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Business Efficiency Grants for Fife-based businesses

Support provided by Invest Fife Fife Council

What does this involve?

Fife Council’s Business Efficiency Grant provides financial support to help small and medium-sized enterprises (SMEs) in Fife become more efficient.

The initial round of applications opens on 1 March 2024 and closes on 30 April 2024. Further application rounds will be held if budget allows.

The fund provides small non-repayable grants of between £3,000 and £20,000. These will cover up to a maximum of 90% of eligible project costs.

Grants can be used to help with costs in 2 eligible areas:

  • net zero
  • digital development

Net zero

The net zero grants help companies invest in measures that will increase the efficiency of their premises, processes and technologies.

The funding can be used to:

  • make the fabric of a building more energy efficient
  • replace outdated heating, lighting or other systems
  • introduce energy generation or storage solutions
  • replace equipment used in the business processes with cleaner and more efficient alternatives

Digital development

The digital development grants help companies invest in digital solutions to improve their efficiency, competitiveness and reach.

Eligible uses could include:

  • online booking systems
  • integrated e-commerce point of sale and stock control solutions
  • robotic tools to automate financial and administrative tasks
  • interactive exhibits with augmented reality
  • virtual tours of accommodation or premises
  • tools for measuring and tracking sustainability practices
  • car park management systems

Applications are completed by a Business Gateway adviser, then checked, signed and submitted by the business that's applying. Therefore, you must be working with Business Gateway Fife to be considered.

You'll need to provide detailed information about your business (including financial projections), premises (lease or title deeds) and your proposed use of the funds (including 2 quotes for proposed work or equipment purchases) to complete the application form.

Businesses can receive more than one grant through this scheme, but the total amount received cannot exceed £20,000.

The Business Efficiency Grant is delivered by Business Gateway Fife on behalf of Fife Council and is fully funded by the UK government through the UK Shared Prosperity Fund.

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The fund aims to improve pride in place and increase life chances across the UK by investing in communities and place, supporting local business, and people and skills. 

Am I eligible?

Your business must be an SME located in Fife to be considered for the Business Efficiency Grant.

A Business Gateway Fife adviser will work with you to determine whether this support is suitable for your business. You must be working with Business Gateway Fife to be considered.

Short-term let providers are eligible to apply for the grant. They must hold, or have submitted an application for, a Short-term Let Licence. The property must also be used as visitor accommodation for at least 26 weeks of the year.

What does this cost?

This is a free service.

The maximum grant value is £20,000, or 90% of your eligible project costs, whichever is lower. The maximum grant amount for a short-term let provider is £5,000.

Note that after your application is approved, you'll need to cover the full costs upfront, then submit a claim with proof of money spent to receive your grant. You cannot claim for expenses incurred before your application was approved or include VAT in your claim.

Who is this for?

Small to medium-sized businesses (SMEs) based in Fife.

How long does this take?

The Business Efficiency Grant is open for applications from 1 March 2024 until 30 April 2024. You should aim to submit an enquiry no later than 15 April 2024 to allow time to prepare and submit the application and supporting evidence.

Business Gateway Fife aims to respond to all enquiries within 3 working days. However, they may take slightly longer to get back to you due to the high volume of enquiries expected for this grant. 

Applications will be assessed by 31 May 2024. All applicants will be notified of the outcome of their application after that date. If any budget remains unallocated at that point, another application window will be announced.

If your application is approved, you'll need to cover the cost of the approved work upfront, then submit a claim with proof of expenditure. Your payment will be processed within 5 working days after your claim is approved.

Important information

The Business Efficiency Grant is open for applications from 1 March to 30 April 2024.

Next steps

Submit an enquiry and an adviser will be in touch to discuss your needs.

Support provided by Invest Fife Fife Council