If you are looking to expand your Leeds based business, this fund could give you a grant of up to £10,000.
The Business Growth Fund is designed to help small businesses based in Leeds to expand and recruit local residents. Grants of up to 20% of capital costs subject to a maximum of £10,000 are available.
Grants can be used for:
- the purchase of capital equipment;
- machinery and tools;
- alterations to land/premises; and
- security improvements.
The grant scheme is administered by Leeds City Council's Enterprise Team and has a number of criteria. To qualify for assistance businesses must be:
- based in Leeds;
- have been trading for 6 months;
- be operating from commercial premises;
- have an annual turnover of less than 50 million euros (around £45m) and employ fewer than 250 staff; and
- be engaged in manufacturing, manufacturing related services, wholesale/distribution, construction, media production or business to business services.
The small print: you must be able to show that you will recruit residents from Leeds and the grant will only be paid once the recruitment is complete.
Priority will be given to applicants recruiting previously unemployed persons or young people under the age of 24. A grant of £2,000 per employee will be paid for new employees residing in Leeds rising to a maximum of £2,500 per employee where the new employee was previously unemployed or is under the age of 24.
An information leaflet can be downloaded from the Documents section of this page.
For more information please contact the Enterprise Team on 0113 395 0677.