Capital Investment GrantsWhat are they?BERR (formerly the DTI) provides capital investment grants to businesses that are undertaking investment projects but need financial help to go ahead. Known as Selective Finance for Investment, these grants are available for projects in certain qualifying areas of the region (called Assisted Areas). Businesses of all sizes are eligible to apply and are assessed against specific criteria.Assistance is provided to:- Launch a new business
- Expand / modernise / reorganise an existing business
- Upgrade a business, introducing technological or other innovative improvements
- Establish research and development facilities
- Take the next step from development to production
Eligible projects must meet the scheme criteria. Levels of support can be significant and depend on the quality of the project and its impact on productivity and skills. Funds are usually payable in instalments on reaching fixed capital expenditure and job targets which are mutually agreed during the appraisal of your application. The minimum grant that can be applied for is £10,000, so you will need to be spending between £70,000 and £135,000 to trigger the minimum amount of grant. This will depend on the location of your project and the size of your business. Am I eligible to apply? Contact us today to find out :info@capitalgrants.co.uk or call us for an initial discussion on 0870 240 3933 Interested in knowing how much has been given out under the SFIE scheme? | | 2007 | 2006 | | | Amount | Nos of Grants | Amount | Nos of Grants | | East of England | £4.1m | 5 | £4.3m | 13 | | East Midlands | £4.7m | 16 | £3m | 23 | | London | £0.66m | 5 | £1.9m | 5 | | North East | £15.7m | 76 | £12.7m | 97 | | North West | £10.3m | 46 | £18.5m | 39 | | South East | £0.3m | 4 | £2m | 3 | | South West | £2.7m | 11 | £4.2m | 3 | | West Mids | £15m | 40 | £10.9m | 32 | | Y&H | £6m | 42 | £8m | 45 | | Total | £59.8m | 245 | £65.9m | 294 | | | | | | | The data above is reflective of published BERR grant data on the SFIE scheme and relates to ALL offers made to successful applicants in England in Tier 1 & Tier 2 regions. On average over the past 3 years 90% of all offers have been over £75K with the largest being £6.8m to a large multinational manufacturer. The scheme is aimed at English SME's who operate in the manufacturing and/or added value sectors. | |
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