The grant is funded by the European Regional Development Fund (ERDF) to support the costs of working with an external expert/coach of your choice to implement a pre-agreed Growth/Improvement Action plan. The scope of the Growth/Improvement plan will be specific to each applicant’s growth needs and will be agreed in advance with our Manufacturing Growth Manager. It will typically cover:
An average project value of £4,000 of support would attract a 35% Grant contribution (Minimum grant applications accepted: £350). Larger grants may be considered for exceptional cases (subject to panel approval) for projects demonstrating significant job/new product growth and higher level of applicant contribution (ie >65%).
To apply you must be:
1. an SME as defined by the EU definition. This means your company or group of companies must have:
a. Fewer than 250 employees
b. A turnover less than or equal to €50 million OR
c. A balance sheet total less than or equal to €43 million
2. A manufacturer, defined as:
“A business that engages in any economic activity directly related to a product or production process they have researched, designed or produced, or otherwise hold core intellectual property in.”
If you are unsure if you meet this definition, please get in touch with your local MGP team.
3. Able to demonstrate the intention to grow/improve – (through creation of increased turnover, increased jobs and/or introduction of new products/services/processes)
Businesses operating mainly in the following sectors are unfortunately not eligible:
Grant supported Growth/Improvement projects must be completed, paid and claimed for within 4 months of grant confirmation.
SME beneficiaries are at liberty to select any consultant/coach of their choice provided they can evidence adherence to EU procurement rules requiring them to invite a minimum of 3 quotations for the work and justify value for money in their selection.
Economic Growth Solutions Limited
Mobile: 07990 358527
Address: Economic Growth Solutions Limited, Business Park, Nottingham Road, Melton Mowbray, Leicestershire, LE13 0PB