Regional investment aid
Regional aid can be granted in certain circumstances as a proportion of the costs needed for a new commercial project. Grant assistance can be available for small and medium sized companies throughout most of the country whilst assistance to large companies is restricted to projects located in a designated assisted area location.
For capital intensive projects the grant may be based on the capital expenditure, subject to value for money measures linked to the number of jobs created or safeguarded as a result of the project. For a service sector project assistance may be available towards the salary cost of net new jobs to be created.
The grant budget is held by separate bodies located in England, Scotland, Northern Ireland and Wales. All of the regions have a continuously open grant application process except for England, which is based around periodic funding rounds.
We have considerable experience advising many companies to be successful with this type of programme over more than 20 years.
R&D - national funding
Grant assistance is available to support R&D in the UK and is typically routed as follows:
- Innovate UK is the UK’s innovation agency. They are a key source of funding to help business develop new products and services – to bring them closer to market. Innovate UK publishes in advance its budget by sector and calls for proposals are published on a regular basis;
- Regional bodies. Grant assistance may also be routed via the separate bodies located in England, Scotland, Northern Ireland and Wales. These are subject to the same application deadlines as Regional Investment Aid above. Different to Innovate UK, the topic of R&D will typically be set by the applicant and not by the awarding body.
Funding is competitive and covers a variety of areas including feasibility studies, collaborative R&D and demonstration projects.
Grants are available to companies of all sizes – from start-ups to large multinationals. There are also a number of funding initiatives which focus on SMEs – most notably the SMART grants and Innovation Vouchers.
These grants are highly competitive. For each project Deloitte is able to utilise its years of grant experience in advising clients to enable the best presentation of a case for grant.