General discussion took place on the cost of machinery and feasibility of using funds from the sale
of redundant machinery/vehicle. Proceeds to be shown in business account. SCC to monitor.
(b) Timber Frame Management Limited - Agreed to support
Approved Grant: £35,662
Two full-time positions to be created. General discussion took place on timelines for purchase of
equipment and job creation, how this will impact business growth.
Condition: New Leases to be signed prior to grant payment.
Screenworks Limited application was not considered this month, as their evidence of match
funding had not been made available in time. Application to be re-submitted at the September
Growing Business Fund Panel meeting subject to confirmation of match funding being available.
BH updated the Panel on the overall funding position, job creation and updates on four previously
approved grants where there have been recent developments:
Growing Business Fund - just over £200k has been paid out since the last Panel meeting, making the
total for the year thus far £1.16m, with a further £1.06m committed including today’s Approvals, leaving
£629k still to be allocated plus the additional £1m provisionally approved by the Board, if needed.
A further 18 jobs have been evidenced since the last Panel, making the overall total now 2,168.
BH referred to recently changed rules on job evidence in the Small Grant Scheme, as a result of GDPR,
and would be seeking the LEP’s approval to align the Growing Business Fund jobs requirements, as
some businesses were now questioning supply of personal data.
Small Grant Scheme - BH advised that overall Small Grant Scheme spend is now £2.16m (239 grants)
with 39 further grants approved but not yet claimed - £536k. There is £526k of unallocated funding
remaining. Average grant value is £9.6k.
The new products and services target for the whole programme has now been passed (61 against target
53) and the jobs total from the Small Grant Scheme now stands at 107 (jobs not a requirement).
Programme extension - JM provided update. Proposing to submit a request to Ministry of Housing,
Communities & Local Government (MHCLG) for an additional £500k and an additional year of extension.
The Panel noted that the New Anglia Business Growth Programme is one of MHCLG’s highest
performing programmes and MHCLG are delighted.
Weco Engineering Ltd - Planning Permission still not obtained as further Surveys required therefore
verbal Offer of grant has been withdrawn. Business to start the application process again and re-apply
when Planning Permission has been obtained.
Anglia DNA - gone into liquidation. BH registered SCC’s interest with the Liquidators. Original grant was
£80,000.
Mattressman - entered into a CVA, after largely reversing a decision to bring manufacturing in-house.
SCC clarifying retention of the assets supported by the original grant.
Liquid Digestate Limited - a further Monitoring Report received, but still no tangible developments on
the grant-funded Project. A fully detailed Business Plan has been promised.