Play a role in the region's success. 
 
Are you interested in helping shape the region's future by advising the South West Regional Development Agency on individual grant applications? Have you got the aptitude to help define and lead on priorities for sustainable economic success?  
 
Then consider becoming a member of the South West Industrial Development Board.  
 
For more information download the SWIDB recruitment advert (Adobe Acrobat Reader Document - 34.30kb). 
 
Other News 
 
Since January 2007 there are even greater opportunities for Small and Medium Enterprises throughout the South West of England. Please see the section on Assisted Areas below for further information.

Introduction

The South West of England Regional Development Agency delivers the Selective Finance for Investment in England (SFI) Grant aimed at businesses of all sizes looking to invest in assisted areas that need a grant to take their vision forward.  
 
The scheme focuses support on high-quality, innovative, knowledge-based projects that lead to long-term improvements in productivity, skills and employment in South West England. The majority of jobs created are expected to be at NVQ Level 2 and above.  
 
Projects such as launching a new business, expanding existing companies, introducing new technology into manufacturing, or taking a new product from its early stages all the way through to production will be eligible for support.  
 
Each application has to meet certain criteria:

• Projects must be located in an assisted area;
• A proven need for financial support;
• Display quality features, such as good skills levels and growth in Gross Value Added;
• Projects must be funded mainly by the applicant or from other private sector sources;
• Projects must involve capital investment on fixed assets such as property or machinery;
• Projects must create new jobs or safeguard existing employment;
• Projects should be viable, competitive and profitable;
• Projects should not be irrevocably committed prior to the application;
• Projects should provide positive benefits to both the regional and national economy.

Under SFI there is now a minimum threshold of £10,000 for grant applications. Grants between £250,000 and £2 million will be appraised within the South West RDA and referred to the South West Industrial Development Board. Any projects needing grants over £2 million will be appraised by the Department for Business, Enterprise and Regulatory Reform (BERR).

Assisted Areas

The Assisted Areas map falls into three categories known as Tiers 1, 2 and 3.  
 
Tier 1 covers the whole of Cornwall and the Isles of Scilly (IoS).  
SFI is available to any size of business subject to meeting the eligibility criteria up to a maximum of 30% of capital expenditure. If you are a medium enterprise this can increase to 40% and for a small enterprise it can increase to 50%.  
 
Tier 2 covers most of the Plymouth area.  
SFI is available to any size of business subject to meeting the eligibility criteria up to a maximum of 15% of capital expenditure. If you are a medium enterprise this can increase to 25% and for a small enterprise it can increase to 35%. A Tier 2 Eligibility Ward List (Adobe Acrobat Reader Document - 24.02kb) is available. 
 
Tier 3 covers the whole of the South West Region not in Tiers 1 and 2.  
SFI is only available to Small and Medium Enterprises. The maximum grant available subject to meeting the eligibility criteria is 15% of capital expenditure for a Small Enterprise and 7.5% of capital expenditure for a Medium Enterprise. 
 
Please read the Small Medium Enterprise (SME) definition (Adobe Acrobat Reader Document - 25.84kb) for confirmation of company status.

Jobs and Skills

Projects must create new jobs or safeguard existing employment. The more your project increases skills and involves investment in the skills base, the more value will be placed on this criterion when considering support. A compulsory test requires all applicants to achieve a weighted average of at least NVQ Level 2 measured by reference to the Standard Occupation Codes 2000 (Adobe Acrobat Reader Document - 1759.87kb).

Productivity and GVA

Productivity remains one of the key tests, but productivity is driven by five main factors: skills, investment, innovation, enterprise and competition, and we are looking for evidence of all of these in applications. A copy of the spreadsheet used to calculate growth in GVA per FTE is freely available. Gross Value Added will form part of the initial appraisal process which we will use to evaluate your project against the performance of your business sector.

SWRDA and SFI

SWRDA has identified eight priority sectors for specific intervention which are crucial for increasing economic growth in the region (Advanced Engineering and Aerospace, Food & Drink, ICT, Tourism, Marine, Bio-Medical and Healthcare, Creative Industries and Environmental Technologies). Tourism is unlikely to be supported by SFI because of displacement considerations but otherwise SFI is seen as one of the tools available to promote the growth of these key sectors. Applications from businesses outside the priority sectors are not ruled out, but would have to score highly in terms of quality features to succeed.

Supporting Documents and Downloads

 
SFI Brochure (Adobe Acrobat Reader Document - 693.13kb) 
 
SFI Application Form (Microsoft Word Document - 769.53kb) 
 
SFI Financial Appendices (Microsoft Excel Spreadsheet - 104.96kb) 
 
SFI Sectoral Restrictions (Adobe Acrobat Reader Document - 91.35kb) 
 
SFI Claim Form (Microsoft Word Document - 169.98kb) 
 
RSA Claim Form (Microsoft Word Document - 187.90kb) 

If you have read the above information and think you are eligible for the Selective Finance for Investment grant, please download the SFI Enquiry Questionnaire (Microsoft Word Document - 101.88kb), and then either return it to us by email or call us so that we can advise you further. 
 
For more information on the Selective Finance for Investment in England (SFI) scheme, please contact: 
 
Business Investment Team  
South West Regional Development Agency 
North Quay House 
Sutton Harbour 
Plymouth 
PL4 0RA 
 
Telephone: +44 (0) 1752 234842 
 
Email: derek.corrigan@southwestrda.org.uk