Basically there are 3 ways to apply for Objective One funding.
1. Umbrella Funds for small projects
Umbrella funds are aimed at helping individual businesses access Objective One funding. They are set up to help projects with a similar theme, such as farm tourism and speciality food & drink production. Others provide repayable interest-interest loans or small start-up grants.
Umbrella Funds are already up and running and more are in the pipeline.
Each Umbrella Fund has its own co-ordinator who will discuss your ideas with you and help you complete the application form.
2. Projects can go through the Integrated Area Plan
If you're a partnership, co-operative or community project with total costs of up to £1 million, then you need to apply through the Isles of Scilly Integrated Area Plan. You will need to submit your application form and a business plan to the IOS Partnership for approval and support.
The next step will be to submit the application to Government Office South West for appraisal, this generally takes 3 months.Luckily, there is a quicker 6 week system for projects wanting up to £25,000 of European grant (total costs £50,000). Your IAP Facilitator (Aisling Hick economicdev@scilly.gov.uk) at the Council of the Isles of Scilly can help you through this process.
3. Larger projects can apply direct to Objective One
All projects will need to submit an application form, a business plan plus other support material. Government Office South West would expect such projects to be supported by the Isles of Scilly Partnership.
FREE business advice from the Business link
Free advice is available to all business whether you are a start-up or an existing business. Contact Business Link on 0845 600 9966 and ask to speak to one of the business advisors. You can also visit us at Business Link (www.businesslink.gov.uk).
