Green Recovery Capital Development Grant

Support provided by Perth & Kinross Council

What does this involve?

Has your business been negatively affected by COVID-19? Do you plan to grow your business through significant capital investment? If so, this grant is for you.

Through the Green Recovery Capital Development Grant, Perth and Kinross Council has made funding of up to £25,000 available for businesses that were financially affected by COVID-19 and now want to make capital investments in the Perth and Kinross area.

This fund offers grants of up to £25,000 to cover up to 50% of eligible costs. Projects must involve a minimum spend of £10,000, which means that businesses must match the funding with at least £5,000. Preference will be given to projects that involve green initiatives which will reduce your business's carbon footprint.

The grant will not be awarded upfront immediately after approval – instead, you will receive payment after you make your purchases and submit receipts or invoices. This means that initially you must be able to afford the project’s full cost until you are refunded.

Am I eligible?

Yes, if your business can demonstrate:

  • that COVID’s impact on your income has limited your ability to implement new systems, new ways of working, new machinery, or investment in green technology
  • your immediate need for investment and any positive impacts for your business's sustainability and growth associated with this investment
  • growth ambitions and the associated opportunity to create new jobs in the longer term

If your business meets these criteria, you can also check if your project is eligible. This is a capital expenditure grant, which means that the funds must be used to acquire, upgrade and maintain physical assets such as property, plants, buildings, technology, or equipment (excluding vehicles).

Your capital expenditures on any fixed assets should grow your business by increasing the scope of your operations or adding some other measurable economic benefit. Projects must be costed at a minimum of £10,000 capital expenditure to be eligible.

Priority will be given to projects that reduce the carbon footprint of your business.

The following costs are not eligible to be funded:

  • equipment replaced on a like-for-like basis
  • internal payments or salaries
  • operational costs
  • replacement windows
  • solar panels
  • vehicle charging points
  • statutory fees such as planning permission or a building warrant

What does this cost?

There is no charge for this service. However, note that the fund offers eligible businesses a grant of up to £25,000 to cover up to 50% of eligible costs of viable projects. This means that you will have to pay at least 50% of the costs yourself. The minimum grant amount is £10,000, which means that you will have to invest at least £5,000 of your own money.

Who is this for?

Businesses in the Perth and Kinross area affected financially by COVID-19, which are now looking to recover and/or grow through significant capital investment projects.

How long does this take?

Applications must be submitted before 24 June 2022.

Once you submit your application, an officer will respond within 14 working days.

Once your application is accepted, you will have 12 months from the date of your funding offer to complete your project and submit the invoices.

A monitoring report must be submitted 12 months after the grant payment.

If your business ceases trading or moves outside the Perth and Kinross area within 3 years of receiving the grant, you may be required to fully repay the grant.

Important information

Please make sure you have a minimum of 2 quotes available to upload when you begin your application. The council reserves the right to restrict funding to 50% of the lowest quote.

Before you apply, make sure you have a copy of your company’s project, business plan, or similar document that demonstrates the growth you expect to achieve from this investment. The business plan must show:

  • company information - name, address, telephone number, legal status, date established
  • the business - history, background, details of products and/or services
  • project details - description of the project and why the funding is required, sources of funding proposed (including your financial input to the project), amount of funding required from the Green Recovery Capital Development Grant, and employment implications of the project
  • marketing - an assessment of the market for your products and services that explains in detail your route to market, potential customers and the sales approach and methodology to be adopted
  • financial performance - last 2 years of audited accounts (if applicable), latest management accounts not older than 3 months (if applicable) financial projections for the next 2 years, including profit and loss and balance sheets at financial year ends
  • management and organisation - management structure, qualifications and experience of key personnel
     

Read the full terms and conditions on the Perth and Kinross Council website before you apply.

Projects must not be started before approval is given.

Next steps

Visit the Perth and Kinross Council website for more information.

Support provided by Perth & Kinross Council

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