South Devon Coastal
Local Action Group
Business Growth & Diversification Fund
The Business Growth and Diversification Fund (BGD) is a small grant scheme which aims to assist businesses to grow and diversify by investing in both capital and revenue activities. The grant intervention is 30% of eligible project costs. Minimum £1k – Maximum £10,000
Eligibility:
Under the RDPE programme, projects that are funded must fit into one 1 of 3 themes:
1. Diversification into non agricultural activities
2. Creation and development of micro - businesses
3. Encouragement of tourism activities
To apply for the scheme:
§ A business trading address in the South Devon Coastal area
§ Less than 10 full-time employees
§ Have an annual turnover of less than £1.7 million.
§ Latest set of accounts with a robust business plan
§ If planning is required – the application must either be approved or submitted.
What can be funded:
· Purchase of equipment (but not replacement or upgrading of existing equipment)
· Installation of new technology
· Product development and testing
· Technical support to lead to business growth
· Introduction of a new marketing technique
· Improving energy efficiency / reducing environmental impact/waste minimisation
· Adaptations/improvements to premises
What can not be funded
How do I apply – and who do I contact
Cathy Heath, South Devon Coastal Project Officer will advise you as to whether or not your proposal will be eligible for the grant. Tel No: 01548 858805 or email: cathy@ruraldevon.org
This project is part financed by the European Agricultural Fund for European Development 2007-2013: Europe investing in rural areas and is being delivered through the South West RDA with Defra as the Managing Authority.