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Boost for Kettering Businesses

The European Commission has now approved the UK’s proposed Regional Aid Guidelines map for Assisted Area status 2014-2020, which includes 22 wards within Corby, Kettering, Wellingborough and East Northamptonshire, providing a significant boost to Northamptonshire’s growth ambitions.

Assisted Areas are those areas where regional aid can be offered to businesses under state aid rules. Although Assisted Area status is not itself a guarantee of funding, those businesses in Assisted Areas generally have access to a greater range of grant funding compared with businesses elsewhere.

The European Commission has now approved the UK’s proposed Regional Aid Guidelines map for Assisted Area status 2014-2020, which includes 22 wards within Corby, Kettering, Wellingborough and East Northamptonshire, providing a significant boost to Northamptonshire’s growth ambitions.

Assisted Areas are those areas where regional aid can be offered to businesses under state aid rules. Although Assisted Area status is not itself a guarantee of funding, those businesses in Assisted Areas generally have access to a greater range of grant funding compared with businesses elsewhere. For example, some government schemes, such as the Business Premises Renovation Allowance, are set up specifically to support businesses in Assisted Areas.

This approval follows Northamptonshire Enterprise Partnership’s (NEP) request to Government that these wards were granted Assisted Area status, to support economic growth.

The new map has full legal effect as from 1st July 2014 and will run until 31st December 2020.

Stephen Watts, Associate Partner at Kettering accountants Haines Watts, comments;    ‘This news is a real boost to businesses in Kettering who will now have access to vital funds to help them grow and create local jobs. The priority now must be to raise awareness and support local businesses in Kettering to come forward with bids as soon as possible.’

Northamptonshire Enterprise Partnership will now be hosting events for businesses in the new assisted areas in Kettering to see how this can best help them.

About Haines Watts

Haines Watts Accountants specialise in advising and supporting business owners. They support over 35,000 companies and business owners around the UK, which gives their clients access to a huge amount of business expertise and knowledge.

At Haines Watts we believe that the role of an accountant is not purely based around producing year end accounts and filing tax returns. As well as delivering the core service, we are passionate about working alongside our clients as a business partner to give advice, opinions and guidance on various business issues.

You can contact the Kettering office of Haines Watts accountants on 01536 483513.

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