Enterprise Grants work alongside funds from commercial sources, such as
banks, in helping SMEs (businesses
employing fewer than 250 people) to finance their growth. Projects can involve
expanding, modernising or restructuring an existing business, or setting up a
new business. The creation of jobs adds extra weight to a case for support and
applications are assessed to ensure that no jobs will be lost as a consequence
of the project.
The grant is discretionary and will be awarded to those projects that offer
good prospects for sustainable business development and maximise the economic
benefits for their region.
A small business (with up to 50 employees) can receive a grant of up to 15%
of their eligible project costs up to a maximum grant of £75,000.
A medium-sized business (with 50 to 250 employees) can receive up to 7.5% of
their eligible project costs up to a maximum grant of £37,500. This amount can
be increased to 15% under some circumstances.
For more information call Cambridgeshire Business Link on 0845 609 7979.
Processing and Marketing Grant
This capital grant supports the development of
processing facilities for primary agricultural
products in England. It is aimed at businesses who wish to invest in the
food sector.
Minimum investment is £70,000, but
funding of up to 30% is available through a
grant (maximum per project £1.2million). Individuals, groups of primary producers
and companies in England are eligible
to apply.
This is an ongoing scheme and will run
until 2006.
For further information contact DEFRA's Rural Development Service (East) on
01223 462727.
100% First Year Capital Allowances
Small businesses that invest in information and communication technology (ICT)
between 1st April 2000 and 31st March 2004 can claim 100% First Year Capital
Allowances on their investment. This includes computers, software and
next-generation internet enabled mobile phones.
For more information visit the scheme's page on the Inland Revenue's website
or contact your local IR centre:
Peterborough: 01733 317000
Spalding: 0116 2651402
Norfolk: 01493 331249
Business Development Grant
A Business Development Grant is available to new or existing SMEs by applying
to South Kesteven District Council. Only those businesses in the SKDC area
are eligible through SKDC. Any type of business can apply.
If your application is successful, the grant will cover 50% of eligible
expenditure up to a maximum of £5,000 (match funded). Applicants need to
demonstrate that the grant will help in the development of the business.
The grant can be used for training costs or marketing as well as capital
expenditure.
