Welcome to your GetSet for Growth - Coast to Capital newsletter November 2021
Published: 25 Nov 2021
Changes to the Invest4 Grant scheme
We wanted to let you know that this month, there have been changes made making it easier for companies to access the European Regional Development Fund (ERDF) Invest4 grant from Brighton & Hove City Council (BHCC).
These changes will make it easier for companies to submit an application and BHCC will process applications on a first come first basis. You can find out more information about the Invest4 grants on our website here
Don’t miss the final panel in December 2021!
The changes to the Invest4 grant scheme are:
- BHCC have reduced the entry threshold to £1,500, so that you can apply for eligible projects with a total project spend of £3,750.
- Your company must be trading.
- Value added Tax (VAT) is no longer an eligible cost for non VAT registered companies.
- All companies can now go straight to the application form stage, with no Expression of Interest required for over £5,000 grant requests.
- For grant requests of up to £39,999, you no longer need to provide a Business Plan. However, we would recommend that you still provide one. For start-up companies and grant requests between £40,000 - £170,000 it is compulsory.
- You no longer need to supply three year cashflows and can simply provide a cashflow for one year. We would recommend that if you have three year cashflows that you submit these to ensure that you can show growth within your business.
- For grant requests of over £40,000 and up to £170,000, your company is no longer required to pay for the third party due diligence review as this will be covered by BHCC.
- If you are successful in securing a grant award from BHCC, you need to spend the grant within two months for under £5,000 grants, and for those over £5,000 and up to £170,000, you have three months.
- The maximum number of items that will be accepted for grants under £5,000 is five and for grants over £5,000 it is ten.
Please note you must not spend any money on your project before you receive a Grant Agreement Letter and the grant scheme currently comes to an end on 31 July 2022.
December workshops to help with your Invest4 grant applications
We are running all three core workshops in December to help companies submit to the final panel of 2021 on Friday 17th December 2021. To get all the documents, information and guidance you need to submit a strong grant application, these workshops can be key to your success.