Are you a Manufacturer with a Small to Medium Enterprise?

The Manufacturing Growth Fund could be a much needed saving grace for your next project. The programme has been set-up with EU funding to help make improvements and assist with growth for Manufacturing companies across the UK. There are different levels of funding available, depending on your location. In Lincolnshire, all manufacturing businesses are entitled to 43% funding.

The funding is accessible through a Manufacturing Growth Manager who takes the hassle and hard work away from you. Often grants and funding are so difficult to access, many businesses give up on jumping through all the hoops. Your dedicated Manufacturing Growth Manager will liaise with you and run all the background checks to ensure you are eligible before putting you forward for funding.

What can I use for the funding for?

To receive the funding, you must put forward a project proposal which will show how the funding will help grow your business. So far the team at Laser Red have helped secure funding for new websites, cloud-based applications, intranets and on-going marketing. Each of these has proven to take manufacturing businesses to the next level. Your account manager at Laser Red will work hand in hand with the Manufacturing Growth Manager to put together the proposal ready for acceptance based on your plans.

How much funding can I get?

To receive the funding, your proposed project must be for a minimum of £2,300, up to a maximum of £10,000, therefore you could receive a discount between £920 and £4,000. The only stipulation is, once the process has started, you must use the funding within four months.

Even if you have recently received funding from other avenues you may still be entitled to this pot of money as there are very limited restrictions on accessing the funds. The funding was first made available in April 2019 and will be available until September 2021, however, as the funds dwindle, the probability of acceptance does also. So it is highly recommended to get your funding through as early as possible.

What do I need to do next?

If you think you could be eligible, but not sure what project to put forward, or have plans on the horizon and don’t know where to start, speak to the knowledgeable team at Laser Red today who can start your journey. You can also find more information regarding the funding on the Grant Funding page.