The Investing in Growth Grant Fund is a Capital and Revenue based grant scheme which offers grants from £20,000 up to a maximum of £50,000 at an intervention rate of 45%. The Grant programme aims to aid business expansion enabling established SMEs to realise their growth potential, strengthen their position in the market and generate employment.
The Investing in Growth programme is supported with funding from Worcestershire County Council, local District Councils and the European Regional Development Fund,. As such all applications and grant expenditure must comply with EU eligibility criteria. Further information on eligibility can be found on the factsheet attached and application guidance notes.
How to Apply:
If you are a Worcestershire based business, or are moving in to the County, and meet all the eligibility criteria below you may wish to apply for the Investing in Growth Grant Fund through the Spring 2018 Investment Call:
- Worcestershire based Small Medium Enterprises (or locating to Worcestershire County)
- Trading for 24 months or more
- Must generate new sustainable employment based in Worcestershire (1 FTE per £10k of grant funding).
- Meet the De Minimis State Aid regulations
- Be trading at least 70% Business to Business
- Organisations must be able to provide evidence of the availability of match funding for the project (intervention rates 45% with 55% provided by SME)
Both capital and revenue projects may be supported such as;
- Capital equipment, machinery, electrical appliances
- Support for research and development to strengthen and develop new markets
- Undertaking physical expansion, building works, fixtures and fittings
Due to this being a competitive appraisal process preference may be given to capital expenditure in order to meet our funding targets. Some items such as recurring revenue costs are not eligible for grant funding.
Step 1 – Applicants will need to complete and return the full application form which can be found here, together with associated documents including quotes and schedule of costs. Please read the guidance notes carefully before submitting your application.
Step 2 – Full applications will be appraised based on the project, the organisations’ eligibility, its growth potential and projected job creation.
|30th April 2018|
Wendy Garrad – EU Project Manager
For enquires, please contact:
Telephone: 01905 844595