Close Brothers was awarded the funding by the Government in round three of the Regional Growth Fund (RGF), an initiative that distributes grants to SMEs in an effort to boost private sector investment.
Of the total £30m that was distributed to SMEs in the UK, Close Brothers said 39 percent of this figure was awarded to companies in the print sector—which has in turn led to the creation of 565 new jobs and the protection of 642 jobs.
Basil Bannayi, managing director of the print division at Close Brothers, says: “To date, we have delivered RGF grants to 263 print businesses across the country, accounting for 39 percent of the total funds we’ve awarded to SMEs across a range of industry sectors.
To date, we have delivered RGF grants to 263 print businesses across the country, accounting for 39 percent of the total funds we’ve awarded to SMEs across a range of industry sectors”
“This equates to almost £12m worth of grants to print businesses, all of which has been used to contribute to deposits on important asset purchases.
“It’s a particularly significant boost for the print industry given the high level of underinvestment in new machinery and equipment throughout the recession.
“Our experienced staff can quickly assess a business for its eligibility and we guide each business through the application process, making it as simple as possible to apply and receive a grant.”