You may qualify for a 20% contribution towards capital expenditure on new equipment!

You may qualify for a 20% contribution towards capital expenditure on new equipment!

You may qualify for a 20% contribution towards capital expenditure on new equipment!                            

The Regional Growth Fund (RGF) is a £3.2 billion fund supporting SME investment operating across England.  There are currently schemes available via the RGF enabling qualifying businesses to receive up to 20% towards the cost of new capital equipment.

The level of grant support available is based on:

• The size of your business
• The location where the asset will be employed
• The amount of the investment
• Whether you could obtain funding towards the acquisition of asset purchases without support from the RGF
• One full time equivalent job must be created or safeguarded for every £10,000 of grant received up to a maximum of £500,000

Key features:

• RGF programmes are schemes run by national or local organisations that have been awarded RGF cash to offer grants and/or loans to eligible businesses
• A business must not meet normal lending criteria (e.g. you wish to purchase an asset but lack a sufficient deposit)
• Businesses must be investing private capital
• Businesses must be State Aid compliant
• Approximately 12 months after commencement of the grant and/or loan, your accountant/auditor will be required to provide formal confirmation that the commitment you made to either create or safeguard jobs has been fulfilled

If you would like more information, please contact Peter Atkinson on 01942 292500 or email peter.atkinson@jsllp.co.uk and we will arrange for a specialist to meet with you to discuss the schemes and eligibility criteria in more detail.
 

 

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