Grant for Business Investment (GBI)
Grant for Business Investment , or GBI, is a grant that supports businesses with capital investment projects which will increase productivity, skills and employment in economically deprived areas of England. If you are looking to relocate, improve productivity, or modernise manufacturing facilities this could be the grant for you. Applicants must show that they need financial help for the project to go ahead. The minimum grant available is £10,000 and the grants are administered in England by the Regional Development Agencies. Note that GBI is only available in England, equivalent grants are available in Scotland, England and Wales. we can assist with these also
Businesses of all sizes can apply for GBI, but those that are not small or medium sized enterprises (SMEs) can only apply if the investment project is located within an Assisted Area.
Most business sectors can apply but there are some restrictions:
- the European Commission restricts aid to certain sectors such as the steel industry, coal, synthetic fibres, primary agriculture, fisheries and shipbuilding
- areas of the UK economy which are already fully served, as grant support would lead to overcapacity and displacement of jobs from other businesses
- projects which offer purely a local consumer-type service, for example retail or restaurants, would be considered ineligible.
The grants can be used for projects to:
- launch a new business
- modernise, expand or re-organise an existing business
- upgrade a business by introducing innovative new technology or processes
- take a new product from development to production
GBI is currently available for large projects located in Assisted Areas in England, large projects are those in which the grant exceeds £2m. Sub £2m grantGBI is also available in Cormwall.
Grant for Business Investment Consultancy
Grant for Business Investment is a discretionary grant and, as budgets are limited, it is also competitive grant. In order to gain grant funding projects and project proposals have to be of high quality.
As GBI Grants Consultants we add value by supporting you during the application (and project delivery) phases. We do this by helping to compile the application, ensuring that the proposal targets the appraisal criteria, and that the financial appendices are correct. The financial appendices for a GBI application are very detailed and complex and form a major part of the appraisal of the project, they have to be accurate and correct, contracting with us will usually the same or less cost than using an accountant to prepare these for you. We will advise on the suitability of spend items for inclusion in the application and suggest others that you may not have considered. We will also support you during any appraisal visits and assist in negotiating project expenditure.
Thus we not only help to maximise your chances of being awarded a Grant for Business Investment by guiding you through the complexities of the scheme, but ultimately to improve the value of the grant actually awarded.
In addition we can provide full project management, or a lesser service of claims management (highly recommended) to ensure the project is delivered on time and on budget, or to ensure claims are submitted regularly to maximise the business cash flow.
Please note that our services cover the whole of England. We can also assist with the equivalent schemes in Wales, Scotland and Northern Ireland.
Contact us now for a free no-obligation discussion about your project.