A SHARE of £350,000 is up for grabs to Worcestershire businesses in helping them to expand.

Grants are available as part of the Worcestershire Expansion Programme scheme, which is being managed by Worcestershire County Council on behalf of the Worcestershire Local Enterprise Partnership.

The scheme provides funding for physical expansion, buying capital equipment and to support training, research and development projects.

The aim of the grants, which are funded by the Government’s Regional Growth Fund, is to enable companies to realise their growth potential and to strengthen their position in the market as well as lever in private investment, safeguard jobs and to significantly contribute to increasing productivity and growth.

Peter Pawsey, executive chairman of Worcestershire Local Enterprise Partnership, said: “This funding provides excellent support for businesses that are looking to grow.

“As the first two funding rounds have shown, these grants have helped our local businesses, successfully levered significant private sector investment and safeguarded jobs across the County and this round of funding provides a further final opportunity.”

Worcestershire Expansion Programme allocated more than £2 million in the first two funding rounds assisting the growth of 15 local businesses, levering more than £13 million of private sector funding and is expected to safeguard 134 jobs.

This latest 'quick win' round is expected to safeguard an additional 180 jobs within the county and should also secure several million pounds of private sector investment.

County councillor Simon Geraghty, cabinet member for economy, skills and infrastructure, said: “This funding will benefit our businesses and the local economy in the years to come.

“Applications will be assessed swiftly as they are received to support businesses as quickly as possible.

“However, funding is limited and so I would urge businesses who are interested to apply early ahead of the closing date to ensure they don’t miss this final chance to access this funding.”

The deadline for applications, where projects must clearly show evidence of spend before March 2015, is 5pm on Friday, December 12.

For more information, or to apply, visit business-central.co.uk/wep