Financial assistance for relocation expenses or major project costs.

Where there is a change, be it strategic or geographic, there is inevitably a level of cost which can, in some instances, be significant. Capital and revenue expenditure is incurred often long before the beneficial effects of strategic change become tangible benefits.

In many instances there is Selective Finance for Investment available to assist with development projects which can mitigate an element of the cost.

Grant regimes, including Selective Finance for Investment, are not always well advertised or presented in the most user friendly of ways and should not be seen as a driver for commercial decision making. They are, however, worthy of consideration before embarking on any major project and Grant funding consultants can often help in putting together a ‘bid’.

Selective Finance for Investment and other support is available in target areas such as South Yorkshire for example where there is capital expenditure, impact on jobs (be it creation or safeguarding) and economic benefits accruing to the region and the UK. The current Objective 1 status of South Yorkshire also allows for additional support which can extend to revenue expenditure, often a major cost in strategic development projects.

Financial assistance for relocation expenses or major project costs can be up to a level of 35% of capital costs for exceptional projects, with an average of 15-20% regionally. Projects are considered by regional review teams and investment boards who seek to award the minimum required to enable the project to go ahead. Grant funding consultants can help present your case in the best light for consideration.

Completion of the application can be a time consuming process and case presentation is all. The agencies have specific target criteria which, if not described and highlighted within the application, may prevent the award being made at the optimum level or being made at all. This is a process where ‘knowing the rules’ is most relevant and seeking advice from grant funding consultants at an early stage is often beneficial.

Early planning is also essential as once expenditure is committed it cannot be included in an application. Therefore, as part of the decision making process or feasibility study the potential for financial assistance for relocation expenses or project cost grant support should be investigated.