One way we support local SME businesses is helping them find and obtain grants to help them grow. We know what grants are available, and how to successfully apply for them.
Our Grants Specialist, Phil Ward, works closely with all the local funding bodies so is always up to date with the latest news.
If you’re in the B2B market and are planning something new, always check if there’s a grant that could contribute towards the cost. Grants are designed to stimulate the local economy and your B2B business could be doing just that. Always ask!
Talk to Phil, tell him what you want to do, and he’ll be able to tell you if you’re potentially eligible for any grants. PLUS, keep in touch with him. Circumstances change and so could your opportunities.
We’ve spoken to so many businesses recently who have missed out on significant funding purely because they didn’t know about it! Was that you?
The Grow Hull & East Yorkshire (GHEY) Grant which has been funding major capital projects costs has now closed to new applications.
An alternative is the Spark Fund, with a potential of £120k maximum funding. There are three different grants within this framework, each providing 50% of project costs.
1. Innovation Grants. Are you doing anything innovative? In this context innovative means doing anything new that will improve your business. For example, you could be a manufacturing company wanting to implement a MRP system or purchase new machinery, or you could be looking at new ways of operating or making new products.
2. R&D Grants. Are you developing a new product or investing in a prototype or testing it? If you’re further along the new product development project, do you need new machinery? Are you developing new services or want to improve existing ones?
3. Low carbon R&D Grants. Is your business doing something to reduce its carbon footprint or developing a product or service that will help others reduce their carbon footprint? This can be anything from using less raw materials, fewer components, less packaging etc. It’s not just relevant to the manufacturing industry but any business looking to develop exciting new products, services or processes to drive your low carbon business ambitions.
Has any of this resonated with you? Do you think you’ve missed out on any grant opportunities?