What is the Stoke-on-Trent and Staffordshire Grants for Growth?
Stoke-on-Trent and Staffordshire Grants for Growth, part-funded by the European Regional Development Fund (ERDF). Capital grants are available between £10,000 to £100,000 on a variable intervention rate of ten per cent up to 30 per cent, which must be matched by your own private sector or other equity funds.
Grant funds can be used to expand your premises, buy plant, equipment and machinery, website development or advice and consultancy. Grant intervention rates will vary up to 30% for Capital Grants and 60% for Revenue Grants
the final amount will be dependent on the project value, the tested gap in finances, state aid intervention rates and the number of jobs created. Funding will be offered at the minimum deemed necessary for the project to proceed, but in any event the average programme grant funding will not exceed £8,920 per job created.
Grants are available for SME’s within eligible sectors that have been trading for at least 12 months and who qualify as a commercial activity ( for up to 60% of the cost with a maximum grant of £3,000 (minimum grants of £1,000). Minimal Total Project Cost must be £1,700).
Eligibility Criteria
- Located within the Stoke-on-Trent & Staffordshire LEP area
- Fulfil the full definition of an SME trading 6+ months
- Have received less than £200,000 of state aid assistance in the last 3 years
- Pay business rates to one of the local authorities within the SSLEP area (these must be not be in arrears)
- Fit within certain sectors
