Grants to grow your Business Narinder Pooni Economic Growth & Investment Officer LLEP

What is the LLEP? LEPs introduced by Government through the Localism Act LLEP is one of 39 national LEPs formally recognised by HM Government Partnership between business, local authorities, Higher Education and Further Education

Key Priorities 3 Main Priorities: - Place - People - Business

About RGF £3.2 billion Government fund Aim: To help companies to grow Supports projects / programmes committed to deliver sustainable jobs and economic growth Total grant programme equals £21 million in Leicester and Leicestershire

ProgrammeAreaMin GrantMax GrantRatio Avg. cost per job Sectors Enterprising Leicester City£1,000£25,0001:1£10,000 Must be trading business to business i.e. Non-retail. Care and Financial Services are also excluded Enterprising Leicestershire County£5,000£25,0002:1£10,000 RGF Round 3 City & County £25,000£150,0003:1*£7,500 RGF Round 4 City & County £150,000£1million 4:1** 9:1*** £12,500 * Subject to availability** < 50 employees*** > 50 employees

Eligibility For SMEs based in the County of Leicester and Leicestershire or looking to move into the area Commit to job creation/safeguarding Trading business to business Projects must be capital based i.e. machinery/plant Commit to project completion by 31 st March 2015

Points to consider Retrospective funding is not eligible Procurement to test the market and prove VFM Clearly explain how the grant will add benefit to the project and lead to job creation/safeguarding Additional documents are required e.g. Accounts and Financial projections Grants over £25k are subject to 1% cost, to the applicant, for Due Diligence

Process Project Director and Accountable Body Sign off Project Director and Accountable Body Sign off Quality Assurance (inc. Due Diligence) Grants Panel Financial Assessment Full Application + supporting evidence (on-line) Full Application + supporting evidence (on-line) Grants Manager Assessment Expression of Interest (on-line) Expression of Interest (on-line)

Case Study: RGF 3 Engineering Company Summary: Bring forward the purchase of a laser cutting machine by 18 months. New machine up to 50% faster, increasing competitiveness. Project cost: £485,000 Match from Business: £378,750 RGF Grant: (up to 25%) £106,250 Sources of Business (Private)match: Various Job outputs: 5 jobs created, 10 jobs safeguarded

Progress

National Grants (Application direct to Government) RGF Round 6 Projects requiring grants over £1m Must be capital based i.e. machinery, plant LLEP can assist – letters of support and data etc Information can be found at: Growth Vouchers Government Pilot Project- vouchers up to £2000 Maximum available = 50% of total cost Application can be made at:

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