Grants, paid in arrears, to cover business accommodation costs for tech and digital companies moving into South Yorkshire from outside of the region. Staff must have a contract of employment with the company that is applying for the grant support, sub-contractors do not count towards staff figures. One member of staff is considered to be 1 FTE which equates to 37.5 hours per week.
The number of staff refers to the number of individuals with a
direct contract of employment equating to the FTE equivalent relocation to, or being created at the point of moving to the SYMCA region. 1FTE equates to 37.5 hours per week.
No. staff relocating /
new jobs created
Up to 3 staff
Business must be a demonstrable legal entity (Company Number, UTR, etc) currently based outside of South Yorkshire, or have moved from outside of the region to a virtual office or single hotdesk within the last 6 months. If currently in South Yorkshire on a hotdesk/virtual office basis then only increasing the number of hotdesks or taking dedicated office space will be considered eligible costs. Evidence of previous or existing location/current arrangements must be supplied as part of the application process.
Only offices or hot desks in recognised incubators, hubs, workspaces and commercial premises are eligible. Due diligence will be undertaken by the managing authority to confirm that the premises is a commercial workspace. Residential, university based, or other non-commercial space is not eligible expenditure.
Business must have a technology-based product or service as their primary business activity, or plan on making it their primary business activity due to relocating. Agencies developing services on behalf of clients are not eligible. Due diligence will be undertaken on behalf of SYMCA.
Business must be bringing and/or creating jobs in South Yorkshire. This will need to be evidenced and will be monitored to ensure it matches the numbers projected in the application and the level of award.
What will the grant cover?
Accommodation in commercial property within the SYMCA region for a period of 12 months to the maximum value based on the table above.
The grant will not cover:
VAT on any eligible spend.
VAT maybe be paid if the VAT cannot be separated from the accommodation costs. This is at the discretion of the managing authority and judged on a case-by-case basis.
Utilities for the location.
Utilities will be paid if included in accommodation costs such as a licence fee for a co-working space. This is at the discretion of the managing authority and judged on a case-by-case basis.
How the grant will be paid
The total award will be paid in 12 equal monthly amounts.
The grant will be paid in arrears upon the submission of a valid invoice. This can be done on a monthly, quarterly, or yearly basis. This is to support the cash flow and working practices of the business applying for grant support.
If the total grant awarded does not cover the total cost of the selected location for the 12-month period, only the amount covered by the grant will be paid to the business for that month. For example, if the yearly cost of an office is £8000 per annum, and the total grant awarded is £6000, the company would only be eligible to claim a maximum of £500 per month.
Businesses must continue to trade in South Yorkshire for a minimum of 12 months to remain eligible for the grant.