Second chance for businesses to gain funding support
7:20am Thursday 25th October 2012 in News
Businesses have another opportunity to take advantage of investment support from the Cornwall & Isles of Scilly Local Enterprise Partnership (LEP)
The LEP has announced a second call for proposals for the Business Catalyst Fund, part of the Business Boost suite of funds.
Expressions of Interest for Business Catalyst, which is funded through the Regional Growth Fund, can be submitted to Cornwall Development Company (CDC) who manages the investment programme on behalf of the LEP and Cornwall Council.
Chris Pomfret, chair of the Cornwall & Isles of Scilly LEP, said; “The Business Catalyst Fund is part of the Business Boost investment programme totalling some £17 million of funding opportunities for businesses of which there has already been significant private sector interest in Business Catalyst.
"I would urge all businesses, both large and small to consider this fund which can help them to drive business growth and jobs a key priority for Cornwall and Isles of Scilly.”
The Business Catalyst Fund can support businesses to make significant investments to make a real difference and create a step change in business performance, productivity and growth.
It can help fund large scale expenditure for capital investment or revenue projects. The investment should lead to the creation of new jobs and/or allow the business to retain staff that might otherwise be at risk. Investments start from £10,000 and there is no maximum level of support. Businesses can apply for up to 50 per cent of the total investment and will need to match that with their own contribution.
The Business Catalyst Fund is open to applications from businesses in every sector. In the first round, the fund has considered a wide range of proposals from butchers and bakers to solar energy and marketing companies, from hotels and retail businesses to chocolate and cleaning product manufacturers.
Businesses will need to show that the investment will improve business productivity and lead to new or safeguarded jobs. Companies will also need to show that the proposal needs the support from the Business Catalyst Fund in order to go ahead, and that it would not happen without the additional investment.
Businesses need to complete the short expression of interest form on the CDC website by midnight on 18 November. For more information and to access an expression of interest, visit www.cornwalldevelopmentcompany.co.uk/catalyst or call CDC on 01209 616098.