Grants
The Investment Team at Rochdale Development Agency works closely with the Northwest Regional Development Agency (NWDA) to help businesses access grant funding. At any one time there hundreds of different grant schemes available. Below are detailed some of the more significant funds available to businesses contemplating moving to Kingsway Business Park.
We can help with determining which grants you may be eligible for and provide specialist advice to support you through the application process.
Grant for Business Investment (GBI)
Rochdale has Assisted Area status which means if a business meets certain criteria, it can attract Grant for Business Investment (GBI).
Typically, a grant is offered to support the acquisition of key assets such as buildings, plant and machinery and to support the creation of new jobs or to safeguard existing ones. It can also be used to support leases of 5 years or more.
In general, the maximum level of grant available for projects on Kingsway Business Park is between 10% and 20% of eligible costs, depending on business size. The minimum grant that can be applied for is £10,000. There is no upper limit that would not gain consideration for an appropriate project proposal.
Naturally there are certain criteria that have to be met to be considered eligible for grant support. Businesses that are expanding, from high growth sectors, creating jobs, implementing new processes and technologies are likely to be given priority.
Grant for Research & Development
Grants for R&D are aimed at helping entrepreneurs and business owners to fund the R&D required to get innovative products and processes to market. They are available through the Northwest Regional Development Agency (NWDA) and designed to help address the market failure of securing private sector finance. Any individual or SME in the north west can apply. You can also apply if you are planning to start up a business. The level of grant depends on a number of factors such as the size of your business and the nature of the project. The minimum support is £20,000 and the maximum is £500,000.
Other Grants
Whilst the grants detailed above are two of the most significant, there is a huge range of other funding schemes which may be available to you. Rochdale Development Agency can help you to source these and other forms of funding to help develop and grow your business. We work with specialist advisers who will offer an initial free consultation. Contact us for further information.