Regional Growth Fund
The Regional Growth Fund is a discretionary £1.4 billion Fund that was to initially operate for three years between 2011 and 2014. However the chancellor announced in November 2011 that “the Government will increase the Regional Growth Fund for England by £1 billion, and extend it into 2014–15, to provide ongoing support to grow the private sector in areas currently dependent on the public sector.” The Fund’s aim is to stimulate enterprise by supporting projects and programmes with significant potential for creating long-term private sector led economic growth and employment; and helping areas and communities that are currently dependent on the public sector make the transition to sustainable private sector-led growth and prosperity.
The Fund encourages private sector enterprise, including social enterprise, to create opportunities for people and places to adjust to reductions in public spending, and enable private sector investors, business, the public sector and communities to come together with an overall.
Who Qualifies?
Bids will be accepted from private bodies and public private partnerships across England on a challenge basis. We envisage bidding partnerships that include a combination of private sector players, SMEs and social enterprises coming together with public partners. In particular it is expected that Local Enterprise Partnerships will both bid to the Fund and play a role in coordinating bids across areas and communities.



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