Growth Fund

This fund will primarily be targeted at those businesses who have received little previous Government support and are now looking to grow or expand as they continue to recover from any negative impacts associated with trading during the pandemic. These businesses may benefit from grant funding to pursue a growth or development project. Sectors given priority under this Fund will be manufacturing, engineering, professional or other office services, logistics and distribution, wholesale, construction and environmental. Business operating outside of these priority sectors who have a significant growth project are encouraged to contact us to discuss the viability of your project with the terms of the fund.
Closed on:
8 October 8 October

How much can I apply for?

Applicants can apply for grant assistance of £4,000-£10,000.

What if I have a project above or below the threshold?

Unfortunately, we cannot support projects above or below the project thresholds.

What type of project are you looking to support?

Businesses are encouraged to assess their own individual business needs to support their growth plans. The fund has been deliberately left non-prescriptive in defining outline project scopes, as we wish to encourage creativity or innovation.

However, as a guide for applicants the type of projects we are looking to support are:

  • New capital expenditure purchases that will enable the business to improve processes, increase efficiency, increase production capacity, generate new contracts etc.
  • Purchase of professional external services that will enable the business to access external support. This could be in the form of consultancy, marketing, etc.

What project will the fund not support?

The fund cannot be used to support:

  • Staff wages / salaries
  • Stock
  • Purchase of company cars or vans
  • Rental, hire purchase, or lease of equipment
  • Rent, lease, mortgage payment
  • Any associated bills or utilities

This list is not a full list of ineligible projects. Any applicants who are unsure of a project’s eligibility are advised to contact us.

Can I use the grant to pay for staff time?

No. The grant monies must be spent with a 3rd party business not linked to the applicant. All purchases will be checked in due diligence.

Can I apply for staff training or courses under this fund?

No.

How can I check if my project is eligible?

If applicants are unsure of their project eligibility, they should contact us to discuss their proposed project.

Can I purchase computer equipment under this fund?

This fund is not intended to support the purchase of new computer equipment that seeks to replace and/or update older equipment.

As applicants have been given discretion in how they would like to deploy the funds, and if the business can clearly outline the reasoning for purchasing new computer equipment, they are still able to submit an application.

However, applications applying for computer equipment will not be prioritised. If an applicant would like to purchase computer equipment through the fund, they will be required to outline in detail the business advantages that will come from the purchase over and above that existed previously.

This includes, but is not limited to:

  • New contracts they will be able to generate
  • New services they will be able to introduce
  • Advantages to the business
  • Forecasted turnover increase

I am a sole trader who has previously received funds through the Self Employed Income Support Scheme (SEISS). Can I still apply?

Yes. As long as you have an eligible project, and meet the Terms and Conditions of the fund.

How many quotes am I required to submit?

Applicants can have multiple items built into each quote, up to the maximum grant request of £10,000.

Do the quotes need to be dated?

YES. All quotes must be dated on or after Tuesday 14th September.

Eligibility & Additional details

The grant funding is for 100% of project costs. No match funding contribution from businesses is required.

The project will only allow business to purchase equipment, goods or services from a maximum of two providers, to the maximum grant threshold of £10,000 for VAT registered business, and £12,000 for non-VAT registered businesses.  For example:

  • A VAT registered business could seek to purchase new capex for £4000 (Exc.VAT) from provider 1, and a new service from provider 2 for £6000 (Exc.VAT). The applicant business would therefore be eligible to apply for a £10,000 grant.
  • A non-VAT registered business could seek to purchase an item of capex for £12,000 (Inc.VAT). Of which the cost of the item would be £10,000, and the VAT would be £2000. For a total project cost of £12,000.

Please read the specific fund guidance and FAQs before completing an application as this details all the submission requirements.

The Council expects a high level of interest for the fund and will prioritise those applications that meet requirements.

Download guidance notes

Once submitted, we aim to notify applicants of the outcome within 20 working days.