The Solent Growth Fund: Small Business Programme - CURRENTLY CLOSED

The Solent Growth Fund: Small Business Programme was a competitive funding programme, supported by the European Regional Development Fund (ERDF), tailored to support the Solent SME base to grow quickly (high-growth) through delivering new processes / products / services, and / or developing new markets. In addition, the Fund was also available to support businesses experiencing challenging trading conditions. The Fund formed part of the Solent Local Enterprise Partnership's (LEP's) approach to providing the resources and economic environment, which make it easier for businesses and individuals to be productive.

A total amount of £1.8m was funding is available up to March 2019 to support new and existing businesses to deliver new processes / products / services, develop new markets, or directly create and / or safeguard jobs in the Solent. Businesses from one of the target sectors identified in the Technical Guidance document for the fund had to demonstrate that they would grow quickly through delivery of new processes / products / services, and / or developing new markets, or diversifying products and / or markets in response to challenging trading conditions.

Grants from £10,000 to £75,000 were made available at the following intervention rates, subject to state aid compliance: 

• Up to a maximum of 20% for established businesses seeking to grow quickly (high-growth);
• Up to a maximum of 40% for start-up businesses with high-growth potential; and
• Up to a maximum of 40% for businesses experiencing challenging trading conditions.

Whilst this fund is closed, other successor funds are still available. If you are interested in applying for funding, please complete the form below and you will receive a call within 72 hours from a Business Adviser to discuss your enquiry.