#Grow

#Grow

The #Grow scheme is a new grant fund established to build on the momentum of Channel 4’s investment in the City Region, and the wider growth potential of the creative and digital sector.

The scheme will provide grant support to Small and Medium Sized Enterprises (SMEs) to unlock growth projects and develop greater capacity in the sector. Although there are a number of existing grant schemes linked to business growth across the City Region, the #Grow fund is designed specifically to meet the needs of this sector.

Businesses must:

Operate in the creative and digital sector

Be based in the City Region, which includes the local authority areas of Barnsley, Bradford, Calderdale, Craven, Harrogate, Kirklees, Leeds, Selby, Wakefield and York

Have been established for at least 12 months and must operate from commercial premises

Generate the majority of their turnover from trading with other businesses, or, their application must demonstrate how the grant-supported project will lead to this. (Businesses engaged in retailing or providing localised business to consumer services are not eligible for grant support)

Have a capital investment project of £20,000 or above. Grants of between £10,000 to £50,000 are available, covering up to a maximum of 50% of eligible costs, depending on the number of jobs to be created

Have private finance available: either their own, from a bank, or other commercial finance to invest alongside the grant (please note: the minimum total project cost is £20,000 - therefore businesses must have at least £1 of private sector finance to invest for every £1 in grant)

Demonstrate financial viability of the project and the need for grant support

Project’s must:

Consist of capital investment in equipment and/or, fit-out and refurbishment of buildings. (Please note: refurbishment or renovation projects will only be supported where the business will be the sole occupier within the refurbished or renovated business property)

Create at least one permanent full-time job. All jobs must pay at least the real living wage (currently £9 p/h). The maximum grant per job created will be £12,500*

For more information on grow visit the here.

If you are interested in Grant funding, skills development, recruitment and knowledge sharing please contact the business support team at Wakefield Council...

-kyallop@wakefield.gov.uk

 -pmshaw@wakefield.gov.uk