Oxfordshire businesses have one week left to submit an expression of interest to OxLEP Business' latest initiative, the Business Investment Fund, and the organisation is reminding interested parties to have their submission ready ahead of next Friday's deadline.
The new £2.1million capital fund – created to support Oxfordshire’s business community to move into an effective renewal phase following the COVID-19 pandemic – aims to support scalable businesses from across the county through matched grants, ranging from £25,000 through to £100,000 per business.
Through funding, eligible Oxfordshire businesses will be expected to deliver outcomes for the county’s economy through several key areas, including; the acceleration of investment plans, rebuilding operations and developing market opportunities, harnessing opportunities for technology adoption and innovation, plus supporting a business’ transition to a net-zero future.
The scheme – which is being administered by the OxLEP Business team – is funded by the Government’s Getting Building Fund, which aims to accelerate economic recovery following the Coronavirus outbreak.
Eligible businesses must have been trading in Oxfordshire for at least two full financial years, with cash from the fund required to be matched at a minimum of 50% of any total project value. The first stage of the application process will see businesses complete an Expression of Interest (EOI) form. All EOIs for the fund must be received by OxLEP Business by 5pm on 19 March.
To support businesses with their application, OxLEP encourages businesses to watch the fund launch event and supporting fund EOI guidance webinar:
WATCH AGAIN: Launch event - The Business Investment Fund
WATCH AGAIN: How to create an effective Business Investment Fund