The D2N2 Growth Hub continues to offer grant funding towards business productivity and efficiency projects, which is proving popular with local businesses.
The Business Investment Fund (BIF) will enable the Growth Hub to issue grants of between £3,500 and £20,000, which can contribute up to a maximum of 35% of an eligible project’s costs.
The scheme is open to small and medium-sized businesses across the region who are looking to make a step-change in their business with projects that will improve productivity, efficiency or result in job creation. These may include:
- digital developments
- specialist consultancy such as leadership and management
- equipment purchases
Only projects that can clearly demonstrate that investments will lead to a step-change in the activity of the business will be supported.
Chris Pook, D2N2 Growth Hub Manager, said: “This funding has been welcomed by local businesses and has contributed to improving productivity in our economy.”
“These are challenging times for business but many have found that investing in new ways of working has helped them to become more resilient and successful.”
In some circumstances, grants of more than £20,000 can be supported where evidence of exceptional outputs can be provided by the applicant.
The BIF is funded by the European Regional Development Fund.
Business Investment Fund
The Growth Hub, set up to boost competitiveness amongst SMEs in the Derbyshire and Nottinghamshire region, is part-funded by the European Regional Development Fund (ERDF) via D2N2.
As part of its remit, the organisation offers support to start-ups, growing businesses, and companies who are ready to scale up their operations.
The D2N2 Growth Hub has access to a variety of funding solutions for businesses and their business advisers will help guide SMEs to the best meet the needs of their business.
Interested applicants for the BIF should see the how to apply section of the D2N2 Growth Hub website.