Growing Business Fund
How we can help you
The New Anglia Local Enterprise Partnership is calling for local businesses wanting to grow and create new jobs to apply for grants through the Growing Business Fund.
The Fund is made up of two programmes: a Small Grant Scheme, for grants between £5,000 and £25,000, and a larger scheme for grants between £25,000 and £500,000.
Both programmes are delivered by New Anglia LEP in partnership with Suffolk County Council and Finance East.
Small (including Micro) sized businesses may apply for a grant of up to 20% of the total project cost needed for investment, and be used to leverage funding from other sources, such as banks and other financial organisations, while Medium sized businesses may apply for up to 10% of the total cost of the expansion project.
Businesses based in an Assisted Area in either Norfolk or Suffolk may be eligible for the following levels of grant funding:
– Small (including Micro) businesses – up to 30%
– Medium sized businesses – up to 20%
– Large businesses – up to 10%.
To be eligible for grant funding, applicants must meet the following essential criteria:
- Be a trading and growing small or medium-sized enterprise;
- Be based in Norfolk or Suffolk;
- Be ready to invest, expand and recruit new staff in the local area;
- Be able to evidence secured match funding from private funds;
- Be able to prove a need to apply for a grant;
- Be able to create at least one new job for every £10,000 worth of grant.
- Additional criteria apply to Large businesses.
For more information on both programmes and to access the Grant Programmes Guidance click here.
If you are interested in applying for a grant or want to discuss your expansion plans, please contact the New Anglia Growth Hub who will assist you with the grant application process or advise you as to possible alternative business support programmes should you be ineligible.
The New Anglia Growth Hub can be contacted
on 0300 333 6536 or email email@example.com
Please note, we cannot be held responsible for any advice on eligibility you receive from third parties with respect to the grant programmes and we will not accept Expression of Interest forms through any route other than the Growth Hub whose services are free of charge.
To date, the Growing Business Fund has awarded grants worth almost
£13m to over 250 businesses across Norfolk and Suffolk
forecasting the creation of nearly 1800 jobs.
See the businesses we’ve helped HERE