D - Capital Assistance to Business Growth

Above: J W Stead & Son Ltd (Shipley) manufacture and supply products and services for the textile industry and other sectors. The business received a grant of £30,527 to replace two injection moulding machines with new, energy efficient ones. The grant funding will support the business to create one new job.

Value

£2m

Purpose

The Keighley & Shipley Towns Fund Business Growth Programme is designed to help new businesses start-ups, small and medium-sized businesses and large businesses based in or looking to locate into the Keighley and Shipley Towns Fund area. The funding is available to either expand, bring unused space back into use, increase productivity, create new businesses, safeguard existing jobs and/or create new jobs.

The grant may be used for

• The purchase of capital equipment, machinery, or tools.
• Property development, property improvement and capital cost to make alterations to land and/or premises to meet the growing needs of the business.
• Fixtures and fittings where appropriate and applicable for business needs.
• In certain circumstances applications may be considered for grant assistance for accounting software, CRM system, POS system, stock control systems, websites or other software systems. Justification will be required of the value of the software to the business alongside supporting the key aims and objectives of the grant fund. Grant contribution towards funding of software and any subscription cost will be entirely at the discretion of the grant panel.
• Website hosting costs are not eligible for this fund.

Position up to February 2024

Shipley - 37 expressions of interest received, with 9 applications approved. Total grant amount equals £159,479.88 with a private sector match of £433,042.43 and 23 jobs to be created as a result of the investment.

Project sponsor

Bradford Council – Invest in Bradford

Further information

For further information on this project contact Ravinder.Panesar@bradford.gov.uk.