Businesses across Milton Keynes, North Buckinghamshire and Bedfordshire are being encouraged to submit Expressions of Interest for the newly launched South Midlands Growth Grants. The programme aims to help SMEs invest in innovation, adopt new tech and move towards greener, more sustainable operations. The grants are designed to accelerate growth and give firms the financial boost needed to progress stalled or ambitious projects.
Two funding options are available. The Capital Growth Grant offers between £5,000 and £50,000 for SMEs delivering capital projects that enhance productivity or support decarbonisation. The Micro Capital Grant provides £300 to £3,000 for sole traders, micro businesses and early-stage companies that need investment to develop new products or services. Each grant requires 50% match funding, and businesses can only apply to one scheme.
Ruth Roan, Growth Hub Manager, said the new programme gives local enterprises the opportunity to strengthen their resilience and competitiveness. “The South Midlands has a huge concentration of innovative and ambitious businesses,” said Ruth. “These grants will help them bring new ideas to life, adopt smarter technology and build stronger green credentials. Our aim is to remove obstacles and support projects that will make a meaningful impact on business performance and the wider economy.”
Milton Keynes City, Central Bedfordshire and Bedford Borough are all included within the eligible area, alongside the Northamptonshire and Luton localities. Any business operating within these boundaries must first complete an Expression of Interest before 17:00 on Wednesday 17 December 2025. Organisations that meet the criteria will then be invited to submit a full application, with successful projects expected to begin from late February 2026.
The funding supports a wide range of capital investments, including new machinery, equipment, improvements to commercial premises, software development and digital tools that enable scalable growth. Website development may also be funded where it forms part of a broader commercial or technological project rather than routine promotional activity. Operational costs, routine replacements, vehicles and pre-approval expenditure are not eligible.
Applications will be assessed competitively, with panels reviewing their economic impact, value for money and deliverability. Projects contributing to carbon reduction will be asked to produce a decarbonisation plan on completion.
Businesses in Milton Keynes and the surrounding region can access full guidance and submit their Expression of Interest through the South Midlands Growth Hub website.
