Business support grant guidelines
Here are the guidelines for the grant funding that is available to companies. See Financial help for businesses for details of the types of grant and loans available.
Purpose of funding
The purpose of the funding is to help companies that have up to 250 employees by increasing employment, turnover and profits. In exceptional cases this may include sustaining existing jobs. The funded project should accelerate the growth of the business. You should be able to demonstrate how the project will directly generate an increase in jobs, turnover and profit and that you need funding.
These are competitive and discretionary grants aimed at new and existing businesses based in South Lanarkshire that are considering investing in a project to help the business grow. For clarity, discretionary means the council has discretion in determining whether or not the applicant receives funding.
The Business Support Grant is funded by the council and European Regional Development Fund.
The minimum grant level is £1,000.
The maximum grant level on any project is £10,000.
- your businesses must be based in South Lanarkshire
- you must be operating your business as a recognised legal structure see www.gov.uk/set-up-business
- your turnover will be expected to reach a minimum of the VAT threshold (£83,000 2016/17) within 12 months of the application date.
- your maximum turnover must be £8.26m/€10m
- you will be operating from business premises with appropriate consents to operate your business. Any home based businesses must have appropriate consents in place.
- will consider applications from manufacturing, services to manufacturing, construction, wholesale, transport, distribution, independent retailers, tourism, food and drink, agriculture linked to farm diversification - if you can provide evidence of possible results and need
- your invoicing and business correspondence address must be in South Lanarkshire. Alternatively you must be able to show that you pay non-domestic rates (if applicable) to South Lanarkshire Council.
- if you are part of a group or franchise with a headquarters outwith South Lanarkshire, you must be able to show that your operation has an independent cost centre responsible for your finances and management accounts
- your business must remain in South Lanarkshire for the duration of the support
- if you move premises outwith this area you will have to repay some, or all, of the grant
The decision as to whether your business is given a grant lies with the council.
As part of your application you must be able to show evidence that the project will result in the following:
- an increase in jobs
- an increase in turnover / profit