DIGITAL GROWTH VOUCHER SCHEME
Are you considering scaling up your business?
Would you like it to thrive in the Digital Age?
Phase 4 of the Digital Growth Voucher Scheme by Digital Enterprise has gone live on 1st October 2018 and is aimed at growth focused B2B SMEs based in the Leeds City region and is backed by the government, funded by the European Regional Development Fund (ERDF).
Diva Telecom is a chosen supplier of this business support programme, which enables eligible B2B companies to invest in performance-enhancing digital technologies by offering from £2,000 up to a maximum of £10,000 worth of funding.
The objectives are to reinforce and enhance economic growth by subsidising at least 50% and sometimes more of a company’s overall cost of investment.
The minimum value of a project, in order to be considered for the Digital Growth Voucher, is set at £4,000 with maximum value being £12,000 with an overall pot of around £1 million being allocated.
Phase 4 differs in that it will be a competitive process, as opposed to first come first serve basis of the previous phases. Applications will be compared to each other and ranked according to the potential impact of the project.
The intended use of these vouchers is for the acquisition of I.T. hard and software, as well as upgrades to digital connectivity, and include:
- Upgrade to Gigabit Fibre business internet
- Telephone systems
- VOIP telephony
- Tablets, laptops & computers
Voucher allocation are based on competitive, rather than first come first serve basis as was the case with previous phases.
Businesses need to identify and quantify how this digital investment will generate a positive economic impact, and will be compared to each other and ranked according to their potential of:
- Number of jobs created
- Increased turnover
- Increase in speed & quality of digital connectivity
- Profitability enhancement
- Improved efficiency
Emphasis is on being commercial, so applicants must have:
- Been trading in a Business to Business environment for at least 12 months
- Fewer than 250 employees (full time equivalent)
- An annual turnover of below approx. £43 million (€50 m)
- An annual balance sheet total not exceeding £39 million (€43 m)
- Applicants who have previously applied for and/or received funding in a previous phase may apply again for a new project.
Leeds City Region
Local districts covered by this scheme include; Bradford, Calderdale, Craven, Harrogate, Kirklees, Leeds, Selby, Wakefield and York.
Phase 4 runs from Monday 1st October until Friday 9th November 2018, however we recommend that businesses submit their application early, given that the previous phases proved to be extremely popular and were closed early due to high demand.
How Diva can help
Diva Telecom has developed a strong relationship with Digital Enterprise and as a result, we’d like to extend a helping hand to eligible companies wanting to apply by consulting on which technology is worthy or appropriate to invest in, and by providing more information that’s easier to digest.