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Kings Coughton company receives grant to grow
10:40am Wednesday 29th January 2014 in News
A KINGS Coughton company has benefited from a grant scheme for small rural businesses organised through Coventry and Warwickshire Local Enterprise Partnership (CWLEP).
Angstrom Engineering which operates from the Mill Industrial Park in Kings Coughton received a grant of £20,000 through the Rural Growth Network Awards, which are now in their second round of bidding.
The company, which manufactures press tools, working with companies like Jaguar Landrover, was delighted with the grant money.
Graham Smith, managing director at Angstrom Engineering said: “It’s quite encouraging that we’ve been able to get some assistance from the government. We’ve had some help and it’s been very good. It’s allowed us to invest in better quality technology than we would have been able to afford. Business has been particularly good recently, and the grant enabled us to invest in some high technology kit which will ensure we’re up to date and able to compete in the market. We’re also hoping to create one or two more jobs from it.”
The £500,000 scheme is jointly funded by the Department for Food and Rural Affairs and the European Union via the Rural Development Programme for England, and is part of Warwickshire Rural Growth Network.
It aims to help micro businesses across the country, operating in manufacturing, digital media and low carbon sectors in rural areas.
Councillor Izzi Seccombe, leader of Warwickshire County Council and CWLEP board director, said: “CWLEP’s strategy is to stimulate the rural economy and the Rural Growth Network grant funding is helping to achieve this.
“The grant scheme is part of a wider package of support including specialist advice, one-to-one mentoring, coaching, loans and property. With funding still available via the Rural Growth Network and a range of other local enterprise partnership programmes, we would encourage any rural business to contact us to find out how we can help.”
So far 13 projects in Warwickshire have received grant funding of between £10,000 and £100,000 for eligible projects.
For more information about the Rural Growth Network visit warwickshire.gov.uk/ruralgrowthnetwork or call 01926 412709.