Growing Business Fund Grant Panel Meeting Minutes (Unconfirmed)
Wednesday, 05 May 2021 | 10.00am - 12.30pm
Held via conference call on Microsoft Teams
Present - Panel:
Mike Burrows (MB)
(Chair)
Martin Ince (MI)
Martin Ince Communications
Jackie Potter (JP)
Micropress Limited
Dominic Keen (DK)
Britbots
Daryl Griffiths (DG)
Burnett Barker Solicitors
Dr Sumathi Sundram (SS)
S&V Consultants Limited
In attendance:
Julie West (JW)
New Anglia LEP
Rose Joy (RJ)
New Anglia LEP
Allen Hall (AH)
Finance East
Amanda Castell (AC)
Finance East
Neil Sargent (NS)
Finance East
Guy Gibson (GG)
Suffolk County Council
1
Welcome and Introductions
MB welcomed members and two new GBF Panel members, Allen Hall, Head of Finance East replacing
Stuart Ager and Guy Gibson, Suffolk County Council replacing Vimmi Hayes. Introductions made.
Meeting quorate.
2
Not present on telecon call
Apologies received: Chris Dashper, New Anglia LEP; Jason Middleton, New Anglia LEP; Paul Stewart,
Center Parcs; Kathy Atkinson, Kettle Foods Limited and Roberta Willner, Norfolk County Council
3
Election of Chair and Deputy Chair
Under the GBF Terms of Reference, the roles of Chair and Deputy Chair are to be elected on an annual
basis, at the April GBF Panel meeting. As there was no GBF Panel meeting held in April, the Panel
election has been brought forward to this meeting. Election proposals put to the Panel. MB to continue as
Chair and DG to act as Deputy Chair. Voting held and all agreed.
4
Declarations of Interest and GDPR
None declared.
5
Meeting Minutes: Panel Meeting held on Wednesday, 05 March 2021
Meeting notes approved.
6
New Applications for Approval (4)
(1) Broadland Radiators & Heat Exchangers Limited - Agreed to support.
£25,800 - GBER
Three new full-time jobs to be created.
NS provided background information on the grant application. An application to make new
property site fit for purpose, to accommodate relocation, from their current premises. Noted the
new building is bigger and will enable increased production capacity. Panel discussed company
funding and the property purchase details. NS has received assurance from Broadland Radiators
& Heat Exchangers Limited that there will be a formal lease between the two companies.
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Recommendations: (a) the spend for the property purchase appears in the trading company
balance sheet as an asset and (b) a formal market value lease is in place for the two companies.
The Panel noted the business has been heavily impacted by Covid, and still in a difficult period, so
the move to bigger, more suitable, premises will enable the company to transition, diversify and
recover. General discussion took place. Panel suggested the company may benefit from
expansion into different areas in due course.
(2) Two Magpies Bakery Limited - Agreed to support.
£44,000 - GBER
Twelve full time jobs to be created.
NS provided background information on the grant application. General discussion took place. A
good project.
(3) Flexion Global Limited - Agreed to support.
£194,700 - GBER
Thirteen full-time jobs to be created.
NS provided background information to the grant application and general discussion took place. A
straight-forward application by a successful, local business, with ambitious growth plans, operating
in a LEP priority sector. Panel noted purchase of the new building will also bring local benefits in
returning the building back into commercial use.
Panel made observation that the new jobs are low paid and that going forward the company may
need to lift their salaries to employ good quality staff.
(4) A further application was considered and declined by the Panel.
7
Small Grant Scheme (SGS) | Growth Through Innovation Fund (GTIF) Updates
JW made observation made that, overall, applications are coming through in small batches for all the
grant schemes.
Small Grant scheme
The Panel noted the award of four grants in the month of February 2021, totaling £14,756 (Grants
Awarded) and £78,788 (Total Project Cost). Two grants withdrawn. See Annexe 1.
The Panel noted the award of four grants in the month of March 2021, totaling £40,807 (Grants Awarded)
and £204,037 (Total Project Cost). Two grants withdrawn. See Annexe 1.
Small Grant Scheme balance - £21k available for award. MB made observation that we need to foster
the smaller grants as they do make a big difference.
Growth Through Innovation Fund (GTIF)
The Panel noted the award of two grants in the month of February 2021, totaling £49,000 (Grants
Awarded) and £104,800 (Total Project Cost). See Annexe 2.
The Panel noted the award of four grants in the month of March 2021, totaling £99,995 (Grants Awarded)
and £227,435 (Total Project Cost). Two grants withdrawn. See Annexe 2.
8
Funding, Updates and Jobs Creation
Funding and Updates not provided. The Panel noted that Beverley Davies, replacement for Barry
Henson, Suffolk County Council, will take up her post on 10 May 2021 and will join the GBF June
meeting.
JW reported that the New Anglia LEP Grants Team had made a lot of GBF payments recently leaving
only a few grants outstanding for claim and payment.
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Action:
JW to email Panel members an update on the GBF grant payments, as and when it is
received from SCC. RJ to include the grant update into the GBF meeting notes in due
course.
Job’s creation - still seeing jobs created, so total now stands at 2,422 for GBF and ‘old’ SGS.
9
GBF Applications ‘Pipeline’
Finance East have potential applications to bring to Panel but all still in the early stages, of which hopeful
of two applications going to the June Panel.
JW reported the Growth Hub have a strong pipeline.
10
PR and Marketing
JW provided update. Marketing ongoing with the emphasis on a suite of case studies. As GBF has a
buoyant pipeline currently not pushing hard to promote GBF as need to manage expectation.
11
Any Other Business
Meetings - JW reported that the LEP does not intend to return to face-to-face meetings for the
foreseeable future.
The meeting closed at 11.20am.
Meeting via conference call on Microsoft Teams
Wednesday, 02 June 2021 | 10.00am - 12.30pm
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