Operated by BE Group in partnership with UNW LLP and The Journal and Middlesbrough Evening Gazette, Lets Grow is a £60 million Regional Growth Fund programme which provides grant support for capital investment and R&D projects that will create new, sustainable jobs.
It promotes the expansion, rationalisation, modernisation and diversification of businesses in the North East, encouraging firms to expand their operations or to set up new establishments there.
Lets Grow is available to businesses based in the North east of England and is aimed towards manufacturing businesses and service sector businesses offering more than a local service and supports projects of £200,000 or more in value which will be completed by 31st March 2017.
Projects must meet the scheme criteria, but are judged on their levels of impact and preference is given to those offering best value for money.
Lets Grow is available to SMEs, with higher levels of support available to Small Enterprises within that classification. In some cases large organisations can access Lets Grow but this will normally be restricted to R&D only projects or inward investment by overseas businesses not current operating in the UK.
Successful applications must meet eligibility criteria and:
Create new, sustainable jobs within the applicant company
Offer good value for money in terms of value of grant per new job created
Make a clear case for needing grant support
Have adequate private sector funding for the project
Comply with State Aid regulations
Grants will be offered in the range £50,000 to £1 million. Levels of support available depend on factors such as location of the project; type of expenditure planned, the size of the company and the level of job creation, and will range from 10% to 30%.
How to apply
Lets Grow is run as a series of quarterly competitions, the deadlines for which are shown below. To apply please complete the Expression of Interest form from the link below. Applicants who’s Expression of Interest are approved will be invited to submit a full application.
|Expression of Interest deadlines||Full Application deadlines|
|1st Competition||1st August 2014||29th August 2014|
|2nd Competition||17th October 2014||14th November 2014|
|3rd Competition||23rd January 2015||20th February 2015|
|4th Competition||24th April 2015||22nd May 2015|
|5th Competition||31st July 2015||28th August 2015|
|6th Competition||6th November 2015||4th December 2015|
For more information about the Lets Grow telephone the BE Group on 0191 426 6408.