Ambition to Invest
The Ambition to Invest Fund is a discretionary grant fund targeted at new and existing businesses based in South Ayrshire seeking investment funding to grow.
We’ll support eligible businesses looking to raise over £25,000 of fresh investment.
Securing growth capital is often critical to business success. The Ambition to Invest Fund aims to support your business throughout the investment process – from securing the right type and level of investment, to the transition from investment to return on investment.
What can you expect?
- Funding towards expert support in the preparation of investment ready business cases.
- An ongoing and dedicated Business Adviser to support you, particularly during the first 12 month period.
- Access to grant support and expert help during transition from investment to return on investment such as:
- staff training
- small contributions to capital expenditure
- relocation costs when moving to new premises
- additional consultancy
- marketing support to promote new capacity/capability.
If you can tick the two conditions below, Ambition to Invest might be for you:
- You’re seeking to raise fresh finance in excess of £25,000 through Loan Finance, Fresh Equity, Asset Finance or a combination.
- Your business is based in South Ayrshire.
- Ambition to Invest grant support will relate to the scale of your investment to a maximum grant of £20,000.
- Eligible finance will include Loan Finance, Fresh Equity, Asset Finance or a combination.
- Companies raising over £500,000 may be considered for discretionary support.
- Projects will be assessed on their benefit to the South Ayrshire economy, including employment and revenue generated from outwith the area.
- South Ayrshire Council provides loan finance through Business Loan Scotland. Please talk to your Business Adviser for more information.
- If your business has made an investment of £25,000 or more in the last 6 months, this programme may still be able to provide support.
What happens next?
- Please talk to your Business Adviser to discuss your next steps.
- If you don’t yet have an Adviser, please register here to discuss the next steps.
The Small Print
- All grants are subject to South Ayrshire Council’s Standard Terms & Conditions
- Grants are discretionary and South Ayrshire Council reserves the right to refuse any grant at its sole discretion. The Council reserves the right to vary the amount of grant at its sole discretion.
- Consultants used for the preparation of investment ready business cases will be provided free of charge to a maximum of three business days.
- Value of implementation grant funding will be based on economic return and scale of investment and will be provided at a rate of 50% intervention up to a maximum of £20,000. (see above)
- Where applications have any amounts owing to South Ayrshire Council, this will be taken into consideration in determining grant eligibility.
- The provision of false information may lead to prosecution.
- Grants can only be paid into business bank accounts.
- The VAT elements of the project costs are not eligible for grant assistance.
- Projects that have the effect of causing displacement in the local market will not be supported.
- Written approval of the grant must be received before any expenditure is made on the project.
- Award of grant will be conditional on the applicant(s) proving that they comply with all current statutory employment and related legislation.