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 £1000. 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.

 

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.

Grants must be taken within 3 months of approval, if the 3 months runs out, the grant money will be allocated to another business. Except otherwise approved by the BID manager.

Who decides on the funding?

Once all the paper work has been received and meets the criteria, the BID Manager will approve the grant. If there are any queries on approval, it will be taken to the board to approve.

How do I apply?

You can download an application form by clicking here.
You will need to have estimates for all your work. Once you have completed this make an appointment for the BID manager: teresa@eastleighbid.co.uk –  or she will come and talk to you about the project. Applications will be sent to Directors and if necessary they may wish to meet the applicant if more information is required.

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).