ARG Development Grant

ARG Development Grant

The East Riding of Yorkshire Development Grant is funded by the Covid Additional Restrictions Grant (ARG) to assist SME’s (Small medium Enterprises) within the East Riding of Yorkshire with the objective to help grow the local economy through supporting the expansion and / or diversification of existing businesses.
Growth must be shown through the opportunity to increase productivity, increase efficiency, increase sales, accessing new markets or supply chains and / or development of new products, processes or service. Its priorities is to support those businesses that have been most affected by the Covid-19 restrictions, sustain employment levels and help in the creation of new sustainable employment.
Grants will be in the form of a contribution of up to 50% of the cost towards specific costs e.g. Marketing Activities, Equipment, Technology, Strategy and Business Planning, however grants can extend to other categories as appropriate to the business needs. Grants must be for a minimum of £1,000, with £5,000 being the maximum.
Where existing East Riding of Yorkshire Council funding / grant schemes are identified as being appropriate these will be pursued initially, ensuring this funding adds value to the current business support offer.

 

Eligibility
Applicants must:
- be a registered SME (Small, Medium Enterprise – see appendix 1) within the East Riding Of Yorkshire
- be registered, with the East Riding of Yorkshire Council (subsequently referred to as “the Council”) Business Support Team to access 1-2-1 advice and confirmed as eligible on the project (Further details on ineligible businesses see below).
- ensure that the grant supports the direct growth, development or stability of the business and supports the businesses ability to safeguard jobs or create new employment.
- provide evidence of previous 2 years company accounts and current profit and loss statement to cover the trading period between most recent accounts and date of this grant application.
- show potential for ongoing growth of a sustainable business through submission of a current Business Plan with 1 years financial projections.
- maintain ongoing communications and agree to undertake regular reviews and monitoring of the business
- meet the UK Subsidy Allowance Scheme in relation to State Aid and Undertakings in Difficulty regulations as set out in the State aid information sheet (See Appendix 2)
- All grants need to have been awarded and paid for by 31st December 2021

 

For full details about the grant: http://sirius-hull.co.uk/files/dal/352.pdf