BUSINESS GROWTH GRANTS - COAST TO CAPITAL & GREATER BRIGHTON CITY REGION
25 February 2014
Are you a small or medium business, planning to expand and grow but not finding it easy to raise the finance required? Would a grant of up to 25% of the total project cost make the difference between going ahead with your growth plans and not being able to? If so then our Business Growth Grants could help you.
Coast to Capital Local Enterprise Partnership and Greater Brighton City Region are inviting expressions of interest from small and medium sized businesses that are looking to expand and create new jobs. Applications are particularly welcomed from high-growth, high-innovation, and/ or low carbon and environmental technology SMEs wishing to expand and diversify; however we welcome applications from businesses in other sectors and those projecting modest growth.
Grants of between £5,000 and £100,000 will be available to eligible businesses. We will also consider grants of a higher value where a greater impact on employment growth can be shown.
Grants may be spent on a wide range of eligible items including, research and development, innovation and product/service development, breaking into new markets, skills development, plant and equipment, business premises and other capital items.
To be eligible businesses must:
- Show how the grant will lead to new jobs.
- Be able to demonstrate that they have explored fully other sources of funding without success.
- Show other investment alongside the grant - we will provide up to 25% of the project for grants of £100,000 or under and you will need to provide the remaining 75%; and we will provide up to 20% of the project for grants over £100,000 and you will need to provide the remaining 80%. Other forms of investment could include retained profits, loans, equity finance or investment funds.
- Show how the proposed new activity is additional to existing business activity and to the local economy.
- Have premises in or be planning to create new jobs in the Coast to Capital areas:
- West Sussex County
- Brighton and Hove
- Mole Valley
- Epsom and Ewell
- Reigate & Banstead
- Be planning at least one of the following:
- To grow your business by 20% over the next 3 years
- To employ new staff
- To introduce new goods or services or other innovation
- To exploit leading edge technology
- To break into new markets, both in the UK and overseas
- To develop and market low carbon and environmental goods and services
To supply goods and services to one of the major environmental projects in this area including the Sussex Energy Saving Programme and Off-Shore Windfarms.
Applications are now open and businesses will first be required to complete an expression of interest form which we will review to decide whether your business will be invited to make a full application. For further information please visit www.coast2capital.org.uk/helping-business-growth/regional-growth-fund or alternatively email a member of our Regional Growth Fund team on firstname.lastname@example.org
This initiative is a partnership between Coast to Capital LEP and the Greater Brighton City Region, West Sussex County Council, Brighton & Hove City Council, London Borough of Croydon, Lewes District Council , the Universities of Brighton, Sussex and Chichester, Wired Sussex, Sussex Innovation Centre and The Argus. Eligibility criteria and terms and conditions will apply.