The New Anglia Local Enterprise Partnership is calling for local businesses wanting to grow and create new jobs to apply for grants through the Growing Business Fund.
The Fund is made up of two programmes: a Small Grant Scheme, for grants between £5,000 and £25,000, and a larger scheme for grants between £25,000 and £500,000.
Both programmes are delivered by New Anglia LEP in partnership with Suffolk County Council and Finance East, and supported by OrbisEnergy.
Small (including Micro) sized businesses may apply for a grant of up to 20% of the total project cost needed for investment, and be used to leverage funding from other sources, such as banks and other financial organisations, while Medium sized businesses may apply for up to 10% of the total cost of the expansion project.
Businesses based in an Assisted Area in either Norfolk or Suffolk may be eligible for the following levels of grant funding:
– Small (including Micro) businesses – up to 30%
– Medium sized businesses – up to 20%
– Large businesses – up to 10%.
If you’re not sure if you are based in an Assisted Area, you can check here.
To be eligible for grant funding, applicants must meet the following essential criteria:
- Be a trading and growing small or medium-sized enterprise;
- Be based in Norfolk or Suffolk;
- Be ready to invest, expand and recruit new staff in the local area;
- Be able to evidence secured match funding from private funds;
- Be able to prove a need to apply for a grant;
- Be able to create at least one new job for every £10,000 worth of grant.
- Additional criteria apply to Large businesses.
For more information on both programmes and to access the Grant Programmes Guidance click here.
If you are interested in applying for a grant or want to discuss your expansion plans, please contact the team at OrbisEnergy.