Social enterprises in East and Central Scotland have a fresh opportunity to secure vital funding as the Employer Fund relaunches for 2024. The IEE Employer Grant Fund, aimed at supporting small and medium-sized enterprises (SMEs) in the region, is now open for applications. With the fund set to close at 5 pm on Friday, 6th September, eligible businesses are encouraged to act swiftly.
Supporting Business Growth Post-Start-Up
The Employer Fund is designed to assist businesses in their growth phase, specifically those that have been trading for 12 to 36 months. This initiative targets SMEs that have moved beyond the start-up stage but still require financial support to scale their operations. The fund is open to enterprises located in East Lothian, Edinburgh, Fife, Midlothian, the Scottish Borders, and West Lothian.
Key Criteria for Applicants
To qualify for the fund, applicants must meet the following criteria:
- Geographical Eligibility: Businesses must be based in one of the following areas: East Lothian, Edinburgh, Fife, Midlothian, the Scottish Borders, or West Lothian.
- Trading Duration: Eligible businesses should have been operating for at least 12 months but not more than 36 months.
- Age Requirement: Applicants must be at least 18 years old.
- Business Structure: Both sole traders and limited companies are eligible to apply.
- Funding History: Applicants must not have received financial assistance from IEE in the past 24 months.
- Funding Limits: Businesses can request a grant between £500 and £1,000.
Key Dates:
- Monday 2nd September: Applications for the Employer Fund open.
- Friday 6th September, 5:00 PM: Deadline for submitting applications. Businesses must ensure their applications are completed and submitted by this time.
- Monday 9th September to Friday 27th September: The application scoring process will take place. During this period, each application will be carefully reviewed and assessed.
- Monday 30th September: Successful applicants will be notified, and grant award letters will be issued. Unsuccessful businesses will also be contacted on this date.
- Monday 21st October to Friday 8th November: Payments will be sent to the successful businesses. The distribution of funds will be closely tracked to ensure timely delivery.
Limited Time and Funds
Given the limited nature of the fund, only one application per business will be accepted. SMEs interested in this opportunity should submit their applications promptly, as the window for funding is short.
Katharine, who is overseeing the fund’s relaunch, will be circulating further details to relevant social enterprises in the coming days. This grant represents a significant opportunity for businesses looking to expand their operations and achieve sustainable growth.
For more information or to apply, interested parties should visit the IEE Employer Grant Fund’s official website or contact the fund administrators directly.
Application Deadline: 6th September 2024, 5:00 PM
Don’t miss out on this chance to secure essential funding for your business’s growth and development!
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