St Ives Enterprise Grant Scheme To Open for Third Round of Funding

More funding available for local businesses

Small to medium-sized businesses in St Ives are being invited to apply for the third round of the St Ives Enterprise Grant Scheme, which opens on 1st October 2024. Administered by Cornwall Council’s Economy and Skills Service, the scheme offers financial support for capital projects such as building works or new equipment, providing businesses with an opportunity to expand or diversify.

Following two successful rounds, where over £1 million was allocated to local projects and more than 50 jobs were created or safeguarded, a limited amount of additional funding is now available. Grants of up to 75% will be awarded, with priority given to projects that enhance local services, reduce the town’s reliance on tourism, or improve the appearance and function of premises.

Previous success and aims of the scheme

The Enterprise Grant Scheme, funded as part of the £19.9 million St Ives Town Deal, aims to boost the local economy and support sustainable regeneration. It’s one of nine projects in St Ives funded by the UK Government’s Town Deals programme, which is designed to stimulate economic growth through urban regeneration, connectivity, skills, and enterprise infrastructure.

Businesses that have already benefited from the first two rounds of the grant scheme have received funds for projects ranging from purchasing equipment and improving shopfronts to expanding premises and renovating derelict buildings. A full list of previously approved projects is available on the St Ives Town Deal website.

Key criteria for round three applicants

Businesses interested in applying for the third round of grants will need to meet specific criteria, with a focus on projects that:

• Improve services for local residents, particularly year-round retail businesses
• Diversify the town’s economic base, moving away from a reliance on tourism
• Enhance the exterior of premises, using designs that complement the character of the town
• Increase customer flow and turnover by improving the interior of buildings

Applications for this round will be open for six weeks, closing on 15th November 2024. A detailed guidance pack is available to help businesses through the process, and Town Deal Co-Ordinator Elizabeth Gilbert will be offering in-person appointments to provide further support.

Encouraging further investment in St Ives

Louis Gardner, Cornwall Council’s portfolio holder for economy, highlighted the positive impact the grant scheme has already had on St Ives. “It’s been great to see over £1 million allocated to 43 live projects through the Enterprise Grant Scheme,” he said. He encouraged businesses with new projects in mind to apply, noting that the investment is helping to increase vibrancy and expand the town’s offerings.

Further information on the St Ives Enterprise Grant Scheme, including how to apply for a grant, can be found on the Cornwall Council website.

For more details on the wider St Ives Town Deal programme, visit the St Ives Town Deal website.