Business Growth Programme BGP2 offers grants between 2,500 - - - PowerPoint PPT Presentation

Business Growth Programme

BGP2 offers grants between £2,500 - £1,000,000 and is designed to stimulate innovation, help businesses grow and at the same time strengthen supply chains. Two strands: Grant funding is typically 50% of total project costs so total project costs need to be at least double the minimum grant. Grants are limited to £10,000 per job created. Jobs need to be permanent, at least minimum wage and 36hrs p/w (various options). Start ups Existing SMEs £2,500 - £10,000 £10,000 - £1,000,000 Minimum grant £2,500 Minimum grant £10,000 Maximum grant £10,000 Maximum grant £1,000,000

Business Growth Programme

• Only available to businesses who operate on a B2B basis (80%).
• Projects must be completed within four months and jobs must be in place within seven months of

receiving funding agreement (nothing to take place ahead of this).

• Applicants match funding can be from company funds, overdraft or loan but no HP.
• Capital costs only so no revenue such as salaries, overheads, utility bills etc.
• Eligible costs are varied: manufacturing machinery, CNC tooling, CRM/ERP systems, office furniture

such as desks, chair, alterations to premises when relocating (e.g. stud walls, carpets, blinds fixtures and fittings), 3D printers, computer hardware, rebranding and website development, developing marketing strategies.

• As the local delivery partner we can support you through application process - includes application

form, two years accounts, cash flow forecast, PAYE, evidence of match, quotes/tender.

• Programme finishes in December 2021.

Business Growth Programme

K4 Architects, High Street, Bromyard

Before After

Business Growth Programme

Nadine Kinsey Economic Development Officer Email: nkinsey@herefordshire.gov.uk Telephone: 01432 260706 www.marchesgrowthhub.co.uk