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North Lincs UK Shared Prosperity Fund Business Grants

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What is the grant available for?

Business Capital Grant
The Business Capital Grant aims to provide financial assistance to businesses with the primary goal of supporting their investments in capital assets. Capital assets typically include long-term assets such as machinery and equipment, that are essential for business operations and growth.
The program is designed to help businesses future proof their operations by facilitating the acquisition of key assets that contribute to increased productivity, efficiency, and competitiveness.
Business Sustainability Grant
The Business Sustainability Grants prime objective is to support businesses in reducing their energy related overheads whilst also seeking to reduce the regions CO2 emissions as a direct result. This will allow businesses to increase their profit margins, protect employment for residents of North Lincolnshire and the localised economy. Its aim is to support those businesses seeking to invest within the region; in technologies and products that will directly reduce their energy consumption, reducing their overheads and CO2 emissions by offering financial incentives directly to support and promote these investments. This grant scheme is designed to allow businesses to invest in the short term for their longer-term sustainability and support the UK government to achieve a Net Zero economy by 2040.
Digital and Marketing Grant
The proposed scheme will offer revenue aid to businesses to help them invest and safeguard existing jobs but also seek to create further growth leading to new skilled employment opportunities for residents. The grant can cover businesses purchasing digital marketing campaigns, use of consultants to assess how to improve the reach of the business and/or the installation of new technologies as part of the wider project.

Any eligibility criteria

Business Capital Grant

This Capital grant can cover businesses investing in tangible and intangible assets, diversification of the output of an asset into new additional products, or a fundamental change in the overall production. This may include capital expenditure on the acquisition or creation of fixed assets.

Typical projects could be:

  • CNC Machines & Laser Cutters
  • Spray Paint Equipment
  • Industrial Printers and printing equipment
  • Shot Blast units & Compressors
  • Warehouse racking and Forklift trucks
  • Drones & Specialist video equipment but not software
  • Capital costs associated with building expansions, such as materials associated with new expansion or buildings (not acquisitions of new freehold or leasehold properties and/or refurbishment of existing land and buildings).

Business Sustainability Grant

Eligible Activities:

  • Energy production infrastructure – solar PV, biomass boilers etc.
  • Energy Efficient Products – LED lighting and associated energy saving technologies.
  • Building Improvements – Replacement boilers to more efficient or heat source pumps, improving insulation etc.

Typical projects could be:

  • Purchase of LED lights throughout the business property.
  • Purchase of solar panels on roofs for generation on behalf of the business.
  • Upgrade of inefficient boiler to a modern, hydrogen ready boiler.
  • Upgrade of inefficient heating systems to more eco-friendly solutions.
  • Purchase of supplementary battery storage systems associated with renewable energy production.
  • Purchase of EV charging stations.
  • Building Management systems to reduce energy consumption.

Digital and Marketing Grant

Eligible Activities

  • Digital Marketing – google ad words campaigns, consultant costs looking at digital improvements across the business. (Revenue)
  • Marketing Campaigns &/or marketing consultancy (Revenue)
  • Business growth consultancy support (Revenue)

Typical projects could be:

  • Purchase of new software to improvement customer management journey
  • Investment into AI technologies/software (please note – no support will be available for investment into any associated hardware for AI technologies).
  • Purchase of bespoke software to deliver a new service/product.
  • Contribution towards a digital marketing campaign
  • Procurement of marketing consultants to develop a new marketing strategy for a business looking at growing its client reach.
  • Moving a current website from regional / nation to international market – to increase existing export potential.

What grant amounts are available?

Business Capital Grant

Small and Micro Businesses – Maximum amount of funding £5,000 up to a 40% intervention rate

Open to All Sized Businesses – Maximum amount of funding £50,000 up to a 30% intervention rate

Business Sustainability Grant

Small and Micro Businesses – Maximum amount of funding £5,000 up to a 40% intervention rate

Open to All Sized Businesses – Maximum amount of funding £30,000 up to a 30% intervention rate

Digital and Marketing Grant

Open to All Sized Businesses – Maximum amount of funding £10,000 up to a 40% intervention rate

Who provides the grant?

Government

How to apply for the grant?

To find out more please click here.

Contact information:

https://investinnorthlincolnshire.com/funding/uk-shared-prosperity-fund-business-grants

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