Date posted: 7th Jan 2019
Time is running out for Tees Valley SMEs to benefit from grant funding from the Tees Valley Business Compass programme.
2019 is the final year of the scheme and applicants are encouraged to act fast to avoid missing out on grant support of 33%.
Tees Business Compass can support a wide-range of projects including:
- Capital expenditure – projects of up to £150k of total expenditure on plant and equipment, property improvements and in some cases building and specialist vehicle acquisitions
- Consultancy – costs of external consultants (e.g. digital strategy, ISO accreditation, marketing, business planning, internal systems improvements)
- Broadband vouchers – equipment and consultancy to boost broadband speed to at least 30mbs
- Innovation vouchers – innovation projects that involve the development of improved products or services
- Energy efficiency – investment in equipment and consultancy projects aimed at reducing green house gas emissions (currently closed to new applications)
In return beneficiaries are expected to create at least one new job for each £10k of grant awarded.
Some sector restrictions do apply and businesses operating in competitive, localised markets are required to demonstrate that any grant award would not adversely impact on employment at competitor businesses.
The Tees Valley Business Compass programme covers the Darlington, Hartlepool, Middlesbrough, Stockton and Redcar & Cleveland local authority areas.