Join the Chamber today
 

Coast to Capital Region Business Growth Grants

The Coast to Capital Region Business Growth Grants Programme has launched and we are looking for Small and Medium (SME) sized businesses that want to grow and to create new jobs. £2,457,000 is available for this financial year.

The programme is inviting Expressions of Interest (EOI) from Small and Medium (SME) sized businesses that are looking to expand and to create new jobs but not finding it easy to source the finance required. Grants of up to 40% of a total project cost can be provided to applicants that meet the eligibility criteria, are located within the Coast to Capital Region and can demonstrate how the investment will lead to job creation and growth.

Applications from all sectors are welcome but the programme particularly would like to see applications from companies in the following sectors, which have been identified as key sectors for the Coast to Capital region:

    Advanced Engineering
    Manufacturing
    Environmental Technologies, Goods and Services
    Creative, Digital and IT
    Healthcare, Medical Technology and Life Sciences

The programme is inviting start-ups, existing businesses and social enterprises to apply. The proposed new activity must be additional to existing business activity. Businesses must be able to incur the total project costs in full by 31 March 2017 and the grant may only be used for capital items.

Applications for Expressions of Interest are now open and will remain open until 12 noon on 30 September 2016 or until the amount of funding available is awarded, whichever is the earliest. This programme will only fund new activity and therefore retrospective costs are not eligible. For the purpose of this programme new activity is defined as that happening after the EOI has been approved and this has been communiced to the applicant.

Eligibility Criteria

    Grants of between £15,000 and £100,000 are available for capital expenditure only.
    Businesses must be able to incur the total project costs in full by 31 March 2017. Expenditure incurred means that the goods, works or services have been received by the business within that period and an invoice has been approved for payment.
    Businesses must demonstrate how the grant will lead to new jobs and meet the minimum cost per job figure of £10,000. For every £10,000 provided as a grant we would expect at least one full time job (30+ hours per week) to be created.
    It will be a contractual requirement that the investment and any job created through it must be sustained for at least two years.
    Businesses must show other investment alongside the grant- we will provide up to 40% of the project costs as a grant and you will need to provide the remaining 60%. Other forms of investment (match funding) could include retained profits, loans, equity finance or investment funds.
    Show how the project will have a positive impact on the local economy and how it will benefit local community and the local environment.
    Applications have to show how the jobs created are new and do not merely displace those in similar businesses.
    Applicants must be planning at least one of the following:
        To introduce new goods or services or other innovations
        To exploit leading edge and emerging technology
        To break into new markets, both in the UK and overseas.
    Business must have premises in or be planning to create new jobs in the Coast to Capital areas; West Sussex, Brighton and Hove, Lewes, Croydon, Epsom and Ewell, Reigate & Banstead, Mole Valley and Tandridge.

What the grant can be used for

Because the Local Growth Fund is in the form of a capital grant, it may only be used to fund the acquisition, enhancement or creation of capital assets which have a useful life for at least 12 months. Eligible expenditure items include but are not limited to the following:

    Machinery
    ICT equipment and infrastructure
    Building works- refurbishment and remodeling
    Business vehicles
    Furniture and fitting and storage equipment
    Tools and other essential equipment
    Plant and essential building services
    One-off security equipment
    Commercial catering equipment and plant
    Retail fittings and point of sale equipment

Applicants wishing to apply for activities related to Research, Development and Innovation, for example software development, development of new products and prototype development and testing (this list is not exhaustive) should note that these types of projects are likely to involve substantial expenditure that is unable to be classed as capital expenditure and will need to be considered on a case by case basis to gain clarity and agreement on eligibility. Therefore applicants for this type of project should email the Programme Team at ASAP.

Other project costs such as salaries for new staff, rent and rates for new premises that are not included in this list may be met by the applicant’s match funding but will not be eligible for grant funding from this programme.

Applicants may include any eligible expenditure from the date that we receive the EOI. But this will only be funded if the business is successful in securing the grant funding. Businesses incurring expenditure prior to approval do so entirely at their own risk. Funding will not be provided for expenditure incurred on unsuccessful applications.


Contact us:
If you would like any further information please contact the Programme Team at businessgrants@westsussex.gov.uk


How to Apply:

For information on how to apply click here.


IT Support kindly supported
by Active Group



© 2013 Worthing & Adur Chamber
Google+

Worthing & Adur Chamber of Commerce

Sphere Business Centre, Broadwater Road, Worthing, West Sussex BN14 8HJ
Tel: 01903 203484

email: info@worthingandadurchamber.co.uk

Worthing & Adur Chamber of Commerce is the trading name of Worthing & Adur Chamber of Commerce & Industry Ltd.
Company registered in England & Wales. Company number: 00345261.
Registered Office: Sphere Business Centre, Broadwater Road, Worthing, West Sussex BN14 8HJ

Terms and Conditions              Privacy             Cookies                 Disclaimer                Copyright
  
    

           
Powered by Wild Apricot Membership Software