The Tendring SME Growth Fund is a £500,000 programme to support Small and Medium Enterprises (SMEs) in Tendring's assisted area. 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 assisted area (see below) and working in the following sectors:
- Manufacturing
- Engineering (Electrical/Mechanical)
- Energy
- Low Carbon
- Maritime
- 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.
The following electoral wards fall within the eligible area:
- Brightlingsea
- Burrsville
- Great and Little Oakley
- Harwich East
- Harwich East Central
- Harwich West
- Harwich West Central
- Little Clacton and Weeley
- Manningtree, Mistley, Little Bentley and Tendring
- Pier
- Ramsey and Parkeston
- St Johns
- St Marys
- St Osyth and Point Clear
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 .
Helping companies to grow
The Essex Innovation Programme (EIP) has worked with many companies over the last 10 years. EIP is a no fee programme helping companies, both early stage and established, to develop and exploit their creative and innovative commercial development ideas.
Their team of experienced, private sector professional business advisors help companies, small and established, to grow and commercialise new products and services.
Find out more here.
Source [Tendring District Council]
