What is the Voucher Scheme?
Do you have a business idea, but need help with who, where, what or how? Do you want to improve and grow your existing island based business? The Voucher Scheme could help.
The Voucher Scheme programme on the Isles of Scilly is a £1.36 million investment fund, financed by the European Regional Development Fund (ERDF). Financial support is available for local businesses from a minimum of £1,000 to a maximum of £100,000. In most cases offered support will require a proportion of match funding depending on your project plans.
What can the Voucher Scheme fund?
- The costs of construction, acquisition (including leasing) or improvement to immovable property
- The purchase of new machinery and equipment
- Research, development, advice and product design. Including general costs linked to facilitating investments such as architect, engineer, consultation fees, feasibility studies and technical support or the provision of patents, licences, copyrights or trademarks
- IT Solutions, including the sourcing or development of computer software or business websites
- Environmental Measures: Energy-saving and resource efficiency equipment
- Creation of quality, skilled jobs or apprenticeships
- New business start up
The above list is by no means exhaustive, so if you have an idea or plans for the future growth of your local business please do not hesitate to contact us for advice.
What can’t the Scheme fund?
- ‘Business-as-usual’ operations or maintenance costs
- Projects that demonstrate no potential for growth or productivity including business relocation
- Retrospective investment (work already done or started)
- Working capital, supporting wages, stock or training costs
- Certain business sectors including: primary production; retail facilities; synthetic fibres; textiles and clothing; day nurseries; generalised school age education; fishery and aquaculture; processing and marketing of agricultural products
- Bed space
- Residential property
- Farm or fishing businesses to actually farm or fish, but we might be able to add value (please ask for advice)
How do I apply?
Businesses are asked to contact the Voucher Scheme for an informal discussion regarding their potential projects and the eligibility requirements of the programme. During the initial informal discussion the Voucher Scheme Engagement Officer will make an appointment to come and visit you to discuss your project in more detail.
Before meeting with the Voucher Scheme Engagement Officer potential applicants are encouraged to complete an Expression of Interest Form which can be found on the project website: www.iosvoucherscheme.co.uk where you can fill in some basic personal details and outline your initial project ideas. The information provided by you will allow the Voucher Scheme Engagement Officer to provide more focussed project and application specific advice allowing you to accelerate your application submission. Full applications will be invited following these discussions with the Voucher Scheme Team.
If you have any questions about the process the Voucher Scheme team will be on hand to assist you.