Support for businesses
Investment Hub NEL
If you are experiencing or planning for growth in your business in NEL, then the Investment Hub can help you. The Hub can direct you to suitable sources of finance, funding and business support services, as well as identify other local businesses where they think mutual benefits exist. For enquiries, please email [email protected]
Grants, funding, and financial support
In North East Lincolnshire, there are a number of grants available to support inward investment and local businesses which can be accessed through the local authority.
You may need external funds or investment to support your growth or relocation to our area.
This page provides details on current funding streams and advice services available to North East Lincolnshire based businesses.
UK Shared Prosperity Fund (UKSPF)
North East Lincolnshire Council have been allocated £5.2m over the next three years through the UK Shared Prosperity Fund. This is funding to replace the European grant provision, which supports activities and services for our communities and businesses.
The UK Shared Prosperity Fund is a central pillar of the UK Government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK by investing in communities and places, supporting local businesses, and people and skills. If you would like to find out more about the UK Shared Prosperity Fund, find out our investment priorities for our area and have a chance to shape where the funding should go, more details on the UK Shared Prosperity Fund can be found here.
Clean Growth Accelerator Fund
Building on the recently released UK Innovation Strategy the Greater Lincolnshire LEP are inviting organisations and businesses to submit projects that will enable innovation or research and development led ideas focused on decarbonisation and clean growth within the Greater Lincolnshire LEP area to be further developed and progressed. More details are available at Clean Growth Accelerator Fund.
Labour Market Support Fund
The Greater Lincolnshire LEP are inviting organisations and businesses to submit projects that will address labour market challenges. The essential criteria for this Fund will be as follows:
- There is a maximum of £1.7m available in this scheme;
- Scheme proposals can be capital revenue or a combination of both;
- Funding requests should be in excess of £200,000 although consideration will be given to proposals that seek £100,000 if there is a very strong case;
- All funds must be spent by 31 December 2024, and outcomes delivered by 31 December 2025;
- Schemes must demonstrate immediate to short-term impacts and evidence clear outcomes.
Visit the Greater Lincolnshire LEP website for details on which barriers to employment and categories that will be considered for funding.
Smarter Energy NEL – Support for NE Lincolnshire Businesses to Reduce Energy Bills
Key benefits for registered SMEs are:
- Fully funded Energy Audit identifying costs and savings for energy savings upgrades;
- Advice on energy management techniques;
- Research into low carbon and environmentally sustainable measures or working practices and support to adopt these in your business;
- Decarbonisation plans;
- Signposting towards the NELC UK Shared Prosperity Fund which can offer grants towards energy-saving measures.
Find out more about Smarter Energy NEL or contact the team via [email protected] or, by telephone, on 01472 252780.
Activation & Community Engagement Fund
A brand new Activation and Community Engagement (ACE) Fund has been launched as one of the six Grimsby town centre projects which form Grimsby’s Towns Fund.
The ACE Fund, which is ring-fenced to Grimsby Town Centre, will offer grants of £500-£25,000 to business ventures and community-based organisations in Grimsby to bring forward activities that will add local interest to the larger regeneration projects already underway.
Developed through consultation with local people and organisations about what would make a difference to the town centre, there is a grant allocation of £850k to deliver the Activation Fund from the £20.9m Towns Fund awarded to Grimsby, will be phased across the next three years to support the establishment of alternative activities in Grimsby town centre.
The fund will cover projects that fit with at least one of the following six town centre priorities identified in the Masterplan:
- Introduce more diverse uses to the town centre;
- Reconnect the town centre and the community with the waterfront;
- Promote and support community ownership and participation;
- Identify development opportunities within the town centre, including low-carbon initiatives;
- Prioritise health and wellbeing activity in the town centre;
- Enhance employment, skills and entrepreneurial opportunities.
To find out more about the fund or submit an application, visit our Town Deal page.
Innovate UK
Innovate UK is the UK’s national innovation agency. We support business-led innovation in all sectors, technologies and UK regions. We help businesses grow through the development and commercialisation of new products, processes, and services, supported by an outstanding innovation ecosystem that is agile, inclusive, and easy to navigate.
Find out more at Innovate UK – Innovation & Development Funding
UK Seafood Fund – Infrastructure Scheme – Round 3
The Infrastructure scheme of the UK Seafood Fund will invest at least £65 million in grant funding for infrastructure projects. The scheme will strengthen the seafood supply chain through infrastructure projects and bring social and economic benefits while reducing the seafood industry’s impact on the environment.
Round 3 will focus on modernising the fleet through engine replacements. Up to £2 million in grant funding is available to modernise the small-scale coastal fleet with replacement engines.
Defra will fund the replacement and fitting costs of:
- New electric and hybrid engines, to replace petrol and diesel engines of any age;
- New petrol and diesel engines, to replace existing petrol and diesel engines manufactured before January 2011;
- Modifications to a vessel that are required to install a new engine.
Value: Up to £2m
Deadline: 13 December 2024
Made Smarter
The UK is set to be the global leader in the creation, adoption & exportation of advanced digital technologies. Now is the time for manufacturing to evolve and with emerging technologies the possibilities are endless.
This not-so-distant future will boost our economy and create new jobs. Want to be part of it?
We can help you to leverage the power of these tools. The manufacturers of tomorrow use technology to streamline their processes. They are faster, more responsive, and more efficient. Ultimately, they make better products for less. Made Smarter helps you secure this competitive edge.
Find out more about the Made Smarter programme.
Can’t find what you’re looking for?
For a wide range of funding options available to businesses in North East Lincolnshire visit InvestNEL.
Further grant and support options can be found by using the Business Lincolnshire Grants and Support Finder tool and the Gov.uk Find a Grant tool.
