Member Article

Digital technology funding worth £10,000 available for small business

Businesses in the Leeds city region are being urged to take advantage of up to £10,000 of funding to invest in new digital technology under the Government-backed Digital Enterprise programme, before the window for applications closes next month.

Digital Enterprise has launched the third phase of its Digital Growth Vouchers scheme for SMEs, which provides funding of between £2,000 and £10,000 towards new IT hardware and software, or to upgrade broadband connectivity. Available to firms that employ between two and 250 people, with a turnover of no more than £43m, Digital Growth Vouchers can be used to fund at least 50 per cent of the cost of new technology. Businesses have until 15 June to apply for funding.

Digital Enterprise programme manager, Muz Mumtaz, said: “Cutting edge digital technology can have a significant impact on the success of a business and is a vital catalyst for business growth. A small investment can lead to a raft of improvements such as cost and time savings, better customer service, and the opportunity to expand on the products or services you offer. It also provides the opportunity to be one step ahead of your competition.”

He added: “It’s great news for the Leeds City Region that we have been able to reopen the Digital Growth Voucher scheme. It has proven to be incredibly popular with smaller businesses who are often unable to invest in transformational digital technology under their own steam.

“Our scheme can provide significant funding for businesses and applying is quick and easy to do. We have a limited number of vouchers available and I would urge businesses who are interested in taking advantage of the scheme to apply now before it is too late.”

Since its launch in October 2016, Digital Enterprise, which is backed by both the UK Government and the European Regional Development Fund, has agreed funding with over 450 businesses in the Leeds city region, providing more than £1.7m for digital projects. The investment is set to deliver a £5m boost to the regional economy and generate more than 1,200 jobs. Up to 130 businesses will be able to take advantage of the latest round of funding.

To be eligible for Digital Growth Voucher funding, firms must trade in a business-to-business environment, rather than direct to consumers, employ between two and 250 people and generate less than €50m (approximately £43m) turnover. They must also be based in one of the nine Leeds City Region areas of Leeds, Bradford, York, Wakefield, Harrogate, Calderdale, Selby and Craven.

Applications will be evaluated and businesses that demonstrate a greater need for upgraded digital technology or the biggest potential for growth, will be given priority. Businesses can check their eligibility for the new Digital Growth Vouchers, as well as for Connectivity Vouchers, which offer a £1,000 one-off payment towards upgrading a business broadband connection, at www.digitalenterprise.co.uk

This was posted in Bdaily's Members' News section by Emma Kilmurray .