GSK ENTERPRISE FUND
The Fund has been established as part of a package of measures which aim to address the local economic impact of job losses resulting from the restructuring of the GSK Ulverston antibiotics business. During 2019 and 2020 GSK will progressively discontinue manufacture of sterile antibiotics at its Ulverston factory but will continue to invest in the production of its globally competitive oral antibiotics.
The Fund aims to achieve its objectives by offering grants to businesses and start-ups of all sizes in eligible areas.
Businesses of any size and start-ups located or setting up an operation in the following areas are eligible to apply:
– LA7, LA8, LA9, LA10, LA11, LA 12, LA20, LA21, LA22, LA23 of South Lakeland District Council area.
– LA12, LA13, LA14, LA15, LA16, LA17 of Barrow Borough Council area.
This investment will encourage the creation of create new jobs and/or safeguard existing jobs, promoting competitiveness, sustainability and growth.
Job creation and safeguarding
All investment projects must create or safeguard sustainable direct jobs, normally within the applicant business. Priority will be given to projects which create new permanent jobs. For safeguarded jobs, you must be clearly able to demonstrate that the jobs are at imminent risk (within the next 12 months) if the project does not go ahead. Indirect jobs created within the supply chain will not normally be taken into account.
Depending on the size of your business, the fund offers grants between £2,000 and £100,000 to businesses in the LA postcode area to meet up to 30% of project costs (capital and revenue) which will lead to the creation of permanent jobs (the panel may approve grants up to £200,000 at its discretion where the level of job creation presents an exceptional opportunity).
Applications will be considered by an independent panel of specialists.
The first step is to submit an Expression of Interest form which you can download here.
Please note that this is a competitive fund which has monthly deadlines for submission for Expressions of Interest and applications.
The deadlines are the last day of each month
Deadline for submission of applications
- June 30
- July 31
- August 31
- September 30
- October 31
- November 30
- December 31
- January 31
- February 28
- March 31
- April 30
- May 31
Depending on the size of the grant you are seeking, there is a choice of two application forms:
· Grants of up to £5,000 – download the form here
· Grants over £5,000 – download the form here
You can find more information and guidance on how to complete these forms here.
Examples of eligible expenditure can include the following:
– Land and buildings, including the purchase or lease of larger premises and premises extension and re-fit
– Plant, equipment and machinery
R&D EXPENDITURE (SEE ANNEX D)
– Eligible costs for R&D include salaries (supported by timesheets), overheads, consultancy and materials
– Costs of instruments and equipment
– Consultancy and other external costs
TRAINING EXPENDITURE (IF ASSOCIATED WITH AN INVESTMENT PROJECT WHICH WILL CREATE/SAFEGUARD JOBS)
– Trainers’ personnel costs for time spent delivering training
– Trainers’ and trainees’ operating costs directly linked to the project
– Consultancy and other external costs
– Salaries and related employment costs of new employees
– Sales and marketing activities and collateral such as marketing materials and attendance at trade fairs
– Purchase of small items of equipment not classified as capital
– Other revenue costs at the discretion of the panel
If you’re a small or medium sized business our Growth Hub advisers are available FREE of charge to support your expression of interest and application; and help with other aspects of your proposed project.
Advisers can also ensure you’re drawing on any other available funding sources and support. Call us on 0844 257 8450 or click here to contact us by email.
If you’re looking for a grant of less than £2,000 or are not eligible for the GSK Economic Fund there may be other support available that you can be linked in to, including a countywide small grants scheme for young businesses. For more information please get in touch on 0844 257 84 50.
FOLLOW THIS LINK TO DISCOVER MORE ABOUT THE FUND: https://cumbriagrowthhub.co.uk/business-support/gsk-enterprise-scheme