Business Grants
Grant for Business Investment (GBI) - previously known as Selective Finance for Investment in England
In October 2008, Selective Finance for Investment in England (SFI) was relaunched and rebranded as the Grant for Business Investment (GBI).
If you are looking to invest in the growth of your business, to improve productivity, skills and employment , but need financial help to make this happen, then the Grant for Business Investment (GBI) could be for you.
Companies located, or planning to locate, in a Tier 2 Assisted Area, can apply for GBI, as can small and medium sized companies located in any part of the Eastern region.
Assisted Area Status
At the end of 2006 and following a lengthy consultation period, the European Commission announced the parts of the UK to be designated as Assisted Areas for the period 2007-2013. Prior to 2007, almost 31% of the UK population had Assisted Area coverage. From 2007 this fell to less than 24% of the population, with parts of South Bedfordshire and Luton the only remaining Assisted Areas in the eastern region.
Assisted Areas are areas where regional aid may be granted. They are areas where Assisted Area status will have the greatest impact on promoting growth, productivity, skills and jobs.
Four wards in South Bedfordshire are now designated as Tier 2 Assisted Areas. These are Dunstable Icknield, Houghton Hall, Tithe Farm and Parkside. Two of the wards, Dunstable Icknield and Houghton Hall, have retained their Assisted Area status from the last round of Assisted Area designation (2000-06), whilst Tithe Farm and Parkside are newly designated areas and replace previously included Dunstable Northfields.
What is the Grant for Business Investment?
The Grant for Business Investment (GBI) is designed for businesses that are looking at the possibility of investment but need financial help to go ahead.
Business Start Up Grants
Support is available to people living in South Bedfordshire, who are looking to start their own business, or who have started a business within the last twelve months.
Support for Innovation
Under the East of England Development Agency's finance for innovation portfolio, a significant amount of funding is available for businesses to translate innovative ideas into business growth.
Updated 24 October 2008
