Keighley and Shipley businesses are being invited to apply for grants of up to £315,000 to help them grow or develop – and several businesses are already benefiting.
The Keighley & Shipley Towns Fund Business Growth Programme is a capital grant to support businesses to develop and grow within the Keighley and Shipley Towns Fund Areas. The Programme is designed to help new start-ups and small, medium-sized and large businesses based in, or looking to move to the Keighley and Shipley Towns Fund areas. The funding can be used to either expand, increase productivity, create a new business, safeguard existing jobs and/or create new jobs.
The Towns Fund is a Government-funded support programme to boost the economies of towns across the UK. The programme is part of the Government’s Levelling Up plan. Decisions on grants are made by Towns Fund Boards for each town, which are made up of private sector representatives with support from Bradford Council.
The scheme has secured £33m for projects in Keighley and £25m for Shipley. The Business Growth Programme Capital Grant is a £4m fund to directly support businesses within these areas with £2m each allocated to the Keighley and Shipley Towns Fund areas.
The grant scheme was launched in the last quarter of 2022 and is now open for applications. Businesses can apply for grants of £1,500 to £315,000 at an intervention rate of ten to 30 per cent. Businesses will need to provide quotes for their capital projects and other supporting information, including financial details, proof of ownership of the property or of a minimum three-year lease.
The programme can also help businesses to invest in ‘greener’ measures, such as solar panels, double glazing and more energy efficient roofing, if such investments aid increased productivity, efficiency, growth and job creation or protection.
Projects already supported by the scheme include:
- Yorkshire Precision Engineering Ltd, Keighley had their application approved to fund a new type of lathe to increase production capabilities and allow the development of new products for the healthcare sector, a new market for the business.
- Pave Haworth Ltd, a deli and bistro in Haworth – funding to extend into empty premises next door. The money will part-fund work to expand seating capacity, and extend the kitchen and basement. The project will also create three new full-time jobs and a number of part-time and seasonal posts.
- Chef Akila Ltd, an Indian ready meal manufacturer, received funding to fit out their new premises in Keighley. They also bought new equipment, employed new kitchen staff and were able to work more closely with suppliers as productivity increased.
- Byworth Boilers Ltd, a manufacturer of industrial boilers, has had its grant application approved to help replace old bending rolls with a larger capacity new set of CNC Davi rolls which will allow the company to improve productivity and increase capacity. The investment will also create five new jobs.
Councillor Alex Ross-Shaw, Bradford Council’s Portfolio Holder for Regeneration, Planning and Transport, said: “This funding is already reaping huge benefits for the businesses who have received it so far and has the potential to boost the economies of Keighley and Shipley. I hope other businesses will take advantage of it.”
Ian Hayfield, Chair of Keighley Towns Fund, said: “These projects will help achieve real social and economic change for all parts of Keighley’s diverse community.”
For an Expression of Interest form or to read more about Towns Fund Business Grant Programme and eligibility criteria.
