GAIN Growth Fund+ Opens for Applications (South West)
Plymouth and South West City Deal Partners have announced that the Gain Growth Fund + is open for applications.
Through the Fund, grants are available to assist businesses across the South West (in Cornwall, Somerset and Devon; including Plymouth and Torbay), to grow and create new jobs. Eligible businesses are able to apply for small grants of between £25,000 and £150,000, and between £250,000 to maximum £1,000,000 for larger applications. The money is designed to enable business growth and the creation of new employment, through the delivery of a specific project. The business’ project is expected to take no longer than 12 months from start to finish. All of the Fund’s money must be spent by 31st March 2015. The funding will be available to pay for a range of things from purchasing capital equipment and specialist software, and improving business premises, to recruiting skilled employees who have the potential to transform a business – such as software developers or engineers. It cannot be used to fund working capital or speculative property development.
The first grants are likely to be made in April of this year, and bids will be appraised on a rolling basis until August 2014, when the final awards will be made.