UKSPF Business Growth and Investment Fund - Grants

The deadline for submitting expressions of interest is midnight on Sunday 11 May 2025. This may close early at short notice if interest exceeds the budget.

The deadline for submitting full applications is midnight on Monday 26 May 2025.

The UKSPF Business Growth and Investment Fund (BGIF) is a capital grant to fund the purchase of capital equipment and minor internal building works. This is funded through Herefordshire Council's UK Shared Prosperity Fund allocation for 25/26.

The aim of the grant is to support business growth in Herefordshire; creating more and better paid jobs and improving productivity. The grant will also support businesses to adopt new (to the business) technologies and processes and create new products and/or services, improving business competitiveness.

A successful application must be able to deliver one or more of the following by 1 March 2026:

1. New jobs
2. New (to the business) technology or process
3. Creation of a new product/service to the market
4. Sqm of commercial space converted or improved

Additional outputs to supplement above

• Safeguarding of jobs that would be lost within six months if the project does not go ahead *must be in addition to 1-4 above. Projects that propose to only safeguard jobs will not be eligible

• Businesses physically located in Herefordshire
• The trading activity and grant investment must take place within Herefordshire
• Businesses that have been actively trading for more than six months at application stage
• Tenants with a minimum of 12 months unexpired term on their lease on completion of the grant project, for example December 2026

• Businesses involved in primary production (farmers). Funding for this type of business is available from Defra funding for farmers
• Start-up businesses (trading actively less than six months on 11 May 2025)
• Public authorities including town and parish councils
• Voluntary groups
• Social enterprises that are not involved in economic activities
• Businesses where the majority of income comes from public sources
• Franchise businesses/national chains
• Non-economic activities
• Gambling/betting establishments
• Any business activity that is illegal or deemed unsuitable for public support by Herefordshire Council
• Businesses whose registered address is in Herefordshire but no trading activity is in Herefordshire
• Businesses with a religious focus, where the project or activity does not benefit the wider community and includes religious content
• Property developers and landlords
• Projects without planning permission or those which will not receive a planning decision by full application deadline (1 June 2025)
• Any business that is in arrears with business rates or Council Tax payments or otherwise in legal dispute with Herefordshire Council

• Capital equipment
• Internal building works (not including maintenance) below £25,000 in value
• Individual items that cost £500 or more, unless part of a package and from a single supplier - please speak to the Grant Team
• Items/works must be retained until 31 March 2026 or 12 months post final grant payment (whichever is the longest period)
• The grant must be match funded by the applicant's business. This is the difference between the grant you are seeking and the remaining cost of your project. The source of the match funding cannot be from other UKSPF or public funds for the item you are purchasing

• Purchase of land or buildings
• New build, extensions and maintenance costs
• Revenue costs/running costs, for example consumables, stationary, salaries
• Stock items, sample products and demonstrators
• Services, for example solicitor fees, legal insurance, planning fees
• Marketing costs, software licences and websites (including upgrades)
• Development and integration of new software systems which will not be capitalised within the business accounts
• Training
• Renewable energy installations, as a standalone project or main focus/cost of the project
• Corporate responsibility items - health and safety
• Like for like replacements of obsolete equipment with little or no added value
• Furniture
• Computers (only considered if critical for adoption of new technology)
• Mobile infrastructure, for example vehicles, trailers
• Items purchased through hire purchase agreements
• Second hand if not covered by six month warranty
• Individual items less than £500 in value (unless part of a package - see above)
• Works to domestic or residential buildings
• Speculative building projects

Capital grants are available for businesses to help them purchase equipment and undertake building works, up to 75% of the total project costs.

Existing businesses (trading 12 months or more):

• Minimum grant £5,000 - project costs must be at least £6,666
• Maximum grant £24,999 - project costs must be at least £33,333 (a higher grant may be considered in exceptional circumstances)

Start-up businesses (trading less than 12 months):

• Minimum grant £5,000 - project costs must be at least £6,666
• Maximum grant £10,000 - project costs must be at least £13,333

If applying purely for building works the maximum grant will be £18,750.

For your initial proposal to be considered, please complete the expression of interest form as soon as possible and before midnight on 11 May 2025:

Complete the expression of interest form

This may close early at short notice if interest exceeds the budget.

If you have submitted an expression of interest form, this will be reviewed within a week. If your project meets the minimum requirements you will be invited to submit a full application with supporting papers. This does not guarantee that you will be awarded the grant at a later stage.

The deadline for submitting the full application is midnight on Monday 26 May 2025. Full applications submitted by the deadline will be prioritised. Late submissions will only be considered if budget is available. You will be required to submit (along with your full application form):

• Two or three quotes per item/building works
• Bank statement or other match funding evidence for the total cost of the project
• Previous year's accounts and management account (including profit and loss) for up to three years
• Lease agreement with landlord consent - as appropriate
• Business plan and cashflow - if trading less than 12 months

If your application is successful:

• The earliest we will communicate decisions to applicants will be in late June 2025 but this may be delayed, depending on volume of applications received
• You will need to accept the grant offer before placing an order for the items/building works. If an order has been placed prior to acceptance of the grant offer, the grant offer will be withdrawn
• All projects must be practically and financially complete within 5 months of grant approval
• Grant will only be paid on receipt of a grant claim form, certified invoices and evidence that the items have been paid in full and delivered to your business address in Herefordshire
• Grant is not paid in advance
• Stage payments may be considered for building works
• You cannot pay for any grant aided items with cash or via hire purchase agreements
• You will be required to report and evidence the outcomes/outputs of your project at completion, which will be detailed in your grant funding agreement. Failure to deliver these outputs may result in grant being repaid.

If you would like to discuss your proposal before completing the form, please contact the Grant Team on 01432 260787 or 01432 260662 or via email to BGIF@herefordshire.gov.uk

Read more about the UK Shared Prosperity Fund.

UK Subsidy Control Regime

This grant scheme will be administered under Minimal Financial Assistance rules. Applicants must ensure that they are compliant with the UK subsidy control regime. You are asked to confirm this within the full application form.

For updates on other funding opportunities please visit the Herefordshire Growth Hub website or contact the Herefordshire Growth Hub Team 01432 383343 or email business@herefordshire.gov.uk

UKSPF guidance on branding and publicity