The Solent Local Enterprise Partnership has made nearly £2m available in business grants. Organisations from Portsmouth, Gosport, and Havant areas will be given the opportunity to apply for grant funding in two categories and nearly £1m will be available to at least 50 businesses in each of these categories.

Grants of up to £950,000 will be provided to the best new business ideas and the same amount will be made available for the best growth proposals. The scheme aims to assist at least 100 businesses and executive lead for the Solent LEP, Anne-Marie Mountifield has estimated that the new funding should help to safeguard at least 75 jobs and create 125 new jobs. Schemes like this can be found throughout the country, offering new businesses especially, the chance to enjoy additional funding.

Small business success is seen as a key driver in the economic recovery of a region and so these funds are being used in a bid to help kick start the faltering Solent area; an area where business startup rates fall well below national averages.

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