The Business Lincolnshire programme offers companies access to grant funding, which is intended to support clients to grow their business.
Grant support for:
- Developing / implementing elements of their growth strategy;
- Improving the financial readiness, structure and systems of business;
- Support the business to develop processes, systems and accreditation’s to access supply chain opportunities;
- Assist the business with resource efficiency processes, practices, and solutions;
- Improve the leadership and management capability of the business
Qualifying projects could include:
- Purchase of advanced technology to progress the business product line / expand operations;
- Design and build of bespoke innovative systems;
- Development, testing or launch of new products and services;
- To support R&D for the above;
- Design and build of prototypes for new systems / equipment;
- Purchase of specialist consultancy support to enable the above
The grant funding CANNOT be used to fund the following:
- Purchase of “standard” office information technology equipment. For example laptops, or PC’s unless this has been highlighted as a business need within the Action Plan;
- Paying off debts or refinancing;
- Purchase of land or buildings, or financial investments;
- Salaries, travel, or subsistence (unless in connection with any of the eligible categories);
- Ongoing normal business costs (i.e. business rates, overheads etc) or costs associated with a statutory requirement of the business;
- Any statutory or legislative obligations, duties or requirements;
- Any low carbon or renewable energy technology where the applicant would receive Feed in Tariff (FiT) or Renewable Heat Incentive (RHI) payments;
- Any costs which have already been incurred prior to the beneficiary receiving grant approval.
The minimum grant value is £1,000 and the maximum grant value of £10,000.
Grants between £1,000 and £2,999 in value are offered at a 50% intervention rate.
Grants between £3,000 ad £10,000 in value are offered at a 30% intervention rate.