Grant for Business Investment offers grant support for sustainable business investment and job creation projects in disadvantaged areas in the East of England
What is it?
Grant for Business Investment (GBI) forms part of 'Solutions for Business' - a highly targeted, publicly funded suite of products and services offering solutions to real business needs and tackling market failure.
GBI is a national scheme, managed regionally by EEDA, supporting businesses to make investments to set up, expand, diversify and modernise. Typically, a grant is offered to support the acquisition of key assets, such as buildings, plant and machinery and to support the creation of new jobs or to safe guard existing ones.
Grants will, on average, cover 10 to 20 per cent of the project's total cost. £10,000 is the minimum grant value available.
Am I eligible?
Businesses of all sizes can apply for GBI, but those that are not small or medium sized enterprises (SMEs) can only apply if the investment projected is located within an Assisted Area (certain areas of Luton and Dunstable).
Most industry sectors are eligible for support. However, specific industries are excluded by national and European rules (e.g. agriculture, farming and fisheries, the coal, steel and synthetic fibres industries, transport and shipping) Click here for details of further possible sector restrictions.
What are the assessment criteria?
The company undertaking the investment project must be viable and the project must have a good chance of being self-sustaining by the completion of the investment
The investment project must deliver an improvement in productivity, based on the value of gross valued added per full-time equivalent employee measured against the sector and national averages;
The project should contribute positive benefits to both the regional and national economy; and
Larger projects must create or safeguard skilled employment.
Other considerations which apply will be taken into account on a case by case basis.
How do I apply?
Applications can be made all year round.
The first step is to complete and return a pre-application questionnaire to check for any initial restrictions that may apply. You may then submit a full application which must be accompanied by various supporting documents. A checklist is provided towards the end of the application form.
This grant is run by the Regional Development Agency - East of England Development Agency (EEDA).
For further information and application details please visit the EEDA Website