Deadline: April 29, 2022

Application is open for the New Product Grant Program. For Dorset businesses looking to launch a new product (or service) and would like a grant towards the manufacture or marketing (digital or consultancy). The grant application process is competitive and funds are limited. The onus is on the applicant to present as strong a case as possible as with any other application for external finance. Grants are fixed at £1000. Grant monies will be paid following submission of relevant project cost receipts, evidence that these have been settled from a bank account, and evidence that procurement policies have been adhered to. Full claim procedures with be provided with the grant offer letter.

Eligibility

  • To be eligible, you will need to be a business based in Dorset and looking to launch a new product.
  • Your business must be registered with Companies House OR be registered as self-employed a UTR number from HMRC (the UTR registration letter will be required as evidence).
  • Your business must formally engage with the DGH program and receive some support or guidance in the form of 1-2-1 diagnostic and information meeting
  • DGH will not support planned business activities that do not add to the net growth of the Dorset economy by merely displacing the activity of other local businesses.

CANNOT apply for the DGH New Product Grant

  • Please also note that some sectors are not eligible for support on this programme due to Central Government Legislation. These sectors include: *Fishery & Aquaculture, *Primary production, processing and marketing of agricultural products, *Coal, Steel and shipbuilding sectors,*Synthetic Fibres, *Generalised School Age Education, *Banking and Insurance Companies, * Nuclear related activity (*please follow the link for full eligibility guidelines)

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/760264/ESIF-GN-1-003_ERDF_Eligibility_Guidance_v9.pdf

  • Most local retailing and local service activities are also ineligible. You will need to be a business based in Dorset with a plan to launch a new product (or service). Your business must be registered with Companies House OR be registered as self-employed with a UTR number from HMRC (the UTR registration letter will be required as evidence).

Benefits

  • As part of a Grant Scheme, the Dorset Business Growth Programme (DBGP) funded by The European Regional Development Fund (ERDF) and run by Dorset Growth Hub (DGH), funding may be available to assist your new product lunch.
  • New Product Grants are fixed at £1000. Grants cannot be paid for amounts less than £1000 therefore your project costs must be £1000 or higher.
  • Examples of eligible project costs are provided later in these guidelines.

Application process

  • Application is by Expression of Interest (EOI) and supported by Management Information (MI).
  • MI provision is not essential but will significantly strengthen the application. This could include the provision of a business plan including financial projections/forecasts, and any supplier quotes for the planned project.
  • Completed EOI with supporting information should be submitted to grants@dorsetgrowthhub.co.uk (or via a DGH Business Growth Consultant) and as part of this process the business must sign up as a participant of the DBGP.

 

Click Here To Apply

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