Latest News

SFIE has just been re-launched as GBI (Grant for Business Investment)
In this month BERR have announced that the Selective Finance for Investment (SFIE) grant scheme has been re-launched and re-branded as ‘Grant for Business Investment’. The application procedure and guidelines for the scheme are virtually identical as the old SFIE scheme however with a few major changes influencing future applications. UK Grants Limited encourage all future applicants to contact a grant specialist to ensure they understand the new changes before proceeding to apply for GBI grant finance. The guidelines are now 110 pages long and can be confusing to someone who is not involved in GBI grant funding 24/7.

10/2008


100% of England becomes grant aided for SMEs
In this month the last 2 Regional Development Agencies joined the other 7 to make 100% of England now grant aided under the GBI scheme. Any area that is not grant Tier 2 status by Europe is now automatically a Tier 3 area. UK Grants has once again welcomed this decision to open up the entire country to grant aid under Tier 3 status. England is now a level playing field for SMEs which means more company's than ever can apply for GBI grant finance. The decision in April 2007 by the other RDAs has proved to be very fruitful for companies who historically were not in a grant area, with some parts of the country seeing 50%+ of new grant applications coming from these new Tier 3 areas. Never before has the country been more open to assisting business with grant aid.

10/2008


Grant Rates for SMEs have just gone up!
As well as ALL of England now being grant aided under the new GBI grant scheme the government (BERR) have announced that the old grant intervention rates for Tier 3 areas have gone up in an attempt to assist business more given the current economic climate. Whereas the old rates were 7.5% and 15% depending on company size, they have now increased to 10% and 20%. This means SMEs can now apply for more under the scheme than ever before. Tier 2 limits still remain and are applicable to companies of any size who are located within one of these regions.

10/2008


2006 / 2007 Grant Distribution from SFIE scheme results are in

2007 2006
  Amount Grants Awarded Amount Grants Awarded
East of England £4.1m 5 £4.3m 13
East Midlands £4.7m 16 £3m 23
London £0.66m 5 £1.9m 5
North East £15.7m 76 £12.7m 97
North West £10.3m 46 £18.5m 59
South East £2.5m 7 £2m 3
South West £2.7m 11 £4.2m 8
West Midlands £15m 40 £10.9m 41
Y&H £6m 42 £8m 45
TOTAL £61.66m 248 £65.9m 294

The above data for 2007 is not 100% comparable with 2006 as in April 2007 the EU changed the UK grant areas by reducing the Tier 1 & 2 areas. At that time 7 of the 9 RDA's made all other grant areas Tier 3. Only Tier 1 & 2 data is collected by BERR from each RDA and reported to the EU. The above reduction in grant offers from 2006-2007should not be interpreted as a reduction in finance available or a reduction in willingness to assist successful applicants. Tier 3 data is simply not reported to the EU by BERR.


UK Grants remain at the top of the Business Link Grant supplier list in the North West.
As one of the first suppliers on the original trial model in the South East of England, UK Grants are pleased to see this new model rolled out across the rest of the country. This means expert independent advice is now more accessible than ever to UK business.

04/2008


UK Grants continues to educate the business market
UK Grants were approached by 'growingbusiness online' as industry experts on grants to assist and educate them for an independent review of the grant market for business publication. The unique position of UK Grants in being the only organisation in the UK to compile and use Grant data for educational purposes and market analysis meant that their industry knowledge was invaluable to 'growingbusiness online' producing an accurate and informative grant market article for its readers.

03/2008


80% of England becomes grant aided for SMEs
In this month 7 of the 9 Regional Development Agencies announced that they were to open up their entire geographical region to SME's being eligible for grant aid. Earlier in the year the EU had announced that the traditional UK grant regions were to diminish and shrink the eligible areas to around 15% of England. However these Regional Development Agencies decided to fight back by increasing the areas of grant eligibility by making their entire region at least Tier 3 funded. This was great news for England as overnight 80% of England became grant aided to SMEs. UK Grants welcomed this decision by those RDAs and set upon a programme of education and marketing to all new areas.

04/2007


UK Grants seal a deal for EDF Energy securing them an offer of £1.45m from SEEDA
UK Grants Limited managed to secure for EDF Energy an SFIE grant offer of £1.45m from the South East of England Development Agency (SEEDA). This funding was to assist EDF create a new 'Centre of Excellence' at their Hove site on the South Coast. The grant will help to secure 499 existing jobs and create 600 new jobs for the area.

03/2007