£90 million to be spent on UK’s coastal businesses

Businesses and entrepreneurs across Britain’s coast will soon be able to bid for a share of £90 million in Government funding.

This fund is part of the Government’s plans to help businesses in these areas thrive, with the first round of funding released in 2012.

Grants

£120 million has been invested in coastal areas through the fund over the past four years, and bids are now open for the latest round of funding until 30th June 2016.

A wide range of companies, including councils, coastal communities, private sector companies, social enterprises and voluntary and community sector organisations will be able to access grants of between £50,000 and £4 million.

Communities Secretary Greg Clark has urged coastal businesses and entrepreneurs to get involved, stating that the British coast has “enormous economic potential.”

Welcome

David Morris, MP for Morecambe and Lunesdale (one of the areas that will be covered), welcomed news of the funding.

He said that he is “delighted” that entrepreneurs are being provided with the opportunity to “flourish” through applying for the funding.

“I am delighted that this Government remains committed to coastal communities by announcing a new tranche of funding and the Government continues to recognise the unique barriers that can be there in a coastal area,” he said.