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How can the grant for enterprise help you grow your business?

 

Posted on 7 October 2016

If you are currently trading as an SME in Nottinghamshire, Derbyshire or Lincolnshire, and you trade business to business, then the NBV Business Grant could help you grow and develop your business.

The NBV Business Grant is aimed at supporting the growth or development of existing micro, small and medium sized businesses based in Nottinghamshire, Derbyshire and Lincolnshire. Once approved it can be used in a variety of ways to help your business grow or diversify:

  • Purchase of equipment such as computers, tools or machinery.
  • Use of consultancy services, for example, marketing, business advisory, sales strategy, IT projects, etc.

Grants ranging from £1000 to £2500 are available, however, the grant can be no more than 25% of the eligible cost you will incur. That means your minimum project spend must be no less than £4000.

A point worth noting prior to accessing the funding is that you will be required to pay the supplier for the full cost of the project before claiming the grant element. It is, therefore, vital that you have the funds in place to cover these costs prior to submitting the application as no retrospective applications will be considered.

You will need to apply for the NBV Business Grant and this will take the form of a two stage process.

The first stage of the application process is to complete an expression of interest and submit this to NBV. Basic eligibility checks will then be carried out and, if successful at this stage, you will be asked to complete a full application.

For the full application you will have to complete an Application Form and provide supporting evidence in the form of 3 quotations for the items required. NBV are offering to help you in the completion of the application.

Once you have submitted the application it will be considered by the Grant Panel who will then determine which businesses they will support according to the funds available.

More information on the application process for NBV Funding can be found via https://nbv.co.uk/grant-for-enterprise-form/.

Should you want to discuss how to develop your business with one of our experts please contact us via our website www.smithcooper.co.uk.

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