Funded by the European Regional Development Fund (ERDF), Invest4 Business Growth Grants will provide your company with up to 30% toward your business investment. The grant applications can be for between £1,000 and £20,000, (capital or revenue), and are for businesses that have identified or secured funds to invest in their own business growth and are able to evidence that they have the 70% necessary to obtain an Invest4 grant and fund the entire project in the first instance.
This grant is aimed at trading businesses, (including not-for-profit organisations and charities with a trading arm) based in the Coast to Capital area, or with significant trading in the area, which covers Greater Brighton City Region, West Sussex, and East Surrey Coast to Capital Local Enterprise area. This grant is for trading businesses only, therefore charities and not-for-profits that do not have a trading arm cannot apply.
This grant is for businesses with less than 250 employees, less than £30m on their balance sheet and, less than £40m turnover. It exists to support business resilience and growth. The growth and resilience measures must include either job creation; increase in turnover, productivity, or profitability; or introduction of new products or services to the business.
The Invest4 grant can be used to pay for equipment and machinery; for new IT systems or IT system upgrades; to move all or part of your business online; for website improvement or launches; Leadership and Management development.
This list is incomplete, if you are unsure, please contact the Business Hothouse partner you are working with or the Invest4 team.
The Invest4 Business Growth Grants can contribute up to 30% toward your business investment. You will have to provide the other 70% of the total project cost, known as match funding. You will be asked to state where the match funds are coming from and provide evidence in your application.
The Invest4 grant fund is part of the European Regional Development Fund. As this is public funding it is seen as a fund of ‘last resort’. You will be asked to explain what alternative funding sources you have investigated and why they were rejected in favour of applying for the Invest4 grant; for example, the bank repayment terms or equity requirements.