Ecuity Expanding Thanks to EU Grant Support
Published on Wednesday, 09 April 2014
Ecuity provides expert advice to companies in the UK and internationally on the political aspects of developing markets for low carbon energy solutions. The firm was founded by James Higgins and Dave Sowden in 2012 and currently employs 15 people.
The company advises on a wide range of issues including whole-house energy efficiency retrofits via Government’s Green Deal programme, renewable energy generation and smart grids. Focusing solely on the low carbon sector has allowed Ecuity to develop an intuitive understanding of the energy sector and the wide range of policies that shape the market.
Ecuity is one of a growing number of companies in the Greater Birmingham and Solihull LEP (GBSLEP) area to have benefitted from the Business Development Programme. The funding has been used to expand into new offices at Radcliffe House, Blenheim Court, Solihull.
James Higgins, Partner, said:
“The BDP Grant has come at a perfect time in our development, moving into a larger open plan office has enabled us to create a workspace consistent with our values and our brand. It’s really helped us rethink the way in which our staff collaborate and share ideas and new ways of working.”
Councillor Ian Courts, Cabinet Member for Economic Development at Solihull Council said:
“It is great to see the Business Development Programme support the growth of local companies such as Ecuity. Finance is a key issue for businesses and this programme is providing a stepping stone that enables organisations to realise expansion and recruitment plans.
“Already more than £2 million of grants and ‘match funding’ has been secured across the programme, together with the creation of over 300 jobs. Businesses tell us that the biggest obstacle to growth is a lack of access to bank finance. This innovative programme is an essential resource that is supporting business growth in Solihull and the West Midlands.”
The Business Development Programme is an £8 million business support programme aimed at helping more than 400 companies across the GBSLEP area.
To qualify for funding of between £10,000 and £15,000 towards business expansion projects, companies have to have been trading for more than six months and have expansion plans ready to implement that will safeguard existing jobs or create new ones. The programme operates across the whole of the GBSLEP area, meaning eligible firms across Solihull borough can apply.
The Business Development Programme grant is available to businesses in eligible sectors that are located within the Greater Birmingham and Solihull Local Enterprise Partnership area. The grant covers 45% of the costs of an eligible project, subject to satisfying criteria and approval.
For more information about the programme please contact Solihull Council’s Business Support team on 0121 704 6151 or email business@solihull.gov.uk.
Entry criteria
Business Development Programme
Designed to help more than 400 qualifying existing small and medium-sized businesses to implement their growth and expansion plans.
a) The business must be profit-seeking and have been trading for more than 6 months.
b) The business must be a small to medium sized enterprise (SME), ie
have between 1-249 employees
have an annual turnover less than £42m
have a balance sheet less than £36m
is less than 25% owned by a larger company or combination of larger companies.
c) The business's premises must, or will be going to, pay its business rates to one of the local authorities within the GBSLEP area, ie Birmingham, Cannock, East Staffordshire, Lichfield, North Worcester (Bromsgrove, Redditch, Wyre Forest), Solihull or Tamworth.
The business must be in an eligible SIC code and activity area.
The business should not have received more than 200,000 euros of State Aid assistance in the last 36 months.
Financial Assistance applications must be for business expansion projects costing a minimum of £22k and creating/safeguarding at least 1 FTE post.
The business must have a current business plan.
An administration fee of between £300-£450 will be required on successful applications.