MILLIONS of pounds in funding has been granted to support growing businesses in the Solent region.
With the help of a consortium led by the University of Portsmouth, the money will be awarded through a scheme supporting innovation, growth and enterprise.
It will provide funding, advice and training for small and medium enterprises.
Through increased and better access to grants, education and training, businesses will be able to grow and develop across the region.
Funded by the Regional Growth Fund, made available when Solent obtained City Deal status last month, Portsmouth and Southampton will be allowed to develop key areas in both cities and provide jobs, hobs and boost economic growth.
Jimmy Chestnutt, chief executive at Hampshire Chamber of Commerce, said: ‘Navigating and accessing the complex landscape of business support available from both government and private sector sources can be tricky.
‘Through pro-active engagement with businesses and working with investor networks we can help high growth businesses achieve growth and create jobs.’
The scheme is made up of two propositions.
The first part will see the University of Portsmouth Business School provide direct support to help overcome barriers for growth through vouchers from £50 to £150,000 available to help access external finance and support capital investment.
The second proposition, led by the Hampshire Chamber of Commerce, will see the creation of a Business Growth Hub designed to deliver expert advice to organisations on how to obtain funding, training and other support.