North Worcestershire EDR – Booster Grant

Bromsgrove District, Redditch Borough and Wyre Forest District Councils jointly fund a £2,500 Business Booster Grant which aims to help young, full-time but growing businesses, make a step change in their development.

The Booster Grant is designed to support businesses that are not eligible for other grants.  Receipt of a grant may exclude you from other grant programmes.

 

CRITERIA –

THE BUSINESS:

  • Must trade from business premises within the local authority areas of Bromsgrove District, Redditch Borough or Wyre Forest District Councils. If you do not trade from business premises please contact us to check eligibility;
  • Must have been trading for more than 2 years, predominantly business to consumer; or
  • Must have been trading for more than 3 years, predominantly business to business and with no immediate plans to create additional employment;
  • Must have at least one full-time employee for whom this is their sole employment;
  • Must have a current Business Plan, be profitable and solvent (1 full year’s accounts must be provided).

THE APPLICATION:

Must explain the business’ expansion plans and how the grant will be used to achieve these. The information should include how the grant will be used to

  • Help the business to access new markets or customers
  • Create new jobs

Three quotations or estimates for each item or service to be purchased must be supplied with the application.  Please use local businesses wherever possible.  (See www.finditinworcestershire.com for local suppliers).

The use of consultants or third parties in completing the application form is discouraged and is an ineligible cost.

THE GRANT:

  1. Grants will be limited to one per business, per applicant, on a first-come, first-served basis
  2. Successful applicants will be offered 50% of the costs of an eligible project, up to a maximum of £2,500. At least 50% of costs must be funded from the business’ own resources.
  3. The grant may not be used for recurring costs (including salaries, stock, rent, business rates, utility charges, repairs & renewals etc.) or for the repayment of existing loans or debts. Other restrictions apply to businesses that trade predominantly B2B including product development, energy efficiency improvements and cyber security products for which other funding may be available.
  4. The grant is not retrospective and cannot be used for the reimbursement of goods and/or services already purchased before the date of the offer letter.

For all programme information and details of how apply please contact the team on 01905 677 888 or email info@worcestershiregrowthhub.co.uk.

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