29 January 2015 15:00
News
Unlocking Business Investment (UBI) grant programme goes live
Unlocking Business Investment, the new grant programme to help businesses across the Heart of the South West LEP area grow and create wealth and jobs in the South West, is now open.
Funded by the Regional Growth Fund, the grant aims to support individual businesses to invest in projects that create or safeguard jobs in the private sector.
Grants of between £25,000 and £499,000 could be available to eligible growing businesses that are able to deliver job creation as part of their development plans.
Grants will be focused on capital items such as plant, machinery and premises, but IT and software, research and development, training and site rental costs may also be considered. Projects must be completed by 31st March 2017 with jobs created by March 2019.
Who is eligible?
Small, medium and large businesses can apply but grant intervention rates will vary dependent on size of business, location, and job creation outputs. Due to State Aid rules, certain sector restrictions will also apply.
For more information, a grant prospectus is available with full details on eligibility and suitable projects.
Next steps
Businesses wishing to apply for the programme should visit the UBI application portal where they can register their details, and complete an Expression of Interest (EOI).
Guidance notes to assist applicants with their EOI are available from the following link - Guidance notes.
Please note a fee of £120 ( £100 plus £20 VAT) is payable at the EOI stage to contribute towards
initial checks and project review.
After completing the EOI, projects will be put forward for review, with successful applications being invited to proceed to a full application.
For more details, or for informal advice on the process, please the Business Engagement Service on 0800 0732020 or email [email protected]
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