A Nottinghamshire furniture manufacturing company will receive grant funding toward a £100,000 equipment upgrade, to expand its business and create new jobs, after its bid was supported by the D2N2 Local Enterprise Partnership’s rural funding programme.
Sylvan Enterprises of Pleasley Vale Business Park, Mansfield, has been designing and manufacturing furniture for the hospitality and hotel sector for more than 20 years. Clients include the Accor, IHG and Eclectic hotel chains.
As part of a £100,000 investment in new manufacturing equipment Sylvan Enterprises will now receive £40,318 through a Department for Environment, Food and Rural Affairs’ business grant programme. Funding will be used to buy a CNC machine – Computer Numerical Control (CNC) machining uses computers to more efficiently control lathe, mill and grinder machine tools – and other new equipment.
This programme is funded through the European Union’s European Agricultural Fund for Rural Development (EAFRD); managed by the D2N2 Local Enterprise Partnership and partner business organisations in the LEP’s area of Derby, Derbyshire, Nottingham and Nottinghamshire.
Having received an EAFRD application from Sylvan Enterprises, D2N2 backed the Mansfield company’s application; which forecasted that the factory equipment upgrade would enable it to secure another £200,000 worth of business and create two extra jobs.
Amanda Page, Commercial Director at Sylvan Enterprises, said: “Purchasing a new CNC will have a massive positive impact on the business, and allow us to grow and be more competitive in what could be uncertain times for small businesses in the UK.
“Being awarded this grant has allowed us to do this sooner rather than later, be proactive rather than reactive and make a real difference to the business.”
Lindsay Allen, D2N2 Senior Programme Manager for Sector Development, added: “Businesses such as Sylvan Enterprises provide vital employment opportunities for communities in more rural areas. A well-balanced economy is one which reaches all areas, rather than just being focused around urban conurbations.
“Funding through the European Agricultural Fund for Rural Development can make a big difference to such businesses, enabling them to grow and take on additional staff. Grants from £35,000 upwards are available.”
The D2N2 LEP has access to more than £5million in EAFRD funding, (through its wider €250m in European Structural and Investment Funds ), which is being made available to fund projects helping rural communities in Derbyshire and Nottinghamshire over a six year period (2014-2020). Previous D2N2 events held to raise rural businesses’ awareness of this funding have included a 2015 Rural Conference (pictured above).
During 2017 the D2N2 Growth Hub and its business partners will hold regular events to publicise EAFRD and other funding available to rural communities. For more information see the D2N2 LEP website link at www.d2n2lep.org/Growth/Rural-Economy . New calls for grant support are also set to be launched in January 2017.
For more information on the work of the D2N2 LEP see its website at www.d2n2lep.org/EUFunding and to learn more about the D2N2 Growth Hub go to www.d2n2growthhub.co.uk/
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