BUSINESSES and the public sector can bid for a share of a £2m fund which has been launched to support regeneration projects in Surrey and Hampshire.

The funding, a new round of the Growing Enterprise Fund, has been launched by the Enterprise M3 Local Enterprise Partnership (the LEP). The fund was set up in 2012 to support economic growth by addressing infrastructure and site constraints which might be impeding development.

So far the LEP has awarded funding to 10 projects which have delivered vital new homes and jobs in the areas.

The LEP is working hard to deliver its strategic economic plan for the area. So projects must demonstrate how they will help deliver this plan. Qualifying projects could include transport, utilities, broadband, flood-defences, land remediation and innovation/enterprise centres.

Enterprise M3 is seeking projects that deliver economic growth, especially in terms of jobs and housing, enable development where there is proven demand, kick-start or bring forward development, can be delivered soon, can repay the funding quickly, offer value for money, and help to deliver the Enterprise M3 strategic economic plan.

Investment must be capital and all projects must deliver benefits for the Enterprise M3 area.

Geoff French, chairman of the Enterprise M3 Local Enterprise Partnership, said:

“This fund is about giving our projects in the area the boost they need. It could be particularly useful for development sites which currently need a helping hand.

“The funding has a good track record of success benefiting many businesses. It is exciting to see previous projects repaying the loan which allows us to reinvest in new projects.”

For more details, visit enterprisem3.org.uk.