CMN wants to alert its members to an opportunity to apply for a business grant that is being launched today by The Cornwall & Isles of Scilly Growth Hub delegated by the Shared Prosperity Fund (SPF).

This opportunity is rare as, since leaving the EU, there are very few schemes available that offer a grant contribution for both capital and revenue costs rather than loans or equity for businesses.

The designated grant offered to businesses can fall anywhere between the minimum grant value of £5,000 to the maximum of £200,000.  The grant will contribute up to a maximum of 50% (so total project costs need to be between £10k and £400k) and businesses will be required to cashflow the total project because grant payments are made in arrears.

Business will need to describe and evidence their intended outcomes, because the scheme will only fund activity that will ultimately help the business to grow. Applicants must be able to show how it will create a positive economic impact for Cornwall and Isles of Scilly as a whole.  Start-up businesses which are not already trading will not be eligible to apply for the scheme.

More information about the new grant scheme offering by C&IOS Growth Hub is available via their website. https://www.ciosgrowthhub.com/business-grants

To apply, contact the C&IOS Growth Hub team via the contact details on their website. Due to extensive interest, businesses who are considering applying are strongly advised to get in touch as soon as possible to avoid missing out.