Where can I get GBI ?
GBI is now available to small and medium-sized enterprises across the whole of the region, as well as to large businesses in the more deprived areas of the East Midlands.
A small enterprise is defined as an enterprise that has fewer than 50 employees and:
- Has either an annual turnover or an annual Balance Sheet total not exceeding €10 million; and,
- Is not more than 25% owned by one or more enterprises or does not itself have a holding of more than 25% in any other enterprise.
A medium-sized enterprise is defined as an enterprise that has between 50 and 249 employees and:
- Has either an annual turnover not exceeding €50 million or an annual Balance Sheet total not exceeding €43 million; and,
- Is not more than 25% owned by one or more enterprises or does not itself have a holding of more than 25% in any other enterprise.
If you exceed any of these definitions you are a large business.
Simply put, there are two types of areas that have slightly differing criteria and maximum potential grants: the Assisted Area and the rest of the region.
In the region’s Assisted Area, GBI can support small and medium-sized enterprises and large businesses.
Across the rest of the East Midlands, GBI can only support small and medium-sized enterprises.
An Assisted Area is an area that has relatively low levels of economic activity and high and persistent unemployment. This is often as a result of the decline in traditional manufacturing industries. These areas can be found in all regions of England, as well as Northern Ireland, Scotland and Wales, and have been designated up until 31st December 2013.
In the East Midlands, the Assisted Area is effectively the former North Derbyshire and North Nottinghamshire coalfield area. If you think that you are located or are looking to locate in this area, you can check your postcode or access a list of Assisted Area wards by clicking on the link below.
Links:
Assisted Area postcode checker
Information on:
Assisted Area eligible wards
|
Grant for Business Investment (GBI)
