Grant for Business Investment.

This business grant was re-launched in October 2008, and aims to help SME businesses invest in capital equipment and technology to achieve gains in productivity, sustainable growth and skilled jobs.

Please note – as part of the Current Government Spending Review, no new commitments are being made. We shall monitor the situation carefully, and update this site as we have information.

The grant is discretionary – and would assist a business with up to a 20% grant of eligible expenditure, for small companies, and up to 10% for medium sized companies. The grant is available to businesses throughout East Sussex.

Eligible costs which may be included in a grant application are:

• Capital equipment and technology;
• Refurbishment of premises;
• Some lease or mortgage interest costs;

The Applicant company should be able to show a National and Regional benefit, so “local service providers” are unlikely to have a strong case to make in an application.

All applications are assessed for quality and value for money, and the scheme is currently managed by Finance South East.

All grants are paid in arrears, and in instalments – the minimum grant is £10,000 which would involve a minimum capital expenditure of £50,000.

Ten Sixty Six Enterprise is happy to assist in the application process – this is a two stage process, with an initial pre application questionnaire to establish suitability and then a full application to achieve a grant award. This service is initially at no charge to businesses in the Hastings and Rother area, and charges may apply for those businesses outside this area.
For an individual and confidential discussion please call Jeremy Green on 01424 205503, or e-mail jeremy.green@1066enterprise.co.uk

Further information can be found on the Department for Business Innovation and Skills website, www.bis.gov.uk and also on the website for Finance South East, www.financesoutheast.com