Business owners in Leicestershire are being urged to check if they are eligible for a growth grant from the Business Gateway Growth Hub before funds run out.
The Business Gateway service was extended last year after receiving an additional £2 million to provide business support to Leicestershire businesses recovering from the effects of Covid19. It has helped 78 businesses with grants totalling around £1.5 million so far.
To be considered for this grant Leicester or Leicestershire-based businesses must have been running for 12 months, trade business-to-business, have fewer than 250 employees and be looking to grow, innovate and create jobs.
With a £25,000 grant from the Business Gateway, knitted fabric supplier and manufacturer Shahtex Leicester invested in new computerised machinery which enables the family business to develop seamless garments.
Tejas Shah, Director of Shahtex Leicester said:
“I was naturally wary about the grant and the support because I was thinking ‘what’s their ulterior motive?’ It took me two or three meetings to realise that the Business Gateway had no ulterior motive, they were there to help. In the end, the support we received was more than just the grant. Now I know it’s there, why would I let it go?!”
The grant could be used for:
- New innovative technology products or services that improve business performance
- Premises improvement or expansion-related to business development
New products or services
- Upgrading capital equipment to enable a more technical or automated approach, or to reduce carbon emissions
- Marketing or promotional activity or other revenue costs to help the business grow or create jobs.
Please note these are examples, the eligibility and scope of each individual project will need to be considered before decisions can be made.
Currently around £400,000 remains in the pot for the Business Growth Grant aimed at Leicester and Leicestershire’s SMEs with ambitions to grow.
Helping businesses grow and thrive in Leicester and Leicestershire is an important foundation mission. To help us understand the needs of local businesses we conducted a Business Tracker survey the results of which can be read here.