Eastleigh BID Business Grant Information
What is a BID Business Grant?
This grant is intending to make a contribution to an organisation expanding, either through delivering a new service and the cost associated with that such as website and marketing, buying new equipment or taking on new staff. The grant can also be used for business premises improvements which will enhance the BID area.
How much can I apply for?
The grant will fund 50% of the cost of the project up to the value of £2000. Projects can cost more than this but the maximum funding will remain the same. The grants are allocated on a first come first serve basis.
If the funding is for staff
The grant will be paid as 50% of their monthly salary.
Who can apply?
Any levy paying business in the BID area or moving into the BID area. For new businesses grants will not be paid until the lease has been signed.
Are there any limitations?
The business can only apply for one grant in the five year term of the BID. The grants will paid directly to the supplier once the work has been completed. The work has to be started three months after the grant has been approved- if the project has not commenced within the three months then the money will be reallocated.
Who decides on the funding?
The Business Support Sub group which is made up of four BID directors meets six times a year and will look at applications. All projects are approved and appraised by the panel through a set framework. See town Centre website for meeting dates.
How do I apply?
You can download an application form by clicking here.
Once approved and the project has been completed the grant will be paid directly to your supplier. For staff it will be 50% of their salary until all the grant has been fully paid.
We will require you to complete a questionnaire six month after the grant has been paid and we may want to write a case study for our BID newsletter promoting the grants and how they can help BID businesses (if requested, no personal details will be shown).