Mayor Claire said:

“Businesses across the East Midlands are navigating an increasingly challenging and uncertain economic climate. While many have ambitious plans to grow, improve productivity and become more competitive, the risks and costs associated with investing can often hold them back.

“This fund is designed to help make that investment less risky, giving businesses the confidence to invest in new equipment, technology and energy-saving measures that will strengthen their productivity, resilience and long-term competitiveness.

“By supporting businesses now, we can help create and safeguard jobs, unlock further private sector investment and build a stronger, more resilient economy for the East Midlands.”

The programme will offer two funding strands for small and medium-sized enterprises (SMEs).

The Business Growth and Productivity Grant will support businesses to invest in machinery, equipment, technology, innovation and expansion projects.

The Business Energy Saving Grant will help businesses invest in energy efficiency measures and lower-carbon technologies, helping them reduce energy use and cut costs.

Businesses that receive grants will also have access to wider advice and support services, helping them make the most of their investment and plan for longer-term growth.

The investment will help businesses improve productivity, create and safeguard jobs, become more innovative and reduce their exposure to rising costs, helping to build a stronger and more resilient regional economy.

The fund is expected to launch later in 2026 and will use existing business support channels, including online applications through the Growth Hub website. It will also connect businesses with other support available across the region, including Scale Up – Business Support, Start and Sustain and the Enhanced Growth Hub.

The Business Investment Fund forms part of the East Midlands Combined County Authority’s £107m Local Growth Fund, which supports economic growth and investment across the East Midlands.

The Local Growth Fund focuses on five areas designed to tackle barriers to growth and create new opportunities across our region:

• Opportunity Escalator – helping people access employment and skills pathways that support growth
• Business Growth and Investment – supporting businesses, investment and boosting tourism
• Cluster Development and Innovation – strengthening priority sectors and the region’s wider innovation ecosystem
• Strategic Development – supporting key sites, infrastructure and regeneration opportunities
• Thriving Places – investing in digital connectivity, regeneration of high streets, rural areas, and community energy

Together, these investments will support businesses, communities and places across the region, including Chesterfield and Derbyshire, helping to create the conditions for sustainable and inclusive growth and more opportunities for local people.

Whether starting a business, growing an existing organisation or looking to expand, businesses can find out more about the support available in Chesterfield by visiting www.chesterfield.co.uk/business/business-support or emailing info@chesterfield.co.uk