Deadline: 20-Apr-23
The West of England Combined Authority is pleased to announce the Business Growth and Adaptions Grant which is designed to support Small and Medium Enterprises (SMEs) in the West of England with their plans to grow by investing in products or equipment to drive production of physical, tangible products.
Funding Information
There are two funding streams available for planned future expenditure:
- Fund 1 is £6,000 – £10,000
- Fund 2 is £10,001 – £30,000
What can the grant be used for?
Grants can be used for products or equipment to help the business achieve one of the following:
- Increase or improve production
- Start production, including bringing production ‘in-house’.
- All projects should support operations or processes to maintain or increase turnover.
Your application must be for planned future expenditure. Items purchased before you are awarded a grant will not be eligible for funding.
Eligibility Criteria
- Fund 1 £6,000 to £10,000
- Have a registered and/or trading address in the Bath and North East Somerset, Bristol, or South Gloucestershire local authority area
- Be able to provide a minimum of 20% match funding for your purchases
- Have traded for at least 1 year
- Be a sole trader, limited company, limited liability partnership, or a co operative
- Be a small or medium sized enterprise (SME), this means you must not employ more than 249 people
- Fund 2 £10,001 to £30,000
- Have a registered and/or trading address in the Bath and North East Somerset, Bristol, or South Gloucestershire local authority area
- Be able to provide a minimum of 20% match funding for your purchases
- Have traded as a limited company, limited liability partnership, or a co operative for at least 3 years
- Be a limited company, limited liability partnership, co operative or a registered charitable company
- Be a small or medium sized enterprise (SME), this means you must not employ more than 249 people
- Provide your latest full filled accounts with Companies House where the previous year’s figures are also included. These should consist of the Profit & Loss Statement, Balance Sheet Statement and Notes to the Accounts. They will not accept abbreviated or draft accounts.
Note: This is a grant and does not need to be repaid. However, the Business Growth and Adaptions Grant is paid on defrayal, this means if you are successful in securing a grant, you must purchase your items and then claim the funding you have been awarded. You must be able to do this within the 3 month claim window. You will need to be able to provide at least 20% match funding and the project you are requesting funding for should support your operations or processes to maintain or increase your turnover.
For more information, visit West of England Combined Authority.