If you could get brand new £25k car at half price, you would probably jump at the opportunity and that’s exactly what is happening in South Yorkshire this Year – albeit with Business Funding for Digital Projects.
2015 saw the launch of the Super-Fast South Yorkshire (SFSY) Connection Vouchers and now in conjunction with the EU Regional Development Fund, SFSY are launching a new scheme aimed at improving and enhancing the digital capabilities of Yorkshire Businesses.
What Funding Can I Get?
The voucher scheme is split into two categories, Connectivity and Innovation, each will fund up to 50% of the qualifying project cost.
The “Connectivity” Scheme has a lower voucher threshold and will allow you to claim up to £5000 toward the cost of upgrading and improving your internet. This could be a great opportunity to improve efficiency and speed up your business.
The second scheme is larger and based on “Innovation”. If you are looking to improve your systems such as Computers, Servers and IT, implement new Software or develop New Digital Strategies/Products that require investment, then this will fund up to 50% of the project cost up to £12,499. (Total project cost £25k)
Should you also have a great idea that could benefit Sheffield and the wider community that exceeds the £25k project limit, they are all ears and will make exceptions based on the business case.
Types of Eligible Projects
- New Computing and IT Hardware
- New IT Systems and Software
- New CRM or Bespoke Software Development
- Digital Marketing Initiatives
- Connectivity / Leased Lines
With all funding, the first stop is assessing whether you are eligible? and certain criteria need to be met. You can download more information here, but you need to reach the following;
If you pay business rates within the below boundaries and the address where the connection or innovation will occur is also with these regions, then you meet this criterion. This also applies to businesses that may operate from a residential property – just ensure you pay council tax to one of these authorities.
Eligible areas include: Barnsley, Bassetlaw, Bolsover, Chesterfield, Derbyshire Dales, Doncaster, NE Derbyshire, Rotherham and Sheffield.
Other Criteria Include;
- You must have under 250 Employees
- You must turnover less than €50m
- You must be a Business to Business Company
How is it Being Used?
From initial conversations, many of the companies we talk to are looking to improve their IT infrastructure such as; new servers, switches, computers and connectivity giving them better systems to improve efficiency and business agility.
For many of these companies, the plan for investment wasn’t necessarily for 2017 but taking advantage of rare opportunities to save up to 50% cannot not be sniffed at, and delivers a significant opportunity to profit from rarely available EU funding.
At Netcom, we have a dedicated team handling the Digital Voucher Scheme and have a created a Microsite to help guide and provide further information. We work with you, and guide you through the application process, generate quotes and deliver projects with minimal fuss.
What are You Waiting For?
The Scheme is now up and running but companies cannot rest on their laurels, as the last date for applications is August 2017 so you need to start the process.
You can access our Eligibility Checker Form which will start the ball rolling and our team can get you registered.