Argyll businesses taking advantage of new grant to support growth

Published Date: 

11 Feb 2014 - 10:25

Three businesses from across Argyll and Bute have already secured funding from the new Business Gateway Plus grant programme, launched at the end of last year. Argyll and Bute Council’s Business Gateway administers the grant and is keen to hear from more businesses based in Argyll and Bute with a growth project in mind.

“This new grant provides support to growing businesses to help them deliver the projects that will drive further growth,” explains Councillor Duncan MacIntyre, Argyll and Bute Council Policy Lead for European Affairs, Sustainable Economic Growth and Strategic Transportation.  

 “It’s encouraging that so soon after the grant became available we have already had several successful applications and the resources are there to support more than twenty further businesses thanks to the council leveraging European funding for this.”

The Business Gateway Plus growth grant can provide a discretionary grant towards capital equipment, marketing costs or other costs directly supporting business growth.  Statutory costs, wage subsidies, training, property development and the purchase of stock or vehicles are excluded.  A restriction applied with the European funding means that retail businesses are not eligible for support.

The grant can provide 50% of project costs up to a maximum of £3,000. To be eligible for support, existing businesses (over 6 months old) must be actively trading with a turnover above £70,000 and be projecting turnover growth within the next three years.

Start-up businesses can apply for support only where they have  been actively trading for at least three months and are able to demonstrate clear potential to achieve an annual turnover of at least £70,000 within their first 18 months of trading and further growth beyond.

Anyone looking to apply should contact the local Business Gateway team in the first instance to confirm their eligibility and request an application form which also contains the terms and conditions.

Business Gateway has a team of local business advisers on hand to answer questions and to help interested parties progress their application.  The grant scheme will close in March 2015 or sooner if funds are fully allocated. Anyone looking for support should contact the local Business Gateway team to find out more on 01546 605 459

The project is part-funded by the European Regional Development Fund under the 2007-2013 Structural Funds Programmes and can provide financial support for up to 26 businesses.