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SEEDA provides 8m to help South East businesses go green

25 January 2010

EU ERDF logoThe South East England Development Agency (SEEDA) has allocated £3.8m to green businesses throughout the region and established a £4m sustainability loan fund.

 The £3.8m will fund 2,500 businesses to develop initiatives within a framework of six sustainability-led projects. The projects focus primarily on waste reduction, sustainable procurement and the development of sustainable technologies. Qualifying businesses will undergo training and environmental audits in order to establish methods that boost profits through energy reduction.

The £4m South East Sustainability Loan Fund will provide additional support for businesses that contribute to reducing the region’s ecological footprint. The fund will make between £20,000 and £200,000 available to every business that wishes to improve its green credentials. The move is expected to increase the competitiveness of micro, small and medium sized businesses in the South East.

Oona Muirhead, Group Executive Director of Strategy and Resources, said: "The funding from the European Regional Development Fund comes at a time when so many businesses are working to grow out of recession. Investing in going green will help businesses to cut costs, increase profits and support long-term sustainable prosperity in the South East."

The South East European Regional Development Fund (ERDF) Competitiveness Programme 2007-13 supports new ways of linking good practice between prosperous and less economically successful areas. This is achieved through collaborations with businesses throughout the region and sharing best practice wherever possible.

The fund has a total allocation of over £21m to be awarded over the seven year period. Further funding rounds are to be held in early 2010.

Oona adds: "The ERDF has supported some exciting and innovative projects and we look forward to see how the funding helps businesses as it is rolled out throughout the region."

For further information on future funding calls for the South East ERDF Competitiveness Programme 2007-13, please contact

Gemma Starr, SEEDA
Tel: 01483 470180

For further information on the South East Sustainability Loan Fund, please contact

Sally Goodsell, Finance South East
Tel: 01276 608510

For media enquiries, please contact:

Ben Jun-Tai, Media Relations Officer, SEEDA
Tel: 01483 470 155

View full media release here

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