Presentation on theme: "Grant Funding in the UK By Greville Warwick MCS Investment & Economic Regeneration for Expanding Regions 10 Station Road, Kenilworth CV8 1JJ Tel: 01926."— Presentation transcript:
Grant Funding in the UK By Greville Warwick MCS Investment & Economic Regeneration for Expanding Regions 10 Station Road, Kenilworth CV8 1JJ Tel: Fax: Web:
English Regions Capital Grants for Business Investment (GBI) Administered by Regional Development Agencies: Advantage West Midlands (AWM) East Midlands Development Agency(EMDA) East of England Development Agency(EEDA) London Development Agency(LDA) Northwest Development Agency(NWDA) One NorthEast(ONE) South East England Development Agency (SEEDA) South West Regional Development Agency(SWRDA) Yorkshire Forward(YF)
Wales Single Investment Fund (SIF) Scotland Regional Selective Assistance (RSA) Northern Ireland Financial Assistance
Grants – What are they for? Grants are a form of financial assistance available to businesses located in Assisted Areas to support their expansion, modernisation, rationalisation and diversification.
Grants – Eligibility Criteria It is located in an Assisted Area? The project requires grant to make it happen, or without grant the project would only go ahead on a smaller scale, or within a longer timeframe. It involves capital expenditure. It creates new jobs or safeguards existing ones which would otherwise be at risk. A majority of the jobs created or safeguarded require qualifications of level 2 NVQ (or equivalent) or above. It will secure increased productivity. The business is viable and can become self sustaining within a reasonable timeframe. It generates regional and national benefits. The bulk of the finance for the project will come from private sources.
Grants – Who can get them? Assisted Areas (Tier 1 & 2) In Tier 1 and 2 areas grant is available to any size of business, subject to meeting the eligibility criteria. Non-assisted Areas (Tier 3) In Tier 3 Areas GBI is only available to SMEs. LargeMediumSmall Tier 1 and %20-25%30-35% Tier 3n/a10%20%
The cost of the tangible or intangible assets directly relating to the investment project; or The wage and salary costs of the employees who fill the jobs created, calculated over a two year period; or In Tier 2 areas only, a combination of both. In the case of a grant based on the wage and salary costs of jobs created, the jobs must be created within 3 years of the completion of the investment project and must be maintained for a minimum period of 5 years after completion of the investment project in the case of a large enterprise and 3 years in the case of a SME. Grants – Eligible Expenditure
Grants – How much? The amount of assistance which may be available from ranges from £10,000 to £1,999,999. Applications for grants for £2 million and above are handled directly the Department for Business, Enterprise and Regulatory Reform (BERR) in London.
Grants – How do you apply? Application Forms Business Plan Supporting documentation Accounts Evidence of funding
Grants for Research & Development (GRD) Grant for Research and Development aim to support research or development work on technologically innovative products or processes. This is achieved by encouraging businesses to carry out R&D activity that they might not otherwise undertake and by helping to lever in other private finance. Who is it for? Individuals, start-ups or established businesses with an innovative proposal to either develop a pre-production prototype or to conduct research that moves a concept closer to commercial realisation. Micro Project: Small scale projects lasting up to 12 months in Micro enterprises (those having less than 10 employees and either less than €2m sales or less than €2m of asset value). Grants are 45 per cent of actual project costs and the maximum grant is £20,000. Research Project: To produce new scientific or technical knowledge, projects lasting 6-18 months in Micro or Small businesses (those having less than 50 employees and either less than €10m sales or less than €10m of asset value). Grants are 60 per cent of project costs. The minimum grant is £20,000 and the maximum £100,000. Development Project: To develop a pre-production product or process prototype, projects lasting 6-36 months in an SME (those having less than 250 employees and either less than €50m sales or less than €43m of asset value). Grants are 35 per cent of project costs, minimum grant is £20,000 and the maximum £250,000. Exceptional Development Project: As for Development Projects but with justifiably higher costs and which may be of strategic importance to the UK. Minimum grant is £250,000 and the maximum £500,000, the intervention rate is negotiable up to 35 per cent of project costs.
RDPE - A new approach for farms & rural cases The Rural Development Programme for England (RDPE) is a funding scheme for land based businesses (farmers, growers, foresters, and primary processors), rural tourism organisations and other small rural businesses. The RDPE has a budget of £3.9 billion. This is more than double the budget available for the previous programme which ran from The RPDE aims to safeguard and enhance our countryside, to improve the competitiveness and sustainability of our rural businesses, and help communities to thrive. The programme which runs until 2013, is funded jointly by the EU through the European Agricultural Fund for Rural Development (EAFRD) and the UK Government. The RDPE will be delivered through a number of activities including Small Capital Grant Schemes, Strategic Investment Grants and Action Plans. Delivered through Regional Development Agencies.
MCS MCS is an independent consultancy providing specialist advice and professional support to businesses wishing to apply for and access government grants and other publicly funded incentives. MCS has successfully handled grant applications for clients ranging from £50,000 to £5 million.
Clients Micro Businesses to international groups Sectors Chemicals Precision and Automotive Engineering Food and Agriculture Environmental Engineering Manufacturing