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Businesses urged not to leave it too late to apply for Future50 job growth scheme

12:48 01 October 2015

Treasury minister Harriet Baldwin, 2nd right, meets entrepreneurs Ali Clabburn, left, CEO Liftshare; Andrea Wake, COO FX home; and James Groves, head of client experience at Indigo Swan, during her visit to learn about the new Future50. Picture: DENISE BRADLEY

Treasury minister Harriet Baldwin, 2nd right, meets entrepreneurs Ali Clabburn, left, CEO Liftshare; Andrea Wake, COO FX home; and James Groves, head of client experience at Indigo Swan, during her visit to learn about the new Future50. Picture: DENISE BRADLEY

Archant

Entrepreneurs looking to grow their businesses are being urged to hurry to apply for places for a new business growth scheme aimed at creating 200 jobs across Norfolk and Suffolk.

Your questions answered

What is Future50?

Future50 is an exciting business growth programme that’s here to recognise the most innovative and pioneering companies from Norfolk and Suffolk. We’ll help to accelerate your growth ambitions through exceptional business advice, inspirational networking events, innovative multimedia business support and access to grant funding.

Can I apply?

Future50 is open to Norfolk and Suffolk’s small-to-medium sized businesses, meaning you should employ less than 250 people and turnnover less than £40 million. Anyone can apply to be a Future50 member but we’re looking for the region’s most enterprising, innovative and exciting entrepreneurs and businesses with the greatest potential.

How do I apply?

Complete the online application, remembering to keep a copy for your records. Your application will be acknowledged and contact by a Business Consultant will follow within 24 hours. Visit www.future50.org to find out more.

What information do I need to complete the application?

The questions are straightforward and designed to establish the journey that your business has made and your strategy for the future relating to growth through projected revenue, profit investment and jobs. We also want to understand how you believe the support of the programme will benefit you.

Is there any cost to apply
for membership?

No, anyone that adheres to our entry criteria is able to apply for Future50. Just see our ‘about’ section for more details and you’re ready to join our community!

Can I apply for membership if I’ve been in Future50 before?

Yes

If I apply this time and am unsuccessful does that preclude me from applying in 2016?

No

I’m not ready to apply yet but would like to do so next spring. Is that okay?

Yes

How much grant can I get?

Grant funding between £5,000 and £50,000 per business at an intervention rate of 20 per cent. i.e. a £25,000 investment could potentially attract a £5000 grant.

What can I claim a grant for?

Revenue and capital items

Can I claim costs

retrospectively?

No, the grant is only eligible towards expenditure which has not yet been committed at the date of application.

Is support available to help

with the application process?

Yes.

Norfolk businesses: email richard.voisey@nwes.org or call 07787 520845.

Suffolk businesses: email vic.short@nwes.org.uk or call 07866 115169

Applications for the Future50 opened last month, but with only 50 places available for the first round of the project, firms are being urged not to leave it too late to get their applications in.

The new-look scheme is being supported by six partners, Nwes, Birketts, Lovewell Blake, Barclays, the UEA, and Archant, publishers of the Eastern Daily Press, and East Anglian Daily Times.

It has been dramatically enhanced thanks to the provision of £1.26m of grant funding from the government’s regional growth fund.

And it means that businesses from Suffolk and Norfolk who are accepted on to the scheme will be eligible to apply for a slice of those funds to help them grow their business and create jobs.

Other benefits of the programme include access to business advice, and the opportunity for networking with other like-minded businesses.

Shaun Lowthorpe, Business publishing editor at Archant, said: “One of the striking things about the Future50 programme to date was how many of the businesses would engage and do business with each other.

“Our role was to provide the opportunities to bring them together and also to tell their stories.

“Applications are currently being received from businesses looking to be on this year’s programme. But a number of you have raised some questions, so we’ve put together a FAQ panel below to try and help. If you have more questions, though, get in touch with me and I’ll do my best to help.”

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