One of the most popular questions we often get asked is; "Are there any grants available at the moment?" or "Can i get a grant towards that?".
With that in mind we thought it would be worthwhile to share news about a grant that is availble to North East Businesses with a deadline of 25th March 2016.
Strategic Economic Infrastructure Fund (SEIF)
There has been a capital funding call for the Strategic Economic Infrastructure fund (SEIF) which is open until 25th March 2016. This grant fund is designed to stimulate investment in the development of business infrastructure in rural areas, including the following;
- Premises for new micro enterprises
- Small firms needing move-on accommodation, and
- Facilities for larger and growing businesses.
This north east business grant will also support investment in strategic tourism assets, transforming the quality and added value of the rural tourism economy, as well as supporting infrastructure works needed to unlock employment development sites.
From our knowledge there are no firm minimum and maximum grants however projects requiring less than £40,000 will have to clearly demonstrate strategic impact in their community and why other rural funding may be unavailable to support such projects. Any project seeking over £500,000 would need to be clearly of regional importance to the rural economy and also be able to offer a range of economic benefits beyond a local level.
Applicants must provide a minimum of 60% match funding and will need to comply with the usual state aid rules that apply to these grants. Please also note that if work has already started on a project it is ineligible for this grant.
This grant is administered by the Rural Growth Network who are inviting project applications that are;
- A strong fit with the guidance
- Can progress quickly if selected
- Are able to commence and make significant progress on site in 2016/17
- Are physically located within the North East RGN operational boundary.