Multi-million pound business grants unveiled at launch of ambitious economic plan for Norfolk

Grant programmes to provide much-needed financial support to businesses across Norfolk have been announced at the launch of an ambitious five-year economic blueprint for the area.

The Local Growth Plan and new grants were launched at an event hosted by the Norfolk Business Board, held at the Norwich Playhouse.

A new £1.1m Business Growth Fund will offer businesses grants of between £5k and £50k, funding up to 30% of each proposals. Meanwhile, the £1.2m Made Smarter Adoption programme for the East of England will provide a welcome boost for the advanced manufacturing and engineering sector with grants of up to £20k, funding up to 50% of successful projects.

The investment will support Norfolk's new Local Growth Plan, which seeks to put the county at the forefront of the UK economy and build on Norfolk's influence in key sectors like clean energy and agri-tech, and cutting-edge research.

Nick Steven-Jones, chair of the Norfolk Business Board and CEO of Jarrold said:

"Norfolk is brimming with potential and I am certain we can be key players in shaping the UK's economic future. In discussions with business leaders across the county, there is a collective drive to help Norfolk reach these ambitious goals.

"Our region's strengths are well-recognised by those of us who call Norfolk home, and we have much to be proud of. Our county's potential needs to be acknowledged at the national level and become a fundamental part of the UK's economic plans. We will continue to work hand-in-hand with partners like Norfolk County Council to build an economic future that embraces inclusivity, sustainability, and innovation."

Members of the Norfolk Business Board - set up in April 2024 following the integration of New Anglia Local Enterprise Partnership into Norfolk and Suffolk County Councils - are now working to develop an action plan to support the growth plan.

The new funds will look to unlock private sector investment, with the new Business Growth Fund's 30% intervention rate leveraging an additional £2.33m of private money.

To find out how to apply for grants from April 2025 via the Made Smarter Adoption programme, visit the Made Smarter Adoption Programme East of England webpage.

About the Made Smarter scheme

The £1.2m Made Smarter scheme - funded by the Department for Business and Trade - will support small and medium sized businesses adoption of Industrial Digital Technologies (IDT) through impartial advice and guidance, a digital readiness roadmap, and leadership and management development programmes to upskill the workforce.

The programme aims to overcome key barriers to growth such as low-level awareness of Industrial Digital Technologies (IDT), accessing funding to invest in IDT solutions, and know-how and skills.

Norfolk County Council is running the Made Smarter programme on behalf of the East of England.