Frequently Asked Questions

Frequently Asked Questions

1. What can the grant be used for?

The grant is a capital or revenue grant or can contain elements of both.  It can be used to a wide variety of purposes as long as it is line with the Action Plan and contributes toward the development of a new product or service and growing the business.  This can include machinery and specialist advice or consultancy:

  • Plant or machinery acquisition

  • Development of a prototype

  • Diversification to produce additional and new products

  • Updates to production processes

  • Development and design of a new website or platform

  • Business strategy development to develop new goods and services or their market development

  • Research and development

  • New software

  • Purchase of small pieces (of less than £5000 value) of equipment to increase growth and productivity

2. What can the grant not be used for?

  • VAT payments

  • Paying off debts and interest

  • Purchase of land or buildings or their repairs

  • Replacement of existing machinery or equipment

  • Wages or staff costs

  • Overhead costs

  • Day to day business costs

  • Compliance or legal obligations

  • Items being purchased with other EU grant funding

  • Staff training

3. How do I find out if my company is in the SEMLEP area?

See link to SEMLEP region map.

4. Can my time be used as match funding?

No

5. What happens after I have been awarded the grant?

You will receive a letter from the Accountable Body (University of Bedfordshire) confirming the grant award with the terms and conditions.

6. What are the maximum and minimum levels of grants that can be applied for?

The maximum level you can apply for is 30% of the total project cost but not exceeding £3,000.

The minimum level you can apply for is £1,000

 

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