The Fund provides financial assistance to help businesses meet specific business growth objectives. It can support capital expenditure (including IT), property expansion/improvements, exhibiting at a national trade show or the costs of developing innovative products or processes. It can provide up to 50% of eligible costs, up to a maximum contribution of £10,000. The purchase of furniture and consumables, and routine property maintenance is not eligible for support.
The Fund is open to sole traders, partnerships, limited liability partnerships and limited companies that:
- operate from commercial premises within the Renfrewshire Council area, for which there is a signed lease/rental /licence agreement in place , and
- are working with a Business Gateway Adviser, and
- have a business bank account, and
- are small or medium sized – employing fewer than 250, an annual turnover of less than €50m or balance sheet assets of less than the €43m, and no more than 25% of share capital owned by a large company/public body.
The Fund is not open to retail businesses unless serving a particularly niche market.