BIG3 Productivity- Cornwall

Fund Name: BIG3 Productivity- Cornwall
Project Length:
Project Value: up to £150k at a 45% intervention
Deadline: 30/11/2021

BIG3 Productivity is a small SME scheme offering grants of up to £150k at a 45% intervention.

Applicants must be based in Cornwall and be able to demonstrate that projects will improve their productivity and can create at least one new skilled job. All grants are paid in arrears so you will also need to demonstrate how you can cashflow the project.

Typical Projects
  • Capital expenditure – Plant, machinery, tools and other capital equipment
  • Premises refurbishment and build (NOT purchase)
  • Access to new markets – Market research, Implementation of e-commerce solutions to support trading beyond established markets
  • Marketing – including digital and e-marketing techniques
  • Consultancy re growth ambitions – Business plan development, Systems software solutions, Finance escalator/advice, Capital needs assessment
  • Technology and product design – IT systems, Patent/IP protection/management, Prototype development, Manufacturing process improvement
  • Environmental measures – Accreditation, Implementation of environmental processes, Environmental audits
  • Some specialist commercial vehicles

In summary, any project that drives business growth, improves competitive advantage, leading to some job creation and a return on investment can be considered to be in scope. The project expenditure must demonstrate a clear step change and not be classed as ‘business as usual items’, or straightforward replacements of existing machinery.

The fund will not support business as usual, wage costs, stock, training, overheads or debt substitution.

ERDF also has some sector exclusions that are worth being aware of:

The fund can’t support projects around these industries or activities:

  • Day nurseries
  • Retail facilities
  • Fishery and aquaculture
  • Primary production
  • Synthetic fibres; textiles and clothing
  • Shipbuilding; coal and steel
  • Processing and marketing of agricultural products
  • Banking and insurance
  • Generalised school age education

https://www.businessinvestmentforgrowth.co.uk/how-it-works 

Get in Touch

If you think that you might be eligible for this fund, please Get In Touch by filling out the contact form below.

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