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News - 1 May 2013

Government publishes funding guidance for LEPs

New guidance for Local Enterprise Partnerships (LEPs) explaining how they should deliver European structural and investment funds from 2014 to 2020 has been published by the Government. The guidance explains how LEPs should prepare for their new responsibility for developing and delivering strategies for the allocation of the funds, which combine the European Regional Development Fund (ERDF) and the European Social Fund (ESF). The Government is also seeking views from LEPs and other local organisations on funding priorities for their region, which must be submitted by 31st May 2013.

The government is giving Local Enterprise Partnerships (LEPs) responsibility for delivering of a large part of the new round of European Structural and Investment Funds for 2014 to 2020. This guidance provides guidance on how government envisages the new funding programme working.

Between 2014 and 2020 the European Regional Development Fund, the European Social Fund and part of the European Agricultural Fund for Rural Development will be brought together into an ‘EU Structural and Investment (SI) Funds Growth Programme’. The Growth Programme’s top priorities are innovation, research and development, support for SMEs, low carbon, skills, employment, and social inclusion.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“This guidance explains the new funding programme and how LEPs need to prepare for their strategic role in delivery of the Structural and Investment Funds. It asks LEPs to indicate their priorities for spend in localities, and describes the delivery systems government will put in place to support implementing these funds. It also seeks views from LEPs by 31 May 2013 on the funding priorities.

For those considering setting up a business and want a more personal approach,  contact us at ABDS to offer help and support on a range of issues, including keeping records, VAT registration, National Insurance, starting up a limited company, and PAYE Real Time Information.

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