The Growth Fund

Grant funding for business growth projects that lead to job creation. The scheme is part-funded by the European Regional Development Fund (ERDF)

From:
Department for Business and Trade
Published
8 January 2021
Type of support:
Finance, Grant, Expertise and advice
Business stage:
Start-ups (1-2 years trading), Established
Industry:
Construction, IT, digital and creative, Life Sciences, Manufacturing, Science and technology, Service industries, Transport and distribution, Travel and leisure
Number of employees:
0 to 9 employees, 10 to 249 employees
Region:
North East

Who it’s for

Small and medium-sized businesses located in Gateshead, South Tyneside & Sunderland, planning an expansion project with costs of at least £134,000.

What you can get

A capital grant of between £40,000 and £200,000 to cover up to 30% of eligible expenditure. All projects must lead to additional employment in the business.

There are a range of grant percentage thresholds for the scheme. These are dependent on whether the applicant company is a small or medium SME and whether they (or their project if it’s a relocation) are located in an “assisted” or “unassisted” area.

ERDF criteria applies.

How to apply

Speak to the provider to discuss your specific project. You can also express your interest using the online form.

Find out more
Published 8 January 2021
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