The South West Growth Fund - Capital Investment
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Key Driver: The majority of the fund will be used to support capital investment.
Funding body Central Government
Funding amount £15,000 to £999,000
Next step EOI
Due date Now
SWGF SUMMARY DOCUMENT
We believe this fund is of high importance - there is a large amount of money up for grabs and we want to help as much of this funding go to local businesses as possible. We've put together an in-depth grant brief outlining everything you need to know about the grant. Click the button below to download the document.
Grants of up to £999,999 are now available to high growth businesses across the South West of England region, from Gloucestershire, Wiltshire and Dorset in the east, down to the tip of Cornwall and the Isles of Scilly in the West.
Applicant businesses need to meet a number of criteria in order to be eligible to apply for SWGF grants:
- The proposed project must be situated in South West England;
- The project must operate in an eligible industry sector;
- Project expenditure should comprise mainly or wholly capital expenditure although some related revenue costs such as professional fees, recruitment, relocation and training costs may be included;
- In some circumstances assistance may be available for training or R&D activities;
- The project must lead to the creation of new, permanent employment on the part of the applicant business in South West England (exceptionally this may include safeguarded employment);
- The project must be commercially viable and sustainable once SWGF funding has been awarded;
- The majority of the project funding must be obtained from private sector sources;
- The applicant business must be solvent and not subject to adverse legal, financial or regulatory actions; and
- The applicant must demonstrate why the grant is essential to enable the project to happen (grants cannot be used for retrospective funding).
Small and medium-sized enterprises may apply for funding towards investment projects throughout the South West Region. Large Enterprises are restricted to applying in respect of investment projects in the designated Assisted Areas only due to State Aid, except for certain categories of training or research and development.
Large corporate and private businesses, social enterprises and charitable organisations are eligible to apply.
Start-up businesses and inward investors may apply as well as businesses that are already established. However SWGF is not available to public sector organisations.
Businesses should be based in; Bath & North East Somerset, Bournemouth, Bristol, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, North Somerset, Plymouth, Poole, Somerset, South Gloucestershire, Swindon, Torbay, Wiltshire.
The majority of the fund will be used to support capital investment. This may include:
- Acquisition of plant and equipment;
- Motor vehicles;
- Furniture, fixtures and fittings;
- Computer equipment and software;
- Building adaptations and improvements;
- Site infrastructure (roads, drainage, services, landscaping etc) ; and
- Acquisition of land and buildings where this can be demonstrated to be the only or the best value route to acquiring the necessary project premises.
Some revenue expenditure can be included as eligible project costs. This may include:
- Rental costs of additional project premises;
- Premises upgrade costs;
- Research and development costs;
- Training costs for new staff or for existing staff on new equipment/processes;
- Recruitment costs;
- Relocation costs for staff or equipment;
- Legal and professional fees associated with the project;
- Salary costs of existing staff only where engaged in creating new assets (eg self-building premises or equipment); and
- Limited early-stage salary costs of new employees but not where this will be recovered as cost of sales.
A CHANCE TO TALK ONE-ON-ONE:
We also held an event concerning the SWGF in mid-September, which was a huge success. If you missed it, then don't worry. We're planning to hold similar meetings called 'Breakfast Briefings' on a quarterly basis in the future.
If you'd like to be notified when sign-ups for these open please email; email@example.com.
If you think you could benefit from this funding, or would like to know more about other funds you might be eligible for, please do not hesitate to contact us, on: