The Treasury recently announced an increase in the budget allocation for the Coastal Communities Fund.  Next year’s fund will be worth £29 million, an increase of 5% on the 2013 level. Government has committed the Fund allocation to 2016.

The Fund was established with the intent…

to invest in seaside towns and villages, helping them achieve their economic potential, reduce unemployment and create new opportunities for young people in their local area.

Forecasts for the first round projects across the UK are that the Fund will generate 5,000 jobs and 500 apprenticeships. You can see a map pinpointing the successful first round projects here.

Retail businesses in the  Eastern region can share in a £250,000 fund to help improve their digital technology thanks to the Greater Lincolnshire Local Enterprise Partnership and Lincolnshire County Council. (£200,000 of the money has come from the Department for Communities and Local Government, via the Big Lottery Fund, operating as the BIG Fund. Lincolnshire County Council is contributing a further £50,000).

The Council and the LEP are developing pilot areas in which businesses can bid for the funds.  Once the pilot areas are identified, businesses in those areas will be able to bid for a share of the money from April 2013 until the end of March 2015.

In the wider Coastal Communities Fund context the successful bids for round 2 will be announced in the autumn and nominations for round 3 are expected to open in early 2014.

You can check out the Coastal Communities Fund pinterest board here. See the winning projects in action.

Finally, Lincolnshire does have Digital Business Cluster presence on LinkedIn. Although specific funding is targeted at distinct areas of the County, joining a LinkedIn group is a good way to keep up to date with developments across the county. Read more here…