The fund has been created to support Oxfordshire’s business community following the COVID-19 pandemic and potential effects of Brexit.
This £2.1 million capital fund aims to support scalable businesses from across the county through a variety of matched grants, ranging from £25,000 through to £100,000 per business. Through funding, eligible Oxfordshire businesses will deliver outcomes for the county’s economy through several key areas.
Funding can be used by businesses to accelerate investment plans, rebuild operations and develop market opportunities as we emerge from the pandemic. Recipients of the fund will be expected to harness opportunities for technology adoption and innovation, as well as supporting a transition to net-zero.
Key details of the fund also include:
- Eligible businesses must have been trading in Oxfordshire for at least two full financial years.
- Cash from the fund must be matched at a minimum of 50% of total project value
- Match can come from any costs incurred by the applicant in respect of the grant project, however – as this is a capital scheme – those costs must be those that can be capitalised within the applicant’s accounts
Businesses focusing on the below economic priorities will potentially be considered for this fund:
- A desire to increase sustainable job creation
- A drive towards Increased R&D and product development
- A push towards diversification into new business markets
- Increased exporting capacity (manufacturing, production and services)
- De-risked and strengthened supply chains with a focus on UK supply chains
- A desire to transition to trade globally including new EU requirements
- A need to successfully transition business operations to net zero carbon emission
- Adoption of new energy systems with lower carbon footprint
All applications (expressions of interest) for the Business Investment Fund MUST be received by 5pm on Friday 19 March 2021. Guidance and application details will be made available here from 8.30am on Tuesday 2 March 2021, following the launch of the fund.