A YORK accountancy firm which advised on funding deals from government for businesses in the region has secured a new grant fund for growing enterprises.

Clive Owen LLP, which has offices in Northminster Business Park, together with BE Group has secured £4 million from the government's Regional Growth Fund to allocated to businesses in North and East Yorkshire.

The fund will build upon the success achieved last year with the scheme administered by the York, North Yorkshire and East Riding Local Enterprise Partnership (LEP).

The LEP scheme opened the door to the availability of grants within the North and East Yorkshire region, but its timescale was limited by an end date of March 31 this year.

Clive Owen LLP advised on a large number of applications into the LEP scheme, and saw at first hand the investment and job creation that it helped deliver.

Clive Owen LLP partner, Neville Baldry, had the idea to put forward a bid to Round 6 of the Regional Growth Fund for funds to continue the availability of grant support to businesses in the region.

Mr Baldry then teamed up with Simon Allen of the BE Group, which administers the Let’s Grow North East grant scheme, with support also from the LEP.

He said: "This is great news for North and East Yorkshire as, historically, this region has been out of scope for grant funding opportunities.

"Growing businesses in the region have often missed out on funding opportunities, while their close neighbours in areas such as Teesside and West Yorkshire have always benefitted from grant support.

"Last year’s LEP scheme demonstrated that there’s no shortage of ambitious businesses in North and East Yorkshire, and the new scheme will help those businesses who want to expand, but just need that extra support to do so."

The scheme is now ready for launch at a breakfast event at York’s Marriott Hotel in Tadcaster Road on June 19.

Called Let’s Grow North and East Yorkshire, the scheme offers grants of up to between 10 per cent and 20 per cent of capital expenditure, or up to 25 per cent of research and development and training costs can be awarded to eligible businesses creating or safeguarding new and sustainable jobs within the York, North Yorkshire, and East Riding area. The minimum level of grant is £25,000.