Business Development Fund

The Business Development Fund is now closed. Should additional funding be made available to this fund, and you would like to be notified if we are able to re-open the fund, please fill out the contact us form to be notified of any updates.

Grants from £5,000 - £9,000. 30% match funding required.

The Business Development Fund is targeted at SME businesses based within Telford and Wrekin. The fund aims to support:

business growth
expansion into new markets
adoption of new to firm technologies or processes
improved productivity
job creation / safeguarding
businesses to introduce new products or services

It will do this by offering match funded grants from £5,000 to £9,000 for specialist support services as part of a growth plan.

These may include but are not limited to:

consultancy
market research
innovation support
professional advice

This fund is open to business from B2B and B2C categories, however applications will be prioritised from businesses operating within the following sectors - manufacturing, engineering, digital, professional or other office services, logistics and distribution, wholesale, construction and environmental.

Businesses who are seeking to procure specialist 3rd party support from other businesses are able to secure up to 70% of the total project cost, up to a maximum of £7,000 grant.

Businesses who are seeking to procure specialist 3rd party support from Higher Education

Facilities are able to secure up to 70% of the total project cost, up to a maximum of £9,000 grant.

Next Steps

All businesses will be required to go through a three stage application process:

Stage 1: Expression of interest
Stage 2: A mandatory discussion with a member of the Invest Telford team
Stage 3: Full application

All applications will be assessed against pre-defined criteria, we anticipate high volumes and with a limited amount of funds we will not be able to support all projects that are submitted.

We encourage all applicants to work with the Invest Telford team to fully scope out the proposed project to align with fund goals and maximise the chances of success.

The onus is on the applicant to complete the application correctly, provide the necessary information and demonstrate that it meets the requirements of the fund. There will be no appeals process and the ability to provide comprehensive feedback will be limited.

Application timings

All dates are subject to change, any updates will be show here on the fund page.

Fund document and links

If you have any questions please contact us through the enquiry form here.

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