UKSPF Business Enterprise Fund - Round 4 - Grants

Round 4 - If you have filled in an expression of interest (EOI) and have been invited to submit a full application the deadline to submit your full application and supporting papers is:

• Midnight Sunday 12 May 2024 (subject to budget still being available)

See What happens next below.

Please read the background information before completing the expression of interest.

The UKSPF Business Enterprise Fund is a capital equipment grant scheme that has been funded by the UK Shared Prosperity Fund. Its aim is to enable Herefordshire businesses to increase their productivity and become more resilient through the adoption of new (to the business) technologies and processes.

The new item or asset must create a new process within the business or lead to the adoption of a new technology . This must help to reduce the business's carbon usage directly or can show a wider sustainable environmental benefit.

• Businesses physically located in Herefordshire
• The trading activity and investment must take place within Herefordshire
• Businesses that have been actively trading for more than 6 months

• Businesses involved in primary production (farmers). Funding for this type of business is available from Defra Funding for farmers
• Start-up businesses (trading actively less than six months)
• Public authorities
• Town and parish councils
• Voluntary groups
• Social enterprises that are not involved in economic activities
• Businesses where the majority of income comes from public sources
• Franchise businesses / national chains
• Non-economic activities
• Gambling / betting establishments
• Any business activity that is illegal or deemed unsuitable for public support by Herefordshire Council
• Businesses whose registered address is in Herefordshire but no trading activity is in Herefordshire.

• Capital equipment that enable the business to introduce a new (to the business) technologies or processes to be adopted
• Individual items that cost £500 or more
• The asset / new process and technology must show how it will help to reduce the business's carbon usage directly or can show a wider sustainable environmental benefit
• Items must be retained until March 2025 or 12 months post final grant payment (whichever is the longest period)
• The grant has to be match funded by the applicant's business. This is the difference between the grant you are seeking and the remaining cost of your project. The source of the match funding cannot be from other public funds for the item you are purchasing

• Purchase of land or buildings
• Revenue costs/running costs, for example consumables, stationary, salaries
• Stock items
• Services, for example solicitor fees, legal insurance
• Marketing, software licences and websites
• Training
• Renewable energy only installations projects
• Corporate responsibility items - health and safety, DDA
• Like for like replacements of obsolete equipment with little or no added value
• Furniture
• Computers (only considered if critical for adoption of new technology)
• Mobile infrastructure, for example vehicles, trailers
• Items purchase through hire purchase agreements
• Second hand if not covered by six month warranty and has not been previously bought with a grant
• Individual items less than £500 in value (exceptions maybe considered)

Capital grants are available for businesses to help them purchase equipment, up to 50% of the total project costs.

• Minimum grant £1,000 - project costs must be at least £2,000
• Maximum grant £35,000 - project costs must be at least £70,000 (a higher grant may be considered in exceptional circumstances)

Complete the expression of interest form

If you submitted an Expression of Interest form, this will be reviewed and if your project meets the minimum requirement you will be invited to submit a full application with supporting papers.

The deadline for submitting the full application is Midnight Sunday 12 May 2024. Full applications submitted by the deadline will be prioritised. Late applications may be reviewed by Round 3 deadline (7 April 2024) or held back to next deadline Round 4 (12 May 2024), subject to grant funding remaining to be allocated. You will be required to submit (along with your full application form):

• Two or three quotes per item
• Bank statement or other match funding evidence
• Previous years accounts (including profit and loss) (up to three years) and
• 12 month cash flow forecast

If your application is successful:

• You will need to accept the grant offer before placing an order for the items
• All projects must be practically and financially completed by 31 January 2025 (if not earlier)
• Grant will only be paid on receipt of a grant claim form, invoices and evidence that the items have been paid in full and delivered to your business address in Herefordshire. Grant is not paid in advance
• You cannot pay for any grant aided items with cash

If you would like to discuss your proposal before completing the form, please contact the Programme Team on 01432 260787 or 01432 260662or via email to bef@herefordshire.gov.uk

Read more about the UK Shared Prosperity Fund.

UK Subsidy Control Regime

This grant scheme will be administered under Minimal Financial Assistance rules. Applicants must ensure that they are compliant with the UK subsidy control regime. You are asked to confirm this within the full application form.

No work/or items to be ordered before grant offer letter received

Please note: Items cannot be ordered or purchased before you receive a grant offer letter. If an order has been placed prior to acceptance of the grant offer the grant offer will be withdrawn.

This is the third and fourth call (deadline) for applications. If budget remains after this call further application deadlines will be advertised.

The earliest we will communicate decisions to applicants will be in May 2024 (Round 3 submission) but this may be delayed, depending on volume of applications received. Round 4 decisions will be determined and communicated in June 2024.

For updates on other funding opportunities please visit the Marches Growth Hub website or contact the Herefordshire Growth Hub Team 01432 383343 or email business@herefordshire.gov.uk

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