Rishi Sunak's Spring Statement may have contained few major new tax changes affecting small and medium-sized enterprises (SMEs) - with the promise of more reforms to…
By Andrew James
One of the most eagerly anticipated EU funding calls for projects has been released today – the call for Workspace in Cornwall and Isles of Scilly (OC05R18P 0900), under “Priority Axis 3: Enhancing the Competitiveness of Small and Medium Sized Enterprises”.
- Outline application deadline is 22 March 2019
- Up to £15,500,000 of funding is available through this call. A minimum value of £500,000 of funding can be applied for
- “As a less developed region, the intervention rate available in the Cornwall and the Isles of Scilly Local Enterprise Partnership area may be up to 80% subject to compliance with State Aid law” (but intervention rates will depend on the gap but are more likely to be in the region of 40% to 50%)
- “Value for money and alignment with Strategic Domestic Priorities, including the 2017 Industrial Strategy, (or any later publication that amends or supersedes that) will form a key part of the assessment and appraisal of all applications”
- “This call aims to increase the availability of high quality workspace in Cornwall and the Isles of Scilly (see further below)
- Activities will target domestic and foreign-owned small and medium sized enterprises, including social enterprises
A bit more detail
In the context of what workspace is being sought:
- “Specifically, this call aims to address the provision of market led, high quality, modern and well located workspace. Low commercial property values and high development costs have for many years rendered commercial property development unviable in all but a few prime locations. As a result, many businesses are located in outdated accommodation, often not suiting their requirements or their aspirations. Priority will be given to projects that are able to demonstrate that they will result in the creation of new, high value knowledge based jobs with higher than average salaries for Cornwall and the Isles of Scilly. The jobs must be located within the new workspace.”
- Proposals should ensure the following are clearly demonstrated:
- The local need / market failure to be addressed by the proposed workspace. Evidence of the level of local demand for the proposed workspace should be presented
- The proposed tenant businesses by sector, type, or other reasonable criteria
- The shape, form and function of the proposed workspace – connections between the local vicinity, the building and workspace layout, the types of facilities available, and any special features linked to the proposed tenants would be welcomed.
“Any potential applicants wishing to apply for funding under this call can make use of the Access to the Programme Team. This free resource will:
- Provide advice and support to potential applicants
- Offer specialist support in the early stage design and development of complex projects
- Promote and integrate the cross cutting themes within projects to ensure that applicants can develop projects that make the most effective use of all European Structural and Investment Funds.
For more information, please contact the team via: [email protected]”
I would suggest that any SME business (and/ or social enterprise) who has been thinking of developing workspace should read the call and if they feel it could be applicable, contact the Access to the Programme Team direct (or via us) to discuss eligibility and to try and get a feel for likelihood of success. Given the anticipation levels for the call, it is likely to be a very competitive process.
I would also keep an eye on the events page of the Cornwall & Isles of Scilly LEP website to see if there will be ‘Funding Application Support Sessions’ for this call.
We are looking forward to working with a few businesses on applications in response to this call.