Established Since 1991

Business Grants for Ashfield and Mansfield Businesses

As a member of Mansfield and Ashfield 2020 you have access to a hub of business information, inter-trading opportunities, Corporate Social Responsibility activities and now a funding hub that will distribute funding information and alerts so you know what is available for your business to help with business growth.

What is the Business Growth Grant Scheme?

Mansfield District Council is committed to supporting local business development and growth and this scheme will provide grants for businesses with a viable business growth plan that will lead to job creation.

Am I eligible to apply for a grant?

The grant is available to small and medium-sized enterprises (SMEs)* located in Mansfield district area that either:

Already have a ‘Strategic Business Growth Plan’ in place and require additional funding to take forward.

At the very early planning stages in considering developments to grow the business with no formal plan in place.

In all cases, growth plans will need to support the creation of at least two full-time equivalents (FTE) jobs.

The council reserves the right to refuse applications in respect of certain types of businesses and where there are other reasons that mean support cannot be provided.

£5,000
MAXIMUM
Being 50% of the total project cost
Funding For Local Business

N2 Business Growth Programme – Key Criteria

Mansfield District Council is committed to supporting local business development and growth and this scheme will provide grants for businesses with a viable business growth plan that will lead to job creation.

Am I eligible to apply for a grant?

The N2 Business Growth Programme will provide grant support to businesses in Nottingham and Nottinghamshire. It will address areas of growth opportunity:

In key growth sectors, life sciences, digital content, clean technologies and advanced manufacturing

In supporting new high growth businesses, such as spin-out companies and technology-led businesses

The programme is designed to help overcome barriers to the growth of private enterprise and is primarily aimed at local SME’s who need funding of between £20,000 and £250,000. Click here for the key eligibility criteria and how to apply.

£250,000
MAXIMUM
Funding for SME’s starting at £20,000

What is the Vacant Shops Grant Scheme?

Mansfield District Council has recently approved an ‘Economic Stimulus Fund’ and part of the fund will provide grants for businesses moving into vacant shops.

Am I eligible to apply for a grant?

The grant is available to independent retailers* taking occupation of a property which has been vacant for at least three months.

Premises must be located in the Mansfield district and applicants will be required to demonstrate a need for funding to enable their project to proceed.

As a consequence any items purchased or work undertaken before grant approval is awarded will not be eligible for funding. This scheme is available to both new and existing retail businesses**

£4,000
MAXIMUM
Funding per vacant property

Ashfield and Mansfield Apprenticeship Grant for Employers (AGE)

Grants of up to £1,500 towards the cost of taking on an apprentice.
To be eligible for our grant your business needs to:

Qualify for the National Apprenticeship Service’s AGE

Be located in Ashfield or Mansfield District

Employ less than 250 staff.

The apprenticeship opportunity has to be:

a newly created position and your company must not have recruited an apprentice in the previous 12 months

for an apprentice who is between 19 and 24 and lives in one of the Districts.

£1,500
MAXIMUM
towards the cost of taking on an apprentice

BUSINESS GROWTH SCHEME

What is the criteria and process involved in applying for the grant?

All applicants to submit an expression of interest form for initial assessment.

Applicants approved for formal application stage are then required to submit an application form along with detailed a business growth plan that amongst other things evidences creation of a minimum of two FTE jobs.

Applicants will need to demonstrate a need for the grant. They’ll provide evidence of the funding available to support the development proposals including applicant’s financial contribution.

Grant of up to £5,000 to support the implementation of the growth plan. There is a requirement for a contribution of 50% towards the total cost of pre-agreed items (excluding VAT) e.g. an overall spend of at least £10,000 to obtain the maximum grant of £5,000.

The application will be subject to an assessment process and all grants and the amount offered are at the discretion of Mansfield District Council and only whilst funds are available.

In all cases, written approval for the grant along with terms and conditions is required before any expenditure incurred i.e. the grant funding is not available on a retrospective basis.

If the grant application is successful the applicant will be offered continued support through the council’s account management programme.

What Can I Use The Grant For?

The grant can be used towards expenditure on the following:

  • In appropriate cases, previously agreed costs in developing a viable business growth plan.
  • Purposes that support the growth of the business as identified in the plan e.g.
  • Product development/enhancement.
  • Process development.
  • Development of new markets and routes to market.
  • Staff development.
  • This could involve capital and revenue costs such as:
    Land and buildings, including refurbishment, Plant, machinery and equipment costs (vehicles are excluded).
  • Costs relating to research and development work e.g. product development work including the production of prototypes, research of new marketing opportunities and development of an action plan.
  • Costs associated with staff training to improve skill levels in order to introduce the proposed developments into the business.

When Does The Grant Get Paid?

Applicants must produce evidence that expenditure has been made in respect of items to be funded by the grant by producing the following evidence:

Receipted invoices

Certified business bank statements in respect of payments made.

The grant will be paid into the applicant’s business bank account.

NB. All invoices and bank statements must be dated after the grant approval date. Items purchased using cash will not be eligible for grant payment.

Evidence that at least two full-time equivalent jobs to be created within 12 months of grant assistance.

Mansfield District Council also reserves the right to use your business as a case study in any PR and by accepting this grant you are agreeing to this.

In accepting this grant you are confirming that your business has not benefitted by more than the State Aid De Minimis limit of grant aid in the past three years of €200,000.

Next Steps

If you believe you have a project that meets the criteria of the scheme and would like to apply, please complete the enclosed expression of interest form and if you have any questions, please contact Paul Topliss at Ashfield & Mansfield Regeneration Service on 01623 463813 or email ptopliss@mansfield.gov.uk

N2 BUSINESS GROWTH SCHEME

What are the areas of growth opportunity?

In key growth sectors, life sciences, digital content, clean technologies and advanced manufacturing

In supporting new high growth businesses, such as spin-out companies and technology-led businesses

The programme is designed to help overcome barriers to the growth of private enterprise and is primarily aimed at local SME’s who need funding of between £20,000 and £250,000. The key eligibility criteria are:

The investment and associated assets must be located and remain in Nottingham or Nottinghamshire.

The investment must create new jobs that will last for at least 2 years.

No investment will be made on work already started.

No investment will be made unless all other funding routes have been exhausted.

The investment will cover a maximum of 20% of the total project cost, the remaining funding must be in place prior to the grant being awarded.

The investment will be made support a specific project and will require a brief description of the project, its location, the start date, the number of new jobs created, total project cost and the amount of grant funding requested.

Additional detailed points include:

This is a grant programme, it is not a working capital or loan fund.

The grants are subject to European Union State Aid rules which determine the eligibility of the business and the amount of intervention (if any) that may be considered. This is dependent upon the business size, ownership, financial strength, location, activity and the nature of the investment. The maximum intervention rate is 20% of eligible expenditure.

The applicant company must create new jobs within 12 months of the grant payment and employ the individuals for a further 2 years. (Full-time contracts of 30 hours or more per week).

The grant needs to demonstrate value for money; the minimum cost per new job created should, therefore, exceed £8,500.

Assets must be owned by the applicant company and remain on their balance sheet for three years. They cannot be owned by a pension fund or holding company nor can they be transferred or sold within three years of purchase.

If assets are purchased with asset finance or by way of a loan or mortgage there has to be an obligation to own the assets (ie not an operating lease).

Grants are paid in arrears on evidence that total eligible costs have been defrayed from the bank account of the applicant company; the applicant must demonstrate they have adequate bridging facilities in place.

Next Steps

If you believe you have a project that meets the criteria of the scheme and would like to apply then please contact Caroline Lomas at the Ashfield & Mansfield Regeneration Service on (01623) 463174 or e-mail clomas@mansfield.gov.uk

If your business and the planned project meets these requirements we would like to hear from you. Simply complete the online application (here) and we will review it and get back to you at the earliest opportunity.

VACANT SHOPS GRANT SCHEME

How much grant could I receive?

A grant of up to a maximum of £4,000 per vacant property could be available and this would be paid in four equal quarterly instalments.

A contribution of 50% towards the total cost of pre-agreed items (excluding VAT) will be awarded.

What is the criteria and process involved in applying for the grant?

n all cases, applicants need to apply for the grant by submitting an application form and obtain a written approval before any work is undertaken or items/equipment purchased.

Applications will need to be supported by:

Business Plan

A 12 month Cash Flow Forecast

Price quotes in appropriate cases (3 written quotes for any single item costing over £2,000)

Copy of latest accounts (existing businesses only)

Any necessary planning permission and/or building regulations approval***

What can I use the grant for?

The grant can be used for Capital and Revenue Expenditure (or a mixture of both)

Improvement to premises

Fixtures & fittings

Rental payments

Insurance premiums

Advertising/marketing costs

Please note that all grants and the amount offered are at the discretion of Mansfield District Council and only whilst funds are available.

When is the grant paid?

Applicants must produce evidence by way of receipted invoices and certified business bank statements that eligible expenditure has been made before the grant is paid. All invoices and bank statements must be dated after the grant approval date. Items purchased using cash will not be eligible for grant payment.

Next Steps

If you believe you have a project that meets the criteria of the scheme and would like to apply then please contact Caroline Lomas at the Ashfield & Mansfield Regeneration Service on (01623) 463174 or e-mail clomas@mansfield.gov.uk

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