Grants available to support business growth

Business Transformation Fund open for applications

Enterprise and Housing

Ambitious businesses in North Lanarkshire can apply for grant funding to support investment projects to encourage growth and expansion.

New and growing enterprises are being encouraged to take advantage of our Business Transformation Fund 2018/19. Projects that will generate increased employment levels will be particularly welcomed.

The fund can contribute up to 50% in grant aid towards the cost of:

  • capital expenditure (up to £6,000)
  • infrastructure improvement (up to £6,000)
  • consultancy support (up to £3,000)
  • training support (up to £2,000), and
  • exhibition support (up to £3,000)

Businesses can apply for one or more of the funding categories in the current financial year.

In the last financial year, the fund awarded 60 grants totalling £312,606 to local businesses, helping to safeguard 465 jobs and potentially create another 148 jobs. The estimated turnover for these businesses, following implementation of their growth projects funded by the grants, totalled £15,060,589.

"The Business Transformation Fund is open for business in the 2018/19 financial year, and is available to a broad cross-section of business sectors with particular focus on manufacturing, food and drink, construction, life sciences, creative industries, digital and emerging technologies, tourism and social enterprise," said Councillor Allan Graham, Convener of the Enterprise and Housing Committee.

"The application process is straightforward and our Enterprise Development Team are available to meet with businesses to discuss the project and eligibility.

"We are particularly looking for businesses with potential for growth in turnover and jobs, and applicants must be business-to-business focused."

The Business Transformation Fund is supported through the European Regional Development Fund (ERDF).

The council's Business Gateway service is available to provide FREE business advice and support to assist the development of growing businesses.

For further information or to apply to the Business Transformation Fund, contact our Enterprise Development Team on 01236 638945 or by e-mail at businesssupport@northlan.gov.uk.

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