Depending on the size and nature of your business, you may be eligible for funding through SEEDA (the South East England Development Agency) which distributes grants of up to £100,000 to Small and Medium size Enterprises (SME’s) looking to develop in the region. The funds are open to companies with an annual turnover of less than around £25 million, looking to invest in freehold building, plant and machinery, building rental (on a minimum of an eight year lease), office equipment, essential vehicles and some one-off costs such as the acquisition of patents. As an organisation, you will need to demonstrate that this expansion or development would not have been possible without the grant, and up to 15% of the fixed cost is open to a Small enterprise (fewer than 50 employees, turnover of less than £4 million), and up to 7.5% for a Medium enterprise (between 20 and 249 employees, turnover not exceeding £25 million).

This fund, entitled Selective Finance for Investment (SFI) is designed to contribute to the competitiveness and regeneration of the region, and help to support quality businesses or projects which deliver higher skills and productivity.

This funding may be of interest to you if you are looking to invest in one of our properties in order to establish or develop your business through property, whether to lease or buy. To find out more, get in touch with your local agent (the Isle of Wight Economic Partnership) or SEEDA, to find out how long it would take for a decision to be made and give you further advice as to your suitability. On the Island, this contact is Matthew Hill, who can be contacted at matthew.hill@iwep.com, or (01983) 535843.