Growing Hull and East Yorkshire is a £1.5m business investment scheme aiming to provide capital grants to SME businesses in Hull and East Yorkshire to support and incentivise business growth, investment and job creation. Grants of between £5,000 and £250,000 are offered.
The aim of the Humber LEP’s Growing Hull and East Yorkshire programme is to help grow the economy which has been disadvantaged through the impact of job losses within both the public and private sector. The prime objective of the programme is to achieve substantial job creation by incentivising investment in existing business. The grants are available to unlock projects that have the potential for job creation and can quickly deliver tangible economic outcomes, through additional investment.
The key priorities will be to support the expansion, modernisation and diversification of businesses already located in the Hull & East Yorkshire area.
To be eligible for funding, businesses must be:
- Legally constituted
- A micro, small or medium enterprise
- Located in or locating to the Hull & East Yorkshire area
- A financially viable business that has been trading for at least 12 months
- A business with a geographically broad (beyond the Humber area) customer and competitor base
- Not operating in an EC restricted sector
Grants will be awarded as a percentage of total eligible project costs. The remaining funding must come from a non- public source.
Grants are paid in arrears against evidence of spend.
Grant funded projects must create at least 1 Full time equivalent job for every £15,000 grant award.
Safeguarded jobs will also be accepted where it can be demonstrated that the job will be retained because of the investment.
Find Out More
Information relating to the scheme, including scope, eligibility and details on the application process can be found here.
- Scheme Start Date 01-Aug-2020 12:00am
- Scheme End Date 31-Dec-2021 11:59pm
- Support Type Grants
- Support Categories Grow and Sustain, Developing new products or services, Research and Development, and Energy and the Environment
- Scheme Funded By Government funding
- Number of EmployeesUp to 249
- Regions:East Riding, Hull