Business Growth Programme

Overview

Am I eligible?

Your business must:

• Be based, or looking to locate, in West Yorkshire? (Bradford, Calderdale, Kirklees, Leeds or Wakefield)
• Have been established for at least 12 months and must operate from commercial premises
• Operate in key growth sectors and/or their direct supply chains: specifically health and life sciences, digital and creative industries, low carbon and environmental industries, manufacturing, financial and professional services or business to business services
• Generate the majority of its turnover from trading with other businesses, or, your application must demonstrate how the grant-supported project will lead to this. Businesses engaged in retailing or providing localised business to consumer services are not eligible for grant support
• Have private finance available: either your own, from a bank, or other commercial finance to invest alongside the grant (please note: the minimum total project cost is £50,000 - therefore you must have at least £4 of private sector finance to invest for every £1 in grant)
• Demonstrate financial viability of the project and the need for grant support.

Your project must:

• Consist of capital investment in equipment and/or, fit-out and refurbishment of buildings. (Please note: refurbishment or renovation projects will only be supported where you will be the sole occupier within the refurbished or renovated business property)
• Create at least one new job for every £7,500 - £12,500 of grant received, with the higher level of grant only available for jobs paying above the Real Living Wage.

Funding available:

• In accordance with State Aid rules, you can apply for a maximum grant of between 10% and 20% of your project costs, depending on the size of your business (10% for businesses with between 50 and 100 employees).

For example:

• If you have 20 employees and a total project cost of £250,000 the maximum that you can apply for is £50,000
• If you have 80 employees and a total project cost of £250,000 the maximum that you can apply for is £25,000.

Multiple applications:

• The maximum number of applications that can be approved for a single business is capped at three in a three year period. If you have already had three projects approved, you will not be able to apply for further support until the three years has lapsed.
• The maximum grant that can be approved for a single business over a three year period is £250,000. This could be in one single grant award, or two or three smaller grants which total £250,000. If you have already had £250,000 in grant support you will not be able to apply for further support until the three years has lapsed.
• If you are unsure about whether this affects you, please contact the LEP Business Support Service who will be able to advise you.

Inclusive growth

As part of the LEP’s commitment to delivering inclusive growth that benefits everyone, we have introduced new measures to encourage businesses to maximise their positive impact on the region.

If you receive a grant of £25,000 or over, you will be expected to make additional inclusive growth commitments. There are lots of different ways businesses can get on board, from volunteering in a local school to becoming a real Living Wage employer.

Additionally, businesses receiving a grant of less than £25,000 are encouraged to volunteer to undertake an inclusive growth commitment.

The LEP and its network of partners can help you to access several products and services that will help businesses to take these positive actions. Initial guidance and advice on these commitments are available here.