Cornwall’s productivity gap against the rest of the UK is well documented (32% below the UK average) and the county is bottom of the 37 Local Enterprise Partnership in terms of productivity output.
A new £3.1 million grant fund launched to help small and medium sized businesses in the county to boost their productivity is therefore seen as welcome news.
BIG (Business Investment for Growth) Productivity offers grants from £2.5k to £150k to qualifying businesses. It can meet up to 45% of project costs for small business and up to 35% for medium sized businesses. The funding can be used towards a broad range of expenditure types providing it supports growth and improves productivity. The exceptions to this are business as usual activities and salary costs.
The BIG Productivity programme aims to support 175 local businesses and create 175 jobs over the next 2.5 years. Applications will be invited via a website (currently in production) but in the meantime, applicants can receive more information and register their interest by email to BIGTeam@cornwalldevelopmentcompany.co.uk