The Manufacturing Growth Programme Grant Scheme is a growth and improvement grant offering up to 35% of the cost to implement plans to enable your business to grow and improve business strategies, plus it provides free advice and support to manufacturing SMEs.
What are the criteria for eligibility?
- You must be an SME as defined by the EU definition. This means your company or group of companies must have:
- Fewer than 250 employees
- Turnover of up to €50 million OR
- A balance sheet total of up to €43 million
- You must be a manufacturer, defined as:
“A business that engages in any economic activity directly related to a product or production processes they have researched, designed or produced, or otherwise hold core intellectual property in.” If you are unsure if you meet this definition, please get in touch with your local MGP team.
- You must be able to demonstrate the intention to grow/improve – (through creation of increased turnover, increased jobs and/or introduction of new products/services/processes)
Where’s the money coming from?
The grant is funded by the European Regional Development Fund (ERDF). An average project value of £4,000 of support would attract a 35% Grant contribution (Minimum grant applications accepted: £1000). Larger grants may be considered for exceptional cases.
How do I get involved?
Check that you meet the eligibility criteria on the Manufacturing Growth Website http://www.manufacturinggrowthprogramme.co.uk/ then get in contact with your local MGP team for a free, no-obligation Strategic Business Review. You will then be guided through the rest of the process by a dedicated Manufacturing Growth Manager
I’ve recently been making contact with a number of manufacturers in Sussex and Kent who are taking the opportunity to use the grant to improve their customer relationships with existing customers and find potential new market sectors and clients.
So, get involved and access expert free advice from your dedicated Manufacturing Growth Manager plus 35% funding toward the cost of implementing your business growth strategies.