Now Open -Business Growth Grant Fund
Business Growth Grants support businesses from all sectors to adapt to the challenges they face as a result of the COVID-19 pandemic.
The Business Growth Grants are designed to support SMEs in the West of England with their plans to drive growth by implementing new business practices or adopting new ways of working.
The grants are open to businesses across all sectors, from sole traders to established SMEs.
We can also connect you to a wide range of further support through our Growth Hub to support your business plans.
What value of funding is available?
Grants are available from £1,500 - £6,000.
Your business will need to be able to provide a 20% match fund.
For example: if you receive a grant for £1,500, your business would need to match fund £300. A business applying for a grant for £6,000 would need to provide a match fund of £1,200.
What can it be used for?
The fund supports businesses that have growth plans in place but need some help to get them off the ground. The grants can be used to help your business:
- Purchase new equipment, such as new IT equipment or machinery to produce a new product;
- Create new services, such as a new digital marketing strategy and the means of putting it in place, to sell a new product or business service;
- Adopt new processes or new ways of working, such as adaptations to your premises to accommodate a new production process or operation.
- All projects should help to increase your outputs or turnover, support new operations or processes to create new employment opportunities or maintain employment.
What can’t it be used for?
The grant cannot be used to support or sustain existing business operations, such as overheads, outgoings or salaries, or standalone consultancy costs such as business mentoring.
Who is eligible?
The grants are open to:
- Businesses from all sectors;
- Businesses of varying sizes, from sole traders to established SMEs. There are no minimum turnover requirements or minimum employee numbers;
- This grant is only open to businesses that are a Small, Medium Enterprise (SME), so there is a maximum level of employment of 249 employees nationally;
- There is no requirement to have a business property;
- This fund can also be used as match funding against other grant or funding applications.
Businesses must be:
- Located and have a trading address in the West of England region – this means Bath & North East Somerset, Bristol or South Gloucestershire;
- Have at least one year of submitted accounts, and have been trading for no less than 12 months;
- Able to provide at least 20% match funding.
How do I apply?
The fund opens on 22 March 2021. Applications will be made online on the Growth Hub website.
The link to the application portal will be added to the West of England Growth hub page when available.
If you wish to be notified when the fund opens, please complete this form.
The fund will be open for applications for two weeks, from 22 March to 4 April 2021.
The Growth Hub will let you know by 19 April if your application for a grant has been successful.
If you are successful in your application for a grant, all grants must be claimed by 14 June.
To help you prepare for your application, you can view the information you will need to submit. This will help you prepare your submission in advance of the application portal opening.
If you have any further queries please e-mail EnterpriseGrants@WestofEngland-ca.gov.uk and they will respond to you within 2 working days.
If you are unable contact via e-mail please call the Growth Hub team on 0117 456 6955.
Please note, applications need to be made online through the Growth Hub application portal.
If you feel that you may have accessibility issues please contact the team by e-mail EnterpriseGrants@WestofEngland-ca.gov.uk or contact 0117 456 6955 and they can support you in an alternative application route.