Case study - Grant funding supports business growth

Through Moore Stephens’ support, our client won a grant equivalent to 30% of expected capital expenditure on a project intended to drive future growth. This was the maximum available under the grant scheme in question.

Our client, a wholesale distributor of office imaging consumables, was planning to expand its office and warehouse space with a two-floor extension, install new IT and heating systems and undertake groundworks to enable improved trailer storage. The total project was expected to cost £165,000 between 2017 and 2019.

Before our involvement, the management team were unaware that any grant funding might be available for their project. Once aware of the grant opportunity, they not only found the rules and requirements hard to understand, but also realised they didn’t have the time to prepare a full application with supporting documents.

How we helped
 

Through discussions with the client, we understood the aims of their project and identified a suitable grant for which they would be eligible. We also explained to the client the grant State Aid rules, which can seem complicated and difficult to interpret for someone unfamiliar with grant funding applications. Our dedicated grants team, containing financial and technical specialists, then created a strategic plan for preparing the grant application in line with deadlines set by the grant provider and the clients intended project start date.

We took a proactive approach to the application process, liaising with the grant provider’s executives on the client’s behalf and meeting them at the client’s premises to put forward the case for the grant.

We used templates to gather the necessary information for the application, resulting in a streamlined data collection process. We then wrote the grant application for the client, making sure all relevant information was included.  The grants team also helped to create a business plan presentation and financial forecast assessment for the company, which was submitted along with the full grant application.

The result

Within 10 weeks of submitting an initial expression of interest – and just four weeks after submitting the full application form – a grant of £49,500 was approved by the Stoke on Trent and Staffordshire Grants for Growth scheme. The scheme offers to fund up to 30% of eligible growth projects. Our client won the maximum available, resulting in a substantial reduction in the actual financial cost of its growth plan.