What is the Business Growth and Digital Growth Grants?
The Business Growth and Digital Growth Grants (GLLEP) offer ranges from £1,000 – £5,000 and can contribute between 40% and 50% of your overall costs. In order to qualify, your business must meet certain criteria and be located in the Greater Lincolnshire area and you must have discussed and agreed your activity with a Business Lincolnshire adviser.
The grants are available through two seperate strands, they can be seen below:
- Lincolnshire Growth Hub Business Growth Grant (BGG) To purchase items such as equipment, software and specific consultancy support not available through programmes operating in the GLLEP area.
- Digital Growth Grant (DGG) To help fund the implementation of internal ICT solutions such as e-commerce platforms; website; cloud data storage storage solutions; digital management systems.
Capital or Revenue or Both?
The application can either be for a capital or revenue grant. A mixture of both types of expenditure in a single application is not allowable.
Percentage of project cost
Enterprise
Capital Grants between £1,000 – £5,000 at 40% grant / 60% match
Revenue Grants between £1,000 – £5,000 at 50% grant / 50% match
In order qualify for each of the following grants your business must meet the following criteria:
An SME as defined by the EU definition. This means your company or group of companies must have:
- Fewer than 250 employees
- A turnover less than or equal to €50 million OR
- A balance sheet total less than or equal to €43 million
Able to demonstrate the intention to grow/improve – (through creation of increased turnover, increased jobs and/or introduction of new products and services including processes)
Businesses operating mainly in the following sectors are unfortunately not eligible for the grant:
- Fishery and aquaculture
- Primary production, processing and marketing of agricultural products
- Coal, steel and shipbuilding
- Synthetic fibres
