These pages include information about funding for capital and revenue projects, as well as funds for general business support.
The financial support programmes for investment in Sheffield will be changing over the next few years. Although the overall levels of grant paid to companies is not likely to change significantly, the map of designated assisted areas and maximum amount of grant payable per project will change.
We would advise all companies therefore to consult with Creative Sheffield before submitting an application for funding or making any legal or financial commitment to an investment project.
Currently, there is one main source of grant assistance available to companies investing in Sheffield, whether new investment or expanding existing investment.
Selective Finance For Investment (SFI)
DBERR grant scheme for investment projects leading to long-term improvements in productivity, skills and employment in the Assisted Areas of England. In Sheffield the maximum level of assistance available is 25 per cent of the capital expenditure.
Eligible businesses are those investing in manufacturing and the service industries that supply a national market rather than a local market. Assistance can be provided to:
- Establish a new business
- Expand/modernise/rationalise business
- Upgrade or introduce technological improvements into business processes
- Enable businesses to take the next step from development to production.
Additional sources
The High Growth Start Up scheme (HGSU) is aimed squarely at businesses who will grow rapidly, creating jobs and boosting the local economy, and achieve a turnover of £1,000,000 by year three.
Small firms up to five years old may be able to take advantage of the Small Firms Loan Guarantee scheme (SFLG). This is a government backed project that provides companies without security to take up conventional loans to borrow funds to support a viable business plan.
Two additional schemes aimed at SMEs are also worth investigating - Support for Growth provides highly structured and specialist consultancy to companies in South Yorkshire and Free IT Check is aimed at increasing levels of IT adoption in companies by providing funding for tactical IT projects.
Yorkshire Forward's Funding Search allows you to browse through a wide range of finance and grant options.
Other activities such as training, export and marketing also qualify for support. Please contact Creative Sheffield to determine your full grant potential.