All Saints, Blakenhall & Parkfield Business Community
July 2008: This scheme has been suspended as funding is currently exhausted.
Who is eligible?
All start-up and existing SME businesses which are or will be located in the Wolverhampton ABCD area, who are planning for growth, and require financial assistance to enable this to proceed. Funding will not be made available to support:
1) Survival/failure situations, or
2) Trading activities which might bring ABCD into disrepute e.g. sale of alcohol; gambling; pornography; holistic therapies; money lending; religious or political ventures.
Businesses must normally be operating from commercial, and not domestic, premises, and have completed all necessary registrations, including with the local H.M. Revenue and Customs, and, if appropriate, Companies House. Similarly, leases on commercial premises will also have been signed in start-up situations.
What is an SME business?
1) Under 250 employees.
2) Annual Turnover < €40m, or Balance Sheet total < €27m.3) Independently owned.
What expenditure is eligible?
Support/warranty must normally be 12 months minimum.
Exclusions from the Scheme:
What level of Grant is available?
Grants are available as a contribution towards the business costs of new projects, up to a maximum of 50% of eligible expenditure, excluding VAT. The minimum Grant is £500, and the maximum is £6,000 for businesses with 10 or more staff. For staff up to 9, the maximum grant is £2500. VAT cannot be reclaimed in addition.
Funds cannot be awarded towards contingency sums or cost over-runs.
continued:
