Good news for smaller business as the European Commission has confirmed details of funding under the England Operational Programme for 2014-2020.
The programme includes an allocation of €3.6 billion from the European Regional Development Fund (ERDF). Around 40% of the funding will be allocated to support small firms to enhance their competitiveness and to help them to grow. This is expected to result in 65,000 smaller firms receiving business advice and support by 2023. Statistics show that businesses who receive advice are much more likely to succeed and become sustainable. The remaining funding will be used to focus on a range of more specific priorities such as strengthening innovation and research and technological development (RTD). Commissioner for Regional Policy Corina Creţu said: "The programme we have adopted today for England complements the efforts already made for locally driven growth. The investments are strategic and targeted on key growth generating areas."