The era of big Government grants is over, delegates were warned at The Big Debate at Venturefest.

The Big Debate, which was was chaired by Steve Hughes, managing editor of The Press, featured leaders from Yorkshire’s private and public sector.

It replaced the usual keynote speaker slot at the event, to give businesses a chance to ask questions about the new local enterprise partnerships (LEPs).

James Newman, the chairman of both the Sheffield City Region LEP and Finance Yorkshire, warned that while there would be small amounts of funding available for specific purposes, such as the European Regional Development Fund and Technology Strategy Board funding, the era of big Government grants was over.

He said: “The hardest conversation I have is trying to impress upon people in the private sector and start-up sector that the grant culture has gone forever.”

Mr Newman said a culture had existed where people would consider a project not worth doing unless there was a grant for it.

Kersten England, the chief executive of City of York Council, said the LEPs would instead create the right environment for businesses to succeed through initiatives such as sector networks and encouraging inward investment and export.

She said York was part of two LEPs, the Leeds City Region and York and North Yorkshire LEP, in order to benefit both its different economic relationships.

“We will do what works locally and get into partnership with other people if it grows our economy,” Mrs England said.