Unlocking Business Investment
- Opens: January 2015
- Funding type: Grant
- Funding body: Central Government
- Key driver: Job creation
- Funding amount: £25,000 to £499,999
Similar to the GGF+ (City Deal) Growth Fund the Unlocking Business Investment (UBI) fund is run by Plymouth University on behalf of its partner North Devon Plus. The fund covers any SME based across Devon, Somerset (not North Somerset), Plymouth and Torbay.
The grant funding will be applicable to a range of projects and expenditure, including:
- Purchase of capital equipment;
- Premises modifications, refurbishment, fit out;
- Capital build projects (including site servicing and preparation);
- Purchase of software and IT equipment;
- Site / lease purchase costs and commercial rents;
- Training and Recruitment costs and salaries of employees who will have a substantial impact on the business and whose employment will move a business plan on materially.
Priority is likely to be given if you can show value for money by providing funding from other sources. On average businesses will probably need to provide around £65 to every £35 granted (an intervention rate of 35%). This intervention rate may drop to 15% in certain circumstances, dependent on location and project.
The intervention rate of £ per job role created is likely to be £10,000 - £15,000 of grant funding per sustainable job role.