Selective Finance For Industry In England

The scheme closed to applications as at 1 December 2006. A replacement scheme of funding has yet to be agreed, and so announcements are awaited in early 2007. For updates, please either contact us, or alternatively look at the SEEDA website: www.seeda.co.uk

The grant is open to small and medium sized businesses in Hastings, Bexhill on Sea, and Rother, as well as other areas in East Sussex.

This is designed to promote economic regeneration by encouraging investment projects in Assisted Areas of England that would not otherwise happen.

SFI takes the form of a discretionary grant administered by SEEDA, The South East England Development Agency, on behalf of the DTI. The grant is up to 15% of eligible costs, and can be used to :

• launch a new business
• modernise, expand or reorganise and existing business
• upgrade a business by introducing technological, or other innovatory improvements
• take a new product, service or process from the development stage to production

The minimum grant is £10,000, which requires a minimum investment of £67,000, and a company could receive up to a maximum of £100,000 in SFI grant aid, possibly spread over several applications, but usually for different projects.

It is intended that the projects should lead to long term improvements in productivity skills and employment.

Ten Sixty Six Enterprise will act to help facilitate the application process from initial discussion to final agreement as appropriate. Applicants should be within the definition of a Small or Medium SIzed Enterprise (SME).

For an individual discussion regarding eligibility for the grant, based on existing guidelines, please contact Jeremy Green, at Ten Sixty Six Enterprise, on 01424 205503.

Further information can be found at

www.dti.gov.uk/regional investment

www.seeda.co.uk/Work_in_the_Region/Funding_&_Advice/Selective_Finance_for_investment_in_England

For an informal discussion call Jeremy Green on 01424 205503