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Coast to Capital Region Business Growth Grants
Coast to Capital is inviting expressions of interest from small and medium sized businesses that are looking to expand and create new jobs.
Grants of between £15,000 and £100,000 will be available to eligible businesses and 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 an useful life of at least 12 months.
Only capital items are eligible for expenditure for this grant programme.
Applicants wishing to apply for activities related to research, development and innovation, 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 engage in discussions with Coast to Capital's growth grants management team ASAP.
Eligible expenditure items include but are not limited to:
*ICT equipment & Infrastructure
*Building works - refurbishment & furniture & fittings & storage equipment
*Tools & other essential equipment
*Plant & essential building services
*One-off security equipment
*Commercial catering equipment & plant
*Retail fittings & point of sale
To be eligible businesses must be able to incur grant expenditure by 31st March 2016 and show how the grant will lead to new jobs and meet the minimum cost per job figure of £10,000.
They must also be able to demonstrate that they have explored fully other sources of funding without success and be able to demonstrate other investment alongside the grant - we will provide up to 50% of the project costs as a grant and you will need to provide the remaining 50%.
Businesses need to also show how the project will have a positive impact on the local economy and how it will benefit the local community and the local environment.
They must also show how the proposed new activity is additional to existing business activity and to the local economy and be in one of the Coast to Capital priority sectors listed below and/or be able to demonstrate strong medium term growth plans. Retail is not an eligible sector.
*Creative, Digital and IT
*Environmental Technologies, Goods & Services
*Healthcare, Medical Technology & Life Sciences
Companies must also have premises in or be planning to create new jobs in the Coast to Capital areas of West Sussex, Brighton and Hove, Croydon, Lewes, Tandridge, Mole Valley, Epsom & Ewell and Reigate & Banstead
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.
Submissions for EOI will close on September 15 at 12pm or before, if the amount of funding available (£1,000,000) is awarded prior to this final deadline date.