Department for the Economy and Infrastructure
Growth and Prosperity Fund
GUIDANCE NOTES FOR APPLICANTS
The following notes provide an explanation of selected aspects of the
Expression of Interest form. Please contact us if you need further guidance.
1.2 Please describe your business activities and sector:
List your main business activities and the business sector in which you
operate e.g. ICT, Advanced Materials and Manufacturing, Tourism, Financial
& Professional Services, Life Sciences, Construction, Creative Industries,
Food and Farming, Energy & the Environment or other. It would be helpful to
include your Standard Industrial Classification Code (SIC).
Please note, local services and retail projects e.g. plumbers, garages, MOT
Centres, bakers, public houses, restaurants and hairdressing salons are not
eligible for this fund.
Further advice on eligibility of projects is as follows:
Health sector projects i.e. care homes – The NHS and partner organisations
are responsible for funding these types of projects.
Printing companies – this is a highly competitive sector with a degree of
overcapacity – applicants would have to demonstrate that they were working
in a specific niche market and that their project would not cause displacement
of jobs or the business of competitor companies.
Social Enterprises – Social enterprise businesses are eligible to apply, but
need to demonstrate that the majority of the project funding is from the private
sector. Additionally, the applicant would have to prove that the project would
generate profits to enable the Enterprise to be self sustaining following the
initial investment.
Training projects – Training is a competitive sector, which is widely supported
by the public sector. Applicants would have to prove that there would be no
displacement to other training companies.
1.5 Business size
Current number of full time equivalent employees (FTEs)
Please include only permanent personnel directly employed at the project
location. Do not include self-employed, sub-contracted or temporary
personnel. Seasonal jobs may be counted as long as the job is expected to
recur indefinitely.
Job definition: An FTE is a permanent employee who works 30 hours or
more per week; a part time job is one of at least 15 hours per week; two part
time jobs count as one full time equivalent job.
Turnover/balance sheet total: If you are an established business, please
provide the financial information from the most recently available statutory
accounts, or if not available please provide the information from management
accounts
Are you a small or medium enterprise (SME) or a non-SME? N.B NonSMEs are not eligible for this fund.
Definition of Small and Medium Enterprises:
Small enterprise

fewer than 50 full-time equivalent employees; and either

an annual turnover of no more than Euro 10 million (about £8.6 million);
or

a balance sheet total of no more than Euro 10 million (about £8.6
million).
Medium enterprise

fewer than 250 full-time equivalent employees; and either

an annual turnover of no more than Euro 50 million (about £43 million);
or

a balance sheet total of no more than Euro 43 million (about £37
million).
In addition, to qualify as a Small or Medium enterprise

the business must be no more than 25% owned by one or more
owners that are not classed as SMEs (public investment corporations
and venture capital companies are exempt from the 25% threshold as
are institutional investors provided they exercise no control over the
SME);

if your business owns more than 25% of other businesses we will also
need to take this into account in assessing your SME status;

if a non-SME exercises control of your business by legal or contractual
rights, this may affect your SME status;

if a non-SME’s ownership of your business (or your ownership of a
non-SME) is between 25% and 50%, your business may in some
cases still qualify as an SME;

if you have only recently exceeded the employment, turnover or
balance sheet total thresholds, you could still qualify.
Partner: a legal partner within a business. Member: a member belonging to a
limited liability partnership. Director: a director of a company.
2.2 – Please provide a full a description of your project in no more than
250 words:
The project description should include a brief outline of the project, including
the underlying rationale for undertaking the project.
2.3 How many permanent jobs will be created and/or safeguarded as a
result of the project?:
New jobs are those that are created as a direct result of the project and which
will remain in place for the duration of the project. Please provide an average
salary for all new jobs.
Safeguarded jobs are existing jobs in the business that would be lost without
the project and which will remain in place for the duration of the project. If an
application is invited we will require a full explanation of why jobs will be lost if
the project does not go ahead. Please provide an average salary for
safeguarded jobs.
2.4 Proposed total Project Expenditure (excluding VAT):
Eligible project costs include the following:
Land and Building works
IT equipment
Fixture and Fittings
Plant and machinery
Intellectual property (Intellectual property includes patents, copyright and
licenses acquired from a third party).
Professional fees (one off fees associated with the project)
Specialist vehicles (we would not fund delivery vehicles and company cars)
2.5 How do you plan to finance the project?:
The majority of funding must come from the private sector. You may wish to
consider the following:
Share capital/Capital Account
Bank loan
Finance Wales loan
Director’s loan
Overdraft – existing and/or proposed
Hire purchase/lease purchase
Invoice discounting/factoring
Group funding
Existing cash balances /reserves. We will need to see evidence of these
funds should the case proceed to application stage. Funds from future sales
can not be used to fund the project.
Other public sector funds
2.6 Amount of financial support being requested:
Minimum grant is £50,000 and the maximum grant is £500,000. The amount
offered will be restricted by State Aid rules on funding, the minimum
necessary for the project to proceed and an assessment of the project’s value
for money
2.7 What are the estimated start and completion dates for the project?:
The project will not be eligible for grant if has already started or you have
made an irrevocable commitment to proceed. The project end date is when all
of the projects targets (project expenditure and project jobs) have been met.
Should an application be successful, all grant funding will need to be
defrayed by 31 March 2018
3.1 Please give details of main customers and competitors:
Main Customers: Please list any customers who represent more than 10 per
cent of sales in the most recently completed year and the value of sales to
them in that year. If any customers are expected to take more than 10 per
cent in the current year or in any of the three following years, provide their
names and estimated annual sales.
Main Competitors: Please provide information on your main competitors
including location of the competitors.