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Coast to Capital Region Small Grants Programme
Coast to Capital is inviting start-ups, existing businesses and social enterprises that are looking to grow and create new jobs to apply for a small grant.
Grants of between £5,000 and £20,000 are available to eligible businesses but because the Local Growth Fund is in the form of a capital grant, it may only be used to fund the acquisition, enhancement or creation of capital assets which have a useful life of at least 12 months. Only capital items are eligible for expenditure for this grant programme.
Eligible expenditure items include but are not limited to:
*ICT equipment & Infrastructure
*Building works - refurbishment & remodeling
*Furniture & fittings & storage equipment
*Tools & other essential equipment
*Plant & essential building services
*One-off security equipment
*Commercial catering equipment & plant
*Retail fittings & point of sale equipment
Other project costs that are not included in this list may be met by the applicant's match funding but will not be eligible for grant funding from this programme.
This programme will only fund new activity and retrospective costs are not eligible. For the purpose of this programme new activity is defined as that happening after the grant agreement has been signed.
To be eligible businesses must be able to incur grant expenditure by 31st March 2016 and show how the grant will lead to new jobs - for every £10,000 provided as a grant Coast to Capital would expect at least one full time job (30+ hours per week) to be created and for a grant of under £10,000 we would expect at least one part time job (under 30 hours per week) to be created.
They must also be able to demonstrate other investment alongside the grant - Coast to Capital will provide up to 50% of the project costs as a grant and you will need to provide the remaining 50%.
Companies must also show how the project will have a positive impact on the local economy, show how it will benefit the local community and the local environment and show how the proposed new activity is additional to existing business activity and to the local economy.
They must also have premises in or be planning to create new jobs in the Coast to Capital areas of West Sussex, Brighton and Hove, Croydon, Lewes, Tandridge, Mole Valley, Epsom & Ewell, Reigate & Banstead
Applications are now open and businesses have until 12pm on Wednesday 8th July 2015 to submit an application.
Another round may be open later in the year subject to availability of funds. There is £250,000 available as small grants between now and March 2016.