The team have a wealth of experience. This includes dealing with all aspects of the grant process, from initial expression of interest submissions to the final claim for draw down.
We have a proven track record of delivering successful applications for our clients. In addition, we have an extensive portfolio of approved due diligence and appraisal reports.
We have worked on grant support of in excess of £280m since 2012, supporting businesses of all sizes from start-up SMEs to long established multi-nationals. We also work across a wide variety of sectors ranging from manufacturing to the service industry.
Our team can advise you on grant funding opportunities across the North East, Tees Valley and Yorkshire. To find out if you are eligible for support, visit our available funding page.
What does this mean to you?
Maximised claims – We support you to maximise your eligible expenditure and employment outputs, resulting in the best possible grant draw down
Saving of time – We can take the significant burden of an application off your hands, leaving you free to focus on managing your business
Improved chances of a successful application – We have an extensive knowledge of the grant system and subsidy control rules. This allows us to achieve a success rate of over 90%. This is well above scheme averages
Peace of mind – Our appraisal and due diligence reports are recognised for their quality by local scheme providers
Which types of projects attract business grant support?
Grant support is available for a range of growth and efficiency projects. These include capital investment, research and development, energy-efficient equipment purchases, and consultancy that supports business improvement projects.
What business grant support is available?
Levels of grant support vary according to the types of investment being made and the location of the project. Support could range from 10% for a capital investment by a large business, through to 50% or more for a research and development project involving collaboration.
Is the location of my project important when seeking business grant support?
Yes, levels of grant support can vary significantly between locations. Some areas will have active grant schemes for purposes when others may not. Furthermore, subsidy control/ state aid law places further restrictions of the level of support available between different geographical areas.
How long does it take to secure a business grant?
Timescales vary across different grant schemes, however typically the timeframe from submission of an application to receipt of a grant offer letter can be between 2 and 4 months. Forward planning is therefore vitally important to ensure that an application can be approved ahead of a project commencing.
Can I start my project whilst my business grant application is processed?
Most grant schemes do not allow any commitment to be made to a project until a grant application has been approved. This includes placing orders and appointing contractors
What will be expected if I receive a business grant?
Typical conditions of a grant award include a requirement to invest a fixed amount of money in a specific project, job creation or safeguarding targets, legal requirements in relation to retention of assets and jobs, limits on other public sector support and securing matched funding from other sources.
Do I have to repay my business grant in any circumstances?
Yes, most business grant offer letters contain conditions that must be met. Some of these conditions apply before business grants have been paid out, but others are monitored once funds have been advanced. Failure to comply with these conditions can result in a grant becoming repayable
What is the likelihood of a successful business grant application?
Success rates for business grant applications vary according to different grant schemes. This could range from less than 20% for competitive national schemes, through to 70% or more for localised grant programmes. Our expert grants advisory team have a success rate of over 90% across all schemes.
Does my Innovate UK grant require an audit?
If you have received a grant of more than £50,000 from Innovate UK then you will almost certainly need at least one grant audit, also referred to as an independent accountants report. The number and frequency of these reports is dependent on the size of the grant award and the duration of the project.
How often do I need an audit for my Innovate UK grant award?
The usual Innovate UK audit intervals are based on the size of the grant award (not the project size) at an individual entity level (not across all parties involved in the project) as follows:
Grant of under £50k = no independent accountants report required
Grant of £50k to £100k = 1 accountants report required at the end of the project
Grant of £100k to £500k = accountants report required with first claim and final claim
Grant of £500k to £2m = accountants report required with first claim, final claim and on each anniversary of the project start date
Grant of over £2m = accountants report required with all claims
Each report covers the period starting either from the project’s beginning or from the cut-off date of the previous report. This ensures that all project expenditure is audited by the end of the project.
Does my Innovate UK grant project need to be audited by a registered auditor?
Yes, Innovate UK grant award conditions require that independent accountants reports are signed by a registered auditor. Always check with your intended audit provider that they can satisfy this requirement as many accountancy practices do not have registered auditor status. Clive Owen LLP have a team of registered auditors approved to sign our independent accountants report.
How often can I submit Innovate UK grant claims?
The vast majority of Innovate UK grant awards operate on the basis of one claim per calendar quarter.
What does defrayed expenditure mean for business grant claims?
Defrayed expenditure means a supplier has invoiced the project costs and the invoice has been fully paid. Grant schemes usually allow claims only for defrayed expenditure, not for unpaid invoices.
How are labour costs calculated for Innovate UK grant claims?
Labour costs must be based on actual amounts paid to employees, including gross salary, employer’s National Insurance, and pension contributions. Only individuals on the company payroll should be included. Dividend payments do not qualify. Calculate labour costs for the grant-funded project by using the number of days each employee worked on the project as a proportion of their total working days in the year. To determine total working days, deduct holiday allowances and statutory holidays from the actual working days. Clive Owen LLP provides a pro-forma expenditure tracker to help you calculate labour rates. This document also simplifies tracking other project-related costs, ensuring you compile grant claims accurately.
