-led sectors, including the development and application of advanced and high performance technologies. Applications from other business sectors will be considered, especially where there are significant outputs and a strong commitment to job creation.
The County Council has allocated an initial £300,000 for this initiative in 2011/12. Successful applicants will be required to re-invest the INV-ENT rebate on their business rates to stimulate growth and innovation through activity such as expanding business premises, undertaking innovative R&D activity, investing in new technology, or employing new staff to increase production.
A number of businesses within the county are set to benefit from this innovative scheme, which is another example of the commitment Northamptonshire is making to support local enterprise, placing the county on the UK map as a good place to invest and do business. This is part of a much wider prosperity agenda being supported by the County Council and delivered by Northamptonshire Enterprise Partnership.
Applications are now open for eligible businesses to apply for the funding with the closing date for submissions on 25th November at 5pm. For more information and to download an application form, please see: http://www.northamptonshireep.co.uk/INV-ENT
