Business Growth (Fit-out scheme)
Fit-out grants of up to £2,500 to SMEs / community groups to help bring new commercial, community and leisure opportunities into the town centre
Who’s it for?
- Independent businesses operating from or taking on an empty unit within the town centre boundaries of Crediton, Cullompton and Tiverton.
To be considered for a grant, organisations must:
- Have legal status ie:
- Be a registered business or social enterprise with HMRC or Companies House; or
- Be a registered charity or voluntary organisation with the Charity Commission; or
- Be an arms-length body of government, public sector organisation, local authority or higher and further education institution.
- Be prepared to cooperate with any due-diligence checks and to comply with the terms and conditions of the grant.
- Have a UK-based bank account in the name of the business and not have unmanageable debt.
Start-up and pre-start-up businesses can also apply but will only receive the funding if they proceed with an application to register with HMRC.
If an applicant is a director/owner/major shareholder of more than one enterprise registered/trading at a particular address, only one of those enterprises can receive Prosperity Funding.
Applicants must also:
- Own the property or have a secure lease on the property (or the evidenced clear prospect thereof).
- Be responsible for ensuring that all necessary permissions are obtained as applicable eg planning permission, building regulation consent and leaseholder/landlord consents before project work can commence.
What can you get?
- Mid Devon based businesses can apply for a one-off capital grant of up to 50% of the cost of business projects (up to a maximum grant value of £2,500) that brings an empty shop back into commercial use.
- The grant scheme supports small internal improvements to the business unit and items of fittings and furniture to dress the business space.
- This is a capital grant scheme and can only be used towards capital spend (one off costs, costs of permanent items, structures etc).
What is not eligible?
- Applications from businesses that have been trading from the premises for more than 3 months.
- Applications from businesses that have previously received a business growth (fit-out) grant for another or same unit in Mid Devon.
- Applications from non-independent businesses (chain stores).
- Pop-up occupants where the benefit will be short-lived (less than 6 months).
- Revenue expenditure (this is a capital-only grant scheme), which includes any form of advertising or promotional costs or ongoing running costs, as well as professional fees (eg planning fees or consultants).
- Costs related to a business re-branding.
- Laptops and computers.
- Any works that have commenced or been completed, or items purchased or leased before an offer of a grant has been made.
- Initiatives promoting a political party.
- Initiatives that conflict with existing Council policies and priorities.
- Applications for the purchase of stock.
- Businesses insolvent, in administration or without legal status are not eligible for Funding.
- Projects must be deliverable by 31 December 2024
- This is an open-application scheme, meaning funds are allocated on a first-come first-served basis to eligible applicants.
- This is a limited funding pot and the scheme will close once the funding is fully committed. Where funds available are less than requested, a reduced grant offer will be made.
- We are required to carry out business rates and licensing checks as part of your application.
- Your application may be delayed without the key information above
- If your business is VAT registered and the expenditure will be used in the supply of VAT-eligible goods or services then the grant will be made excluding VAT.
- Applications are for one-off grants only.
- All applications require at least 50% match funding.
How to apply:
Submit an expression of interest email to firstname.lastname@example.org to request an application form.
Please note, you will need the following supporting paperwork:
- Before photo(s)
- A mock-up of the proposed works if applicable (eg for any structural or physical improvements to the building)
- Three recent (within the last 3 months) comparable, detailed quotes (including VAT amount)
- Confirmation that you have checked if your project requires planning, advertising or listed building consent along with copies of any required permissions/consents (eg Planning Permission) as applicable.
- Landlord’s written consent
- A recent bank statement (within 3 months) to verify the payment information and trading activity (the bank statement must show the business name, sort code and bank account number).
- Breakdown of project costs (tip: if your project requires legal or regulatory permissions (eg Planning, Licensing, Highways), don’t forget to include this in your project plan and costs).
- A schedule of the proposed work including timescale and builder's specification showing product, materials and work required (as applicable)
- Completed subsidy declaration form.
- Any other relevant supporting document(s).
Once we have received your completed application, it will be reviewed and considered for funding by a Funding Panel and you will be informed of the decision. There is no right of appeal.