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Peak Innovation Micro Growth grant

Objective: Growth of micro business through innovation creating new jobs.

Capital grants for small scale investment by micro enterprises (with less than 10 employees and sole traders) including capital funding for net zero/low carbon infrastructure, diversification of farm enterprises and to encourage new start up businesses, expansion or scale up of businesses.

Minimum grant £1,000 (project cost at least £1250)

Maximum grant £10,000 (project cost at least £12,500)

A larger grant may be considered in exceptional cases where grant funding is necessary for the project to proceed and deliverables are substantial.

The grant rate will be up to 80% of total eligible project cost.

This grant is part funded by Rural England Prosperity Fund (REPF) for capital only grants. The total REPF fund for all applications is £100,000.

£38,333 part funded by UKSPF for revenue and capital grants.

Micro enterprises must satisfy two or more of the following requirements in a year.

  • Annual Turnover under € 2m (you will need to check the latest exchange rate of euro to £)
  • Balance Sheet Total under € 2m (you will need to check the latest exchange rate of euro to £)
  • Number of employees: a headcount of staff of not more than 10

Expected deliverables will include:

  • Jobs created
  • Jobs safeguarded
  • Enterprises experiencing growth
  • Enterprises adopting new to the firm technologies or processes
  • Number of enterprises adopting new or improved products or services
  • Enterprises with improved productivity
  • New enterprises created

Priority will be given to those with job creation and which introduce new technologies or processes.

Further details of general business grant guidance can be found in the UKSPF Business Grant Guidance document.

For further information please contact UKSPF@highpeak.gov.uk