A new Pennine Lancashire initiative has been secured to provide support to people starting their own businesses and is set to support 300 new businesses and create 600 jobs.
The Pennine LEAP Programme managed by Regenerate Pennine Lancashire will bring £1.8 million investment into start-up support over the next two years and will run until Dec 2013. The project will receive £900,000 from the European Regional Development Fund and is targeted at high growth business starts.
Regenerate has been awarded the two-year contract to manage the scheme on behalf of the area.
The programme, which will be launched in January 2012, will focus on providing business coaching and mentoring support to individuals. Regenerate will support new businesses that have the potential to grow while creating new jobs and investment opportunities.
Dennis Mendoros, Chairman of Regenerate, said of the successful bid:
“We are pleased to be able to offer the LEAP programme, which will help hundreds of entrepreneurs get their new business off the ground and provide a great boost to the local economy.”
“The project builds on our successful business start up programmes but, in order to have maximum impact on the local economy, it will focus more particularly on the business starts which are capable of generating employment or growing their turnover quickly within the first few year of operation”.
Councillor Kate Hollern, Blackburn with Darwen Borough Council Leader, said:
“During these current difficult times, it is important that we do as much as we can to provide opportunities for people in terms of jobs, setting up their own businesses and changing careers. This is particularly relevant for our young people who are finding it hard to find work and the latest figures have shown the large number of people who are unemployed in the borough. The public sector as a whole has a crucial role to play.”
Brian Cookson, Executive Director for Regeneration at Pendle Borough Council, said:
“Regenerate’s successful bid for European funding will help create a broader selection of businesses and job types, providing new opportunities to unemployed people in Pendle and across Pennine Lancashire.”
