Revenue grants
What is a revenue grant?
Having a healthy working capital is critical when growing your business, it’s cash intensive and often full of unexpected challenges.
Our revenue grant is designed to support you to mitigate the cost of commissioning external support that is currently acting as a direct barrier to your business growth.
Green Energy Switch
PECT
Clarion UK
GH Displays
What sort of expertise?
Almost all types of revenue expenditure are eligible, and your growth project can include more than one component/activity. Up to 30% of the total Revenue Grant can also be used to purchase capital equipment. Examples include:
What you need to know
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How much can I apply for?
We can contribute up to £20,000 of grant funding.
For example, if a development team supporting you to implement e-commerce functionality to your website will significantly increase your profits and create jobs, and your best quote is £10,000 to implement this work, the Grant will cover a maximum of £5,000.
You also have the option of a blended Revenue and Capex grant with a 70/30 split.
For example, a bakery in Cambridge applied for a blended Revenue and Capex grant in order to invest in their digital marketing and a walk-in freezer room. The digital marketing would make up 70% of the grant (Revenue/Service) and the walk-in freezer (Capex/Equipment), the remaining 30%.
The Total Project Cost was £37,000. Growth Works were able to support the client with a Grant of £19,000 (50%) of which £13,300 (70%) was for the marketing consultancy and £5,700 (30%) was towards the freezer room.
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Am I eligible?
Your business will meet our baseline criteria if you have:
- From 3 to 249 employees
- A trading address in the Combined Peterborough and Cambridge Area (CPCA) – South Cambridge, East Cambridge, Cambridge City, Fenland, Peterborough and Huntingdonshire.
- A balance sheet less than €43m (~£38m)
- An annual turnover less then €50m (~£44m)
- Ambition to grow faster or to continue scaling rapidly (~20% year-on-year)*
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When will the grant be paid?
Once you receive your official Grant Offer Letter, you can now go and commission the services you need to make it all happen.
When it’s all complete and you have paid them, just present the evidence of payment to us, and we’ll get this paid as per your Grant Offer Letter. We reserve the right to visit your premises to check evidence of what the grant has been spent on, or ask for photographic evidence.
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How do I apply?
The process is really straightforward. First step is to register your interest with us at Growth Works so we can double check you’re eligibility. This is a short online form on our website, that you can complete here: Get Started
You’ll get an immediate confirmation that we have received your registration and within 2-3 working days, our team will contact you to confirm your eligibility and all the other fully funded support that is available to you.
You’ll then meet with one of our Growth Advisers, who will talk you through the grant application process and simple form that requests information about your:
- Business
- Annual turnover
- Details of the project or activity that you will spend the money
- Supplier quotations for the planned expenditure planned
- Your forecast of how this will result in growth for your business (i.e. turnover and jobs)
Case Study
Hera Beauty gear up for 30% growth and expand their team
Get started
Let us help you identify opportunities for grant funding to accelerate your business growth.
First step? Register your interest with Growth Works. We’ll shortly confirm how our fully funded service can help you achieve your goals.
Baseline criteria
- 3-249 employees
- Located in Cambridgeshire & Peterborough
- Growth ambitious or fast-growing business
