Solent Freeport Opens Grants of Up to £5,000 for Small-Firm Training

FTZ News: Solent Freeport has started a new grant program that will pay for staff training at small businesses in the area. Firms can apply for one-time awards ranging from £500 to £5,000. Applications opened October 13 and run through November 20.

The money covers only the cost of the training itself. It cannot be used for equipment, wages or travel. To qualify, a company needs fewer than 50 employees, at least a year in business, and a main address in one of several local areas across Hampshire and the Isle of Wight. It also has to work in sectors the freeport has flagged as priorities — advanced manufacturing, maritime, aerospace, digital technologies or clean energy. The training must come from a registered provider.

Brian Johnson, the freeport’s chair, said skills shortages are slowing down smaller companies that want to grow but do not have the cash on hand to pay for training. The grants are meant to let those firms close the gaps now. How many companies apply, and whether the training shows up in higher productivity, new contracts or more hiring, is still unclear. The freeport has not said how much money is available overall or how many grants it plans to give out./.