The money comes from the European Regional Development Fund (ERDF). Stoke-on-Trent & Staffordshire Growth Hub is helping companies to apply for capital grants up to £10k.
To be eligible for a grant a firm must:
- Have been trading for at least 12 months.
- You must be a small to medium-sized business based in Staffordshire
- You must fall under certain industry sectors
Nicola Kent, who runs the Growth Hub said:
“We particularly want to hear from those in the manufacturing and engineering industry, but most Business to Business organisations can apply.
“We successfully applied for £800k from the ERDF for a three-year period. We have £400k left to distribute to Staffordshire businesses before the deadline and I would urge companies to apply, as any money that is not used will go back to the EU.
“It’s a simple five-page application, which just asks you questions about your business and what the money will be spent on.”
The grants are for capital projects and can be used to purchase business equipment or machinery. The money can also be used for construction and fittings associated with expanding premises. Up to 53% of the total project cost can be claimed up to a maximum of £10k.
LEP Chairman David Frost CBE said:
“Small businesses are the backbone of the economy and we want to help them grow. This grant can help provide businesses with vital equipment such as servers and computers for new staff, or manufacturing machinery such as saws or robotic plasma cutting plates.”