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LATEST NEWS & EVENTS Heseltine promotes Regional Growth Fund  Small businesses may need to seek commercial agreements with other private sector organisations or public bodies to grab a piece of the Regional Growth Fund. In a speech, Lord Heseltine said the fund is well and truly open for business, with £1.4 billion available over the next three years to support projects to build more stable economic conditions in some areas. He explained that the outline of the scheme provides for a £1 million threshold on grants. However, discussions have taken place with banks to see if this amount can be broken up to help small and medium-sized enterprises. "In some cases those bids will come from private sector bodies. In others they will come from private/public partnerships. But they should not come from public sector bodies alone," explained Lord Heseltine. He added that he has no firm expectations for the fund, claiming that it is up to private companies to make the most of the cash. The current round of bidding comes to a close in January for the initiative that was launched by deputy prime minister Nick Clegg in the summer. Posted by Gaby Hamerton 
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