£700,000 grant funding available for Solent based business growth projects

You can apply for a business grant if you are a business based in the Solent LEP area including the New Forest, Isle of Wight, Havant, Gosport, Portsmouth, Eastleigh, Southampton, and Fareham.

Eligible projects with costs between £4,000 up to £100,000 can access 25% grant funding. Already in high demand, GetSet Solent recommends applying as soon as possible so you do not miss this great opportunity which is only available until 31st July 2022.

The GetSet Solent Growth Grant is for businesses planning a step change in its operations, production, or engagement with customers. The money can be used to fund capital costs such as new machinery, equipment and other assets not funded through asset finance.

The grant can also be applied to revenue investment, which includes activities like marketing consultancy, branding and website development, new performance improvement systems such as Client Relationship Management system and developing an app. All helping to increase your business turnover and create new job opportunities.

The grant awarded is up to 25% of your total eligible project cost. So, the maximum grant awarded under the scheme is £25,000 for a total project cost of £100,000. The minimum amount of growth grant is £1,000 with a total eligible project cost of £4,000.

“This is an incredible opportunity for businesses in the Solent Local Enterprise Partnership area,” said Nicola Wiley, Senior Finance Advisor for GetSet Solent. “Right now, we have growth grant funding worth £700,000 to allocate to successful applicants who fit the criteria for the grant scheme.”

“Getting a growth project off the ground can make a huge impact on the success of any business. The GetSet Solent team have finance advisors on hand to support you through the grant application process as well as experienced business growth and sales and marketing specialists to help ensure you make the most of the investment received.”

Redwood, based in Waterlooville, successfully applied for the GetSet Solent Growth Grant when Co-owner Richard Albon needed funds to help upgrade their current warehouse to hold more stock and improve efficiency within the company. They also wanted to purchase equipment, including a new forklift truck, and employ an extra salesperson.

“The GetSet Solent team were very supportive. Grant applications require a lot of preparation, and it can be daunting but with the help of the GetSet Solent Finance Advisor we were able to complete the application with ease. They held our hand throughout the whole process from start to finish and our application for grant funding was successful.“

“Our sales and marketing strategy has always been at the forefront of our business activities and now with the opportunities that social media brings, along with the grant funding from GetSet Solent, we are set up to succeed.”

Richard Albon, Co-Owner, Redwood

Interested eligible businesses must enrol on the GetSet Solent Programme to access the growth grant and get fully funded business, marketing, and finance support. Grants will end when all the funds have been allocated on a first come – first served basis. So, enterprises need to act NOW to ensure they benefit from this fantastic opportunity.

To find out more about the GetSet Solent Growth Grant and check eligibility visit www.getsetforgrowth.com/solent/grants  or call 0800 917 5411.