Grant funding with Growth Works
Do you need investment to help grow your business?
Once you have a solid growth plan in place, you may need to call on some specialist services or development to make it all come together.
Power up your growth through our 50% match grant funding opportunities, designed to unlock your growth acceleration.
This gives you the opportunity to benefit from subsidised fees for external professional services or give you the cash you need to make critical capital purchases.
Here’s how Growth Works can help.
What grants are available?
Depending on your growth strategy, you may need revenue or capital investment to realise your ambitions. That why we, at Growth Works, offer both.
Investing in strategic growth expertise or services
Investing in equipment or other capital purchases
How to apply
First step? Complete our quick and easy online diagnostic to give us an idea of who you are and ensure you meet baseline criteria:
A dedicated Growth Advisor will then contact you to guide you through next steps of the programme and grant application.
What is the Growth Works Revenue Grant scheme?
The Growth Works initiative, which includes the grants scheme, is to support growth ambitious businesses to accelerate (or increase their capacity and capability to accelerate) their business growth.
Any business that is seeking to invest in growth may apply for a Revenue Grant that can fund up to 50% of costs, including, for example, support from a consultant or professional advisor.
It is a scheme funded by the European Regional Development Fund (ERDF).
Which businesses are eligible for Growth Works Revenue Grants?
Your business must employ a minimum of 3 people and less than 250 and have successfully enrolled onto our programme. It must have a turnover of less than €50million per annum and a balance sheet value of less than €43million. There are some other specific requirements that only apply to a small minority of businesses. These are described in the more detailed guidance and will be discussed with you by your Growth Advisor if you apply.
Do all businesses automatically get a grant?
No, once enrolled on the programme, you need to submit an application to the grant panel for review.
Does it matter if my business has had EU or other publicly funded grants before?
Yes. The normal limit (known as the De Minimis threshold) is €200,000 within a three-year rolling period, made up of the value of things like government funded business advice and other grants.
It is useful to note, however, that due to COVID 19, the support being provided to businesses by the government may also come under State Aid rules. As a result, the government has agreed a limit of €800,000 for support directly related to the covid response measures, which may mean your business could still be eligible for the grant scheme.
If you are in any doubt, our Growth Advisors will help you to confirm that your business is able to apply for the grant.
What can I use my Grant for?
These grants are specifically to assist your business with paying for strategic growth expertise or services that your business does not have the capability to perform itself. This could cover marketing agencies, legal services, leadership development, coaching and mentoring, R&D/innovation grant writing, or other business consultants and experts. Remember that this is a matched expenditure scheme, the grant will only cover 50% of the cost, your business covers the rest.
Can I use the Grant for funding equipment or other capital items?
No. There is another strand of the Growth Works grant programmes that supports equipment and other capital investments – for example machinery and software. Please refer to your Growth Advisor and they will let you know when the new round of Capex Grants is open.
Can I claim the Grant if I was going to make the investment anyway?
No, you need to demonstrate that you would not have carried out the activity or paid for the service partially funded by the grant if you had not had access to these funds.
How much can I claim?
There is no set maximum, but your business will need to match the funding provided by the Grant. This means that the grant will only cover 50% of the costs that you incur. For example, if adding e-commerce functionality to your website will significantly increase your profits or enable growth in staff numbers and you have been quoted £10,000 for this development, the Grant can cover a maximum of £5,000.
We expect most grants to be in the £5-£7k region, although higher ones will be considered if this will enable significant job creation.
Can I claim the Grant to pay my employees to do particular task or complete a project?
No. You must be able to prove that you have been supplied with external services that are integral to the growth of your business – for example, will help increase turnover, employment, or bringing new products or services to market.
Can my business apply for a Growth Works revenue growth grant at the same time as other funding sources?
Yes, providing you are still within State Aid thresholds.
Your Growth Advisor will help you calculate this.
Are businesses in all industries and sectors eligible to claim a Grant?
There are some business sectors that are ineligible to claim these Grants due to state aid regulations. These include fisheries, aquaculture, and primary agricultural production, mining and some exceptions relating to training aid and R&D. Finance and banking sectors are also ineligible as are steelmaking, ship building and synthetic fibre sectors.
There are also some other sectors which may be restricted depending upon the use the Grant is to be put towards, but these will be considered as part of the application process and Growth Advisors will explain these to you if necessary.
When will the Grant funds be paid to my business?
Your Grant will be paid when then services have been delivered and you have paid your suppliers. You will need to present evidence (e.g. supplier invoices and bank statements) that you have paid the suppliers. You will be paid the amount agreed on your Grant Offer Letter, which can not exceed 50% of the total cost to your business.
Will my grant be paid in advance?
No, if you are successful and receive a Grant Offer Letter, you must then procure and receive the services of your chosen consultant, pay them and send us the required evidence we need. Once everything is in order, we will release your 50% grant funding.
What information does my business need to provide to apply for the Grant.
There is a simple form to fill in that includes providing information about your business, turnover, growth , details of the project or activity that you will spend the money on and supplier quotations for the planned expenditure planned and the resulting growth that you forecast. Your Growth Advisor can help you with applying.
Can a Grant be used to cover general business expenses such as rent, materials or current payroll costs?
No. These Grants are for the purposes of enabling your business to engage expertise that you need to grow your business.