Staffordshire Moorlands SME Growth and Innovation Grant (UK)

Funding may be used to support all areas of business innovation leading to the creation of new products, services, markets, and an increase in employment (new jobs).

Funding Information

• Grants up to £15,000 are available to SME Businesses located within Staffordshire Moorlands District Council area, who are looking to grow their businesses through innovation.
• Grants are available at a maximum of 80% of the total project costs i.e. to achieve a maximum £15,000 grant, project costs would need to be in excess of £18,750 exclusive of VAT.
• Grants of above £15,000 can be requested if the business can demonstrate significant growth potential/new jobs created. Approval must be obtained by email prior to applying.
• All successful project applicants must have completed their project, spent, and claimed all the grant no later than 31st January 2025.

Eligible Projects

• The objective of this grant is to support the creation of new jobs, through the adoption of new technologies and processes that have the potential to improve products & services and lead to business growth.
• Research and development grants are available to support business growth through the development of innovative products and services or the adoption of new to firm technologies and processes.
• Funding may be used to support all areas of business innovation leading to the creation of new products, services, markets, and jobs.
• All business growth projects need to demonstrate how they can support/contribute to the below UKSPF outcomes.
• Priority will be given to those projects that can create new (additional) jobs.
• Outcomes
  • Number of Jobs created.
  • Number of Jobs safeguarded.
  • Number of businesses adopting new or improved products or services.
  • Number of businesses adopting new to the firm technologies or processes.
  • Number of new to market products.
  • Number of R&D active businesses.
  • Increased amount of investment.
  • Number of organisations engaged in new knowledge transfer activity
• The project must clearly demonstrate how the funded element will provide additional benefit to any previous or ongoing work/activity.
• The applicant must demonstrate that the proposed activity would not be possible without this funding.
• Minimum grant = £3,000 (project cost at least £3,750).
• Maximum grant award per organisation = £15,000 (project cost at least £18,750).
• Grants are available at a maximum of 80% of the total project costs i.e. To achieve a maximum £15,000 grant, project costs would need to be in excess of £18,750 exclusive of VAT.

Eligible Expenditure

• Grants are available for both Revenue and Capital costs.
• By Capital they mean – lasting assets such as equipment/machinery.
• Grants can be used on assets such as equipment which are expected to be used for a period of at least one year.
• Grants may include enhancements to existing assets which:
  • Significantly lengthen the life of the asset.
  • Significantly increase the value of the asset.
  • Significantly increase usefulness of the asset.
  • It will not include minor repairs and routine maintenance.
• By Revenue they mean items such as IT systems, marketing, consultancy.
• The following are examples of typical project costs:
  • External Research and Development.
  • Prototype development.
  • Specialist tools/equipment.
  • New Machinery.
  • External consultancy.
  • Tradeshows/Exhibitions (for new product launches).
  • Website innovations/redevelopment (enhanced functionality).

Eligibility Criteria

• Grants are available to SME Businesses located within Staffordshire Moorlands who are looking to grow their businesses through innovation.
• Businesses must:
  • Be a registered with Companies House or with HMRC as appropriate.
  • Have been trading for over 12 months.
  • Have a registered Business Address within the Staffordshire Moorlands District Council covered area.
  • Be classified as an SME.
• SME stands for ‘small or medium-sized enterprise,’ To be defined as an ‘SME’, businesses need to meet the following criteria:
  • Turnover of less than £50m
  •  Balance sheet total of less than £43m
  •  Fewer than 250 employees.
• Please note micro businesses and Social Enterprises who meet these criteria can apply.
• All eligible organisations need to provide evidence of being financially stable (solvent) and comply with the Minimal Financial Assistance rules of the UK Subsidy Control requirements

Ineligible Applicants

• They cannot accept applications from:
  • Individuals
  • Start Up businesses (pre-trading)
  • Community organisations.
  • Businesses based outside the Staffordshire Moorlands District Council covered area.
  • Businesses not registered with Companies House or HMRC.
  • Businesses not classified as SME’s.

For more information, visit Staffordshire Moorlands District Council.