The Development Fund is designed to encourage innovative ideas to promote and support enterprise in disadvantaged areas and amongst groups of people currently under-represented in terms of business ownership. A total of 252 bids were received in Round 1, from which 50 awards have been made. Awards have been made in all the English regions and to a wide variety of organisations. Projects will be providing support for enterprise in deprived areas and to a number of target groups including women, ethnic minorities, people with disabilities, and unemployed people. The Round 1 awards total 15m.
Further funding is available for a second and possibly a third round.
Details of Round 2 will be available shortly. David Irwin, Chief Executive of the SBS, is hosting a series of Imagine events for SBS staff at a number of locations in England. Wherever possible, and subject to the Imagine timetable, he will be available to visit local Development Fund projects. Its mission is to build an enterprise society in which small firms of all kinds thrive and achieve their potential. The SBS is responsible for the network of Business Links which provide information, advice and access to experts on all issues relating to running your own business.