Rotherham firms are being encouraged to apply for a grant which will help improve their productivity.
Rotherham firms are being encouraged to apply for a grant which will help improve their productivity.
The Business Productivity Project is being run by Rotherham Council’s economic development unit RiDO to benefit small and medium sized businesses across the borough, part funded through the European Regional Development Fund.
The aim of the project is to improve firms’ productivity through the provision of capital or revenue grant, and to improve how they measure and report productivity gains.
Whilst the project is initially looking to safeguard businesses and jobs, priority will be given to those applicants that can best demonstrate how the investments will have a positive impact on productivity and the creation of potential new employment opportunities in the town.
Rotherham’s businesses are invited to apply with an investment project up to a maximum value of £15,000, to benefit from 50% grant funding up to £7,500.
Already businesses are benefiting from receiving funding. Examples of projects that have been supported are purchase of new equipment which has increased the speed of production, therefore improving the productivity of the organisation, and new CRM software which have improved processes and improved the productivity of staff.
Paul Woodcock, Strategic Director for Regeneration and Environment at Rotherham Council, said: “This is a great opportunity for businesses within Rotherham to receive support around a project that will make their services or people more productive. We’d encourage firms to get in touch to see if they are eligible, and what the steps are, soon as there is a finite budget and timescales.”
Qualification criteria
To qualify your business must answer 'yes' to the following questions.
- Does your business pay business rates to any of the following local authorities? Barnsley, Doncaster, Rotherham or Sheffield.
- Is your business categorised as a Small to Medium Sized Enterprise?
- Has your business been established for at least 12 months and operates from a commercial premise?
- Does your business generate most of its turnover from trading with other businesses, or, will your application demonstrate how the grant supported project will lead to this?
- Does your business have private finance available, either your own, from a bank or other commercial finance to invest alongside the grant?
- Can you demonstrate financial viability of the project and the need for grant support?
- Can you confirm that your business / project will not be engaged in the following industries / activities?
• Retailing or providing localised business to consumer services.
• Day Nurseries
• Fishery & Aquaculture
• Primary Production Synthetic fibres / textiles & clothing
• Shipbuilding
• Coal & Steel
• Banking and Insurance
• Generalised school age education
• Processing and marketing or agricultural products.
- Has your businesses received less than 200,000 euros of state aid over 3 consecutive fiscal years?
Application process
The application process is completion of diagnostic paperwork, application form, and supplier quote to support application.
The paperwork will be submitted to Rotherham Panel who will look at this and approve or decline.
Once approved it is sent to the Project Team for an Offer Letter to be raised.
Once the Offer Letter is received you can start the project, complete the project pay for it all up front, and then claim back the grant you have been allocated.
For more details email info@rotherham.gov.uk