A HUGE cash windfall worth hundreds of thousands of pounds could bring hope to those York residents and businesses facing uncertainty and tough decisions in the recession.

Higher York, the organisation which represents the city’s colleges and universities, has received £600,000 in grants to offer a programme providing practical help for firms and individuals over the next 18 months.

The cash, which comprises £300,000 from the Higher Education Funding Council for England (HEFCE) and £300,000 from Yorkshire Forward, was described as “very welcome” by the chief executive of City of York Council, Bill McCarthy.

“The development of higher-level skills is an important part of York’s economic strategy,” he said.

Jessica Grant, director of Higher York, said she expected the money to made available in the next few weeks, and the services to start by the beginning of June.

She said: “The content is going to be around providing support for individuals, such as those who are facing redundancy or recent graduates finding it hard to get a job.

“It will include advice on CV writing or understanding the job market, and even advice on starting your own business.”

Mrs Grant said businesses were set to benefit too, with services aimed at managers who need help on everything from advice on redundancy to identifying new markets.

She said: “We have a lot of small businesses and it's not always easy for them to access this kind of information.

“It’s a mix of consultancy and training.”

The windfall for York is part of the Government’s £50 million Economic Challenge Investment Fund, which was unveiled yesterday by the Minister for Higher Education, David Lammy.

Higher York won the grant following a tendering process across the UK, in which educational institutions had only four weeks to produce their plans to cover an 18-month period.

Sir Alan Langlands, head of HEFCE, said: “This shows that higher education can respond swiftly to the needs of the communities it serves. Bids came in from all types of higher education institution, bringing together the efforts of teaching, research and business staff across many departments in a response to evident local needs.

“New opportunities and courses will be on offer almost immediately, building up to a very full and busy programme over the summer and into next year.”