A Boston trenching firm hopes to be able to get a 20 per cent boost in turnover thanks to a £20,000 business grant.
Mastenbroek became the first Boston firm to receive funding from South Holland District Council’s new Grants 4 Growth programme.
The money will be used to offset the cost of purchasing a vertical turning and milling centre, which will help the company achieve a 20per cent increase in turnover, estimated savings of £4,120 on energy per year, in addition to creating three new jobs.
Councillor Howard Johnson, economic development portfolio holider, said: “We’re thrilled to have awarded Mastenbroek £20,000 in grant money, making them one of the first businesses in the region to take advantage of the funds available
“The whole idea behind Grants 4 Growth is to help increase competitiveness and sustainability in the county by offering financial support to small to medium sized businesses (SMEs) in the form of funding that helps create the right conditions for growth.”
Christopher Pett, general manager for Mastonbroek, said: “Receiving these funds from Grants 4 Growth has helped us tremendously. We’d been considering the idea of installing a vertical turning and milling centre for about a year, but were hesitant to invest before learning about the funding opportunities available through Grants 4 Growth.
“We decided to apply, and the entire process took just about a month to complete, from filling out the initial application to a final decision. In fact, it’s been one of the quickest ways for us to secure money to help our business grow. Not only has it allowed us to save thousands of pounds on energy utilities, but we were also able to create three new jobs to help stimulate the local economy.”
Funded by the European Regional Development Fund, Grants 4 Growth offers eligible investment ready SMEs across Lincolnshire the opportunity to access £1 million in capital and revenue grant funding.
For more information and to check eligibility, visit www.grants4growth.org.uk, email firstname.lastname@example.org or call 01775 764412.