Business Grants that are available to SMEs change all the time. The Grow on Growth fund initiative available in nine of the UK LEP areas and supports companies located in business incubation environments to ‘fly the nest’ and prepare their next stage of growth. The grant covers capital assets mainly: capital investment in property, buildings and refurbishment costs; commercial rents; plant, machinery & equipment; IT and new technology; staff recruitment and training costs.
Is this business grant for you?
To be eligible, your business needs to be located in a business incubation environment (for instance a business incubation centre, enterprise centre or science park) and you should be at the end of your incubation/ tenancy period.
Conditions and criteria:
- Businesses can apply for grants between £20,000 and £100,000.
- The intervention rate of the grant is 40% max of total expenditure.
- Applicants need to identify and secure at least 60% of match funding from private sources (e.g. own funds, banks, private investors).
- The business grant needs to be spent within 12 months maximum.
More details about the process and timescales can be found here by visiting InTandemConsulting.co.uk.
For marketing advice specific to your business, get in touch and speak with a marketing specialist on 01858 374 170 or email info@idealmarketingcompany.com
