Small businesses urged to tap into £160k European-funded grants scheme

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Entrepreneurs and owners of established businesses are being encouraged to turn their ambitions into reality by tapping into a £160,000 European-funded small grants scheme.

Lincoln Business Improvement Group (BIG) are urging people running micro, small and medium-sized businesses to take a look at The Collaboration 4Growth scheme, which offers grants of between £1,000 and £5,000, together with advice and support.

Lincoln BIG is leading on the European Regional Development Fund-backed project, in partnership with Lincolnshire Chamber of Commerce and Business Lincolnshire.

Together they are keen to use the new funding to help drive up the fortunes based in the City of Lincoln, West Lindsey and North Kesteven.

Businesses have the scope to apply for a helping hand to pay for equipment, such as tools, machinery or accounting systems. Grants may be used to pay for consultancy services, including the drawing-up of a marketing plan, a business growth plan or to fund IT projects.

However, there are restrictions – grants cannot be used to pay for vehicles, salaries, travel and a business’ essential running costs.

Lincoln BIG Project Manager Charli Whittaker said:

“These grants provide 60% of the total cost of an individual project – with the match-funding provided by the business.

“Initially, we will ask an applicant to fill in an “expression of interest.

“This allows our staff to carry out a detailed check to see if their project meets the eligibility criteria. If it does, we ask them to make a full application, and supply three quotations relating to the proposed expenditure.”

Any business interested in the Collaboration 4Growth grant can complete an expression of interest form by visiting the website.