The Tendring SME Growth Fund is a £750,000 programme to support Small and Medium Enterprises (SMEs) in the Tendring district and is supported by a grant from Essex County Council. The scheme will provide grants for new and existing businesses and the grants are intended to contribute to the costs of starting up or growing a business.
Eligible businesses must be located in or locating within the Tendring district and working in the following sectors:
- Engineering (Electrical/Mechanical)
- Low Carbon
- Research and Development activities and supply chain businesses that support these key sectors
What the grant entails
The grant can be used for "revenue costs" such as salaries or for "capital costs" such as plant, machinery or other equipment and/or the acquisition and refurbishment of premises.
Businesses can apply for between £3,000 and £150,000 but must also invest their own funds - 75% if it is an existing business or 50% if it is a new start-up.
Qualifying for grant funding
To qualify for grant funding the business could be a sole trader, partnership, limited company, community interest company, company limited by guarantee, or an industrial and provident society. Not for profit businesses, co-operatives, social enterprises and charities are welcome to apply, provided these entities have a trading arm that fits within one of these legal definitions.
How to apply
The applications will be evaluated in a four stage process which will take 3-4 months. To initiate the process you are required to register your interest with the Programme Team via the dedicated email email@example.com.
Source [Tendring District Council]