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Introduction
According to the latest Office for National Statistics Survey on Business Insights and Conditions for October 2024 it has been revealed that 22% of businesses who responded expected their business performance to increase over the next 12 months. This is a relatively modest figure compared with the 43% of respondents who expect business activity to more or less remain the same over the next year. However, in many cases one of the main hurdles preventing businesses from increasing their performance prospects is a lack of funding available to purchase the capital equipment required to improve their business activities. An investment in the right equipment for the relevant business sector can bring outdated processes up to date with the latest technology, boost productivity and improve the experience of customers and clients.
There are many local and national grant schemes available for general business activity or for specific industry sectors where there are capital funds available that include allowable expenses for applicants to purchase equipment and machinery to improve their businesses.
What Are Some Of the Latest UK Purchasing Capital Equipment Grants Available?
i) Rural Business Development Grant Scheme 2024/2025
The Department of Agriculture, Environment and Rural Affairs for Northern Ireland is providing capital grants to support the sustainability and growth of rural micro-businesses across Northern Ireland. Eligible expenses can include computer equipment, computer software, E-commerce websites, new equipment/machinery and mobile machinery. Funding worth up to £5,000 is available.
Application Deadline: 8th November 2024
ii) UK Seafood Fund – Grants for Improvements to Boats, Ports and in Health and Safety
The Department for Environment, Food and Rural Affairs scheme provides capital grants to support projects that make improvements to vessels to reduce fuel use and emissions, improvements to infrastructure at ports, and improvements in health and safety for the UK catching sector. This includes funding to make purchases of essential capital equipment that can help achieve these goals.
Application Deadline: 13th December 2024
iii) High Peak Rural Business Development Grant
High Peak Borough Council is providing a scheme that aims to support the creation, diversification and expansion of rural businesses. The funding may be used for capital projects looking to undertake innovation, adopt new technologies, improve carbon footprint, diversify into new markets, develop and promote the visitor economy, develop local tourist attractions and/or enhance local social economy. This includes the purchasing of capital equipment to help achieve these goals. Funding up to £10,000 is available.
Application Deadline: 10th November 2024
iv) UK Shared Prosperity Fund – Supporting Local Business – Digital Technology and Automation Grants
Dorset Council is providing a scheme that aims to support enterprises in adopting new technologies and digital technologies. Eligible costs could include the purchase of new equipment, software development and implementation, IoT, adaptations, automation and robotics. Funding up to £20,000 is available.
Application Deadline: 17th November 2024
v) Dudley SME Grants Programme – Businesses Trading for over 12 Months
Dudley Business First is providing a scheme that aims to support the relocation, expansion, and growth of existing businesses, the development of new market opportunities, innovation, the improvement of systems and processes, capital investments in new equipment and new property builds and refurbishment/extensions. Funding up to £100,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
vi) St Ives Enterprise Grant Scheme – Round 3
This Cornwall Council scheme aims to support projects that enhance/improve the local service offering to residents of the town, projects that widen the economic base of the town and external improvements to premises which enhance the streetscape of the town. Businesses are eligible to apply and purchase relevant capital equipment to help achieve these goals. Funding up to £20,000 is available.
Application Deadline: 15th November 2024
vii) Rural Business Growth Fund
Babergh District Council is providing a capital fund targeting rural businesses that are seeking funding to support premises upgrades, which could include energy efficiency, general refurbishment of premises, machinery, technology, as well as agriculture and farming sector businesses looking to diversify their business through other offers and supplement existing income. Funding up to £30,000 is available.
Application Deadline: 31st December 2024
viii) Business Growth Grant
Gedling Borough Council is providing a scheme that aims to support established businesses wanting to improve sales, employment, or productivity. The grant can be used for land and buildings, including refurbishment, plant, machinery and equipment costs, research and development, staff training and up to 12 months of ongoing costs. Funding up to £2,500 is available.
Application Deadline: 31st December 2024
How To Apply For Purchasing Capital Equipment Business Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, who can apply and what eligible costs the grants will cover will also be outlined on these pages. Interested businesses can speak to grant advisors based at each provider who can guide them through requirements and eligibility criteria to see if the relevant funding is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Latest UK Business Purchasing Capital Equipment Funding Opportunities?
If you want to see the full set of UK purchasing capital equipment funding currently available, please visit https://getbusinessgrants.com/
