We are pleased to launch the SK Business Growth Grant to local businesses across the district. This fund gives businesses the opportunity to apply for funding to support productive investment and service improvements and achieve business growth and diversification.
Funded from the UK Shared Prosperity Fund, the grant offers between £1,000 - £5,000 for either capital or revenue projects at an intervention rate of 35%,. So if your project has a total budget of £6,000, an intervention rate of 35% results in a funding request of £2,100. The maximum funds that can be awarded are £5,000.
Eligibility criteria for the SK Business Growth Grant:
- You must have less than 250 employees
- Your annual turnover must not exceed £40m
- Applicants must hold an active business bank account
- You must be registered with HMRC or Companies House
- You must have been trading for over 12 months from the date of your expression of interest
Eligible project examples:
- Developing products and promoting South Kesteven from within the visitor economy
- Purchasing advance technology to improve your business
- Hiring specialist consultancy support
- Investing in research and development to develop innovative products and services at a local level
- To support feasibility studies
- To help your business develop processes, systems and accreditation
- To support decarbonisation & improving natural environment
- For the purchase of certain types of office equipment
Ineligible project examples include:
- Purchase of land or buildings
- Vehicles or other mobile infrastructures
- Essential running costs, including salaries
- Paying off debts, outstanding taxes or legal obligations
- Replacement of old or dilapidated machinery
- Stock acquisition
To apply for the SK Business Growth Grant please complete and submit an Expression of Interest form and email this to SKBusinessGrowthGrants@southkesteven.gov.uk