Accelerating Business Growth
Accelerating Business Growth Fund
Could the purchase of new machinery, property improvements or building expansions help your business grow in Lancashire? If so, it might be eligible for grant finance.
Lancashire companies can apply for grant finance through the Accelerating Business Growth (ABG) programme, managed by Regenerate Pennine Lancashire.
ABG, a Regional Growth Fund programme, is a competitive grant scheme that helps fund business growth projects across Lancashire which commit to significant job creation, additional investment from other sources and aim to have a major impact on the Lancashire economy.
What can the grant be used for?
Capital investment projects that will stimulate company growth and create jobs. This could include:
- Machinery acquisition
- Property improvement
- Building expansions
- Infrastructure improvement
How much can I apply for?
- Minimum grant funding of £20,000 to a maximum of £150,000 dependent upon total project cost and job creation
- Typically, a grant is allocated on a 1:4 ratio - 20% of the total project cost
- The application and appraisal process is part-subsidised, however all successful applicants will be charged £750 to cover the additional costs of due diligence.
Is my business eligible?
Eligible businesses will comply with the following criteria:
- Based in the County of Lancashire
- Moving into the Lancashire area
- Plans for growth and the creation of jobs within 12 months of project completion
- Small and Medium Enterprise's (SME).
- Has received less than 200,000 Euros in public support over the past three years (including the grant amount within this application)
Priority will be given to the manufacturing sector and other business-to-business companies.
Larger companies may be eligible subject to additional criteria and should contact Regenerate to discuss their proposal in the first instance.
What's the process?
- If you are interested in applying for the fund, complete the Expression of Interest online form in the Apply section on the Regenerate Pennine Lancashire website.
- The Expression of Interest is assessed and if the project is deemed eligible, the applicant will be invited to complete a Full Application.
- Once completed and all supplementary information is gathered and assessed by key personnel, the application is presented to a local panel for consideration.
For any enquiries please email: email@example.com or call our freephone number 0800 6122029.
ABG is available to businesses in Blackburn with Darwen, Blackpool, Burnley, Chorley, Fylde, Hyndburn, Lancaster, Pendle, Preston, Ribble Valley, Rossendale, South Ribble, West Lancashire or Wyre.