BOLTON firms are losing out on millions of pounds, according to a firm of business advisors.

Accountants PKF say millions of pounds lie idle in the form of grants because companies are not aware that they exist.

Jason Hiley, partner at PKF in Manchester, urged businesses to see if they can claim. He said: "The list of grants available for all kinds of businesses is endless but many businesses haven't the faintest idea of where to start looking for them.

"As well as providing a cash injection for start-ups, and helping businesses that are already doing well, businesses under pressure could have their burden significantly relieved if only they were aware of the grants available.

"Well-known grants include European funding or lottery applications, but there are many more. Regional selective assistance, property development funding, innovation assistance and leisure and tourism assistance should all be examined to see if they can help. A client who owned a hotel was recently granted £1million to develop it. If every business made use of the grants available, it would make a huge impact on the productivity and profitability of regional businesses. It's crucial that companies make the most of these opportunities and get access to this funding."