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Grants to g row your B usiness Sue Tilley Economic Growth & Investment Manager LLEP PowerPoint Presentation
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Grants to g row your B usiness Sue Tilley Economic Growth & Investment Manager LLEP. What is the LLEP ?. LEPs introduced by Government through the Localism Act LLEP is one of 39 national LEPs formally recognised by HM Government

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slide1

Grants to grow your Business

Sue Tilley

Economic Growth & Investment Manager

LLEP

slide2

What is the LLEP?

  • LEPs introduced by Government through the Localism Act
  • LLEP is one of 39 national LEPs formally recognised by HM Government
  • Partnership between business, local authorities, Higher Education and Further Education
slide4

‘Leicester and Leicestershire to be the destination of choice for successful businesses’

Investment

  • EU Structural Funds £111m 2014-2020
  • EZ Business Rates £23m 2014-2020
  • Local Growth Fund

£80m 2015-2020

  • City Deal

£16m 2014-2018

  • Return
  • Create at least 45,000 net private sector jobs
  • Attract £2.5b private sector investment
  • Increase Gross Value Added (GVA) by £4b to £23b

Place

People

Business

  • Value for money :
  • At least 1:5 private leverage
  • Cost per job of £11k
about rgf
About RGF
  • £3.2 billion Government fund
  • Aim: To help companies to grow
  • Supports projects / programmes committed to deliver sustainable jobs and economic growth
  • Total grant programme equals £21 million in Leicester and Leicestershire
slide6

** < 50 employees

*** > 50 employees

* Subject to availability

eligibility
Eligibility
  • For SMEs based in the County ofLeicester and Leicestershire or looking to move into the area
  • Commit to job creation/safeguarding
  • Trading business to business
  • Projects primarily capital based i.e. machinery/plant
  • Commit to project completion by 31st March 2015
points to consider
Points to consider
  • Retrospective funding is not eligible
  • Procurement to test the market and prove VFM
  • Clearly explain how the grant will add benefit to the project and lead to job creation/safeguarding
  • Additional documents are required e.g. Accounts and Financial projections
  • Grants over £25k are subject to 1% cost, to the applicant, for Due Diligence
process
Process

Project Director and

Accountable Body Sign off

Quality Assurance (inc. Due Diligence)

Grants Panel

Grants Manager Assessment

Financial Assessment

Full Application + supporting evidence

(on-line)

Expression of Interest

(on-line)

case study rgf 3
Case Study: RGF 3

Engineering Company

Summary:

Bring forward the purchase of a laser cutting machine by 18 months. New machine up to 50% faster, increasing competitiveness.

Project cost: £485,000

Match from Business: £378,750

RGF Grant: (up to 25%) £106,250

Sources of Business (Private)match:

Various

Job outputs: 5 jobs created, 10 jobs safeguarded

case study rgf 4 medium sized company
Case Study: RGF 4 Medium sized company

Advanced manufacturing company

Summary:

New machinery lines are required to meet need of new contracts

Also changes to the internal layout of the factory.

Current number of employees: 60

Project cost: £7,000,000

Match from Business: £6,300,000

RGF Grant: (10%) £700,000

Sources of Private match:

Bank Finance, Reserves, Hire-Purchase.

Job outputs: 42 jobs created and/or safeguarded.

progress to date
Progress To Date
  • More than £10m* in grants awarded so far
  • 113* companies benefiting from the programme
  • Over 1,635* projected jobs to be created or safeguarded
  • Approximately £61m* of private investment leveraged
  • *Correct as at 1st Sept 2014
changes to gbe regulations 1st july 2014 affecting large companies
Changes to GBE Regulations 1st July 2014 affecting large companies
  • Aid for R&D and Innovation eligible costs;
    • 25% experimental development
    • 50% industrial research
    • 50% feasibility studies
    • 100% fundamental research
  • Training aid
    • 50% of the eligible costs
    • Additional incentive of 10% if disabled or disadvantaged workers* rising to 70%
  • *Between the ages of 15 and 24 years
national grants application direct to government
National Grants (Application direct to Government)
  • RGF Round 6
  • Projects requiring grants over £1m
  • Must be capital based i.e. machinery, plant
  • LLEP can assist – letters of support and data etc
  • Information can be found at:
  • https://www.gov.uk/understanding-the-regional-growth-fund
  • Growth Vouchers (SME’s)
  • Government Pilot Project- vouchers up to £2000
  • Maximum available = 50% of total cost
  • Application can be made at:
  • https://www.gov.uk/apply-growth-vouchers
slide15

NOW is the time to invest

Contact us:

admin@llep.org.uk

0116 454 2917

www.llep.org.uk

We are happy to provide more information for you to share with partners.