Digital Growth Vouchers

Worth between £2,000 and £12,500, our Digital Growth Vouchers (also known as Digital Trasformation Grants) have helped hundreds of small to medium sized businesses grow by funding their digital investment projects.

With digital technology playing an increasingly important role in helping businesses to grow – can you afford to miss out? The Digital Growth Vouchers offer eligible firms help to fund their digital and IT investments.

Digital technology is transforming the way in which businesses operate, helping them to gain a competitive edge and achieve long term success. The Digital Growth Vouchers, which are worth between £2,000 and £12,500 are designed to help small to medium sized businesses that are looking to grow, by covering some of the costs of their digital and IT investment, so that they can achieve greater profitability and reach their full potential.

The vouchers will fund typically 50% of the cost of a project, however, there is the chance you could receive a higher level of funding depending upon the levels of digital transformation, business performance, productivity and innovation your project will achieve. The total project value must be between £4,000 – £25,000.

The Digital Growth Voucher scheme is a competitive process where proposals are compared to each other to determine those that offer the biggest potential for business growth and digital maturity.

To be eligible for a Digital Growth Voucher, business must operate predominantly in a business to business (B2B) environment (at least 80%).

 

Eligible Investment projects for a Voucher

Digital Growth Vouchers are intended for the acquisition of I.T hardware, software purchases or upgrades to digital connectivity. Funding can only be used for the purchasing of equipment or software and not for the on-going revenue costs of leasing them.

When applying for a voucher it is important that applicants describe the purpose for which the acquired asset or investment will be used and how it will benefit business performance, since our funding is there to help to achieve ‘Additionality’ i.e. to add value. It cannot be used to merely replace old equipment or infrastructure, where no value is added to a firm’s performance, capability or capacity.   Therefore, voucher applications which do not demonstrate how the investment will generate any economic growth or impact for the business will be rejected.

 

Examples of eligible hardware/software solutions for a voucher

- New laptops, desktops or tablet computers, VOIP telephony or networking devices e.g. routers and servers, etc.

- Enhanced digital connectivity – particularly when this leads to download speeds exceeding 30 mbps. However, the grant will only be able to cover the cost of the installation not any on-going revenue costs.

- The acquisition of new software to manage the business including a CRM or ERP. The grant can cover integration and consultancy costs too, but this is capped at 40% of the total project cost.

 

Example: A manufacturing business in Huddersfield is aiming to grow and achieve digital transformation by selling its products online through the commissioning of a new e-commerce website. All products made by firm will be available for customers to purchase.

The website has a total cost of £10,000 (excluding VAT) – which includes costs relating to its design, development and integration. The firm can apply for a Digital Growth voucher worth between £2,000 to £12,500. The business owner expects to see employment growth of 10% and turnover to increase by 20% over the next two years, as a result of this investment.

 

Application Process

We are happy to help you with the application for Digital Growth Vouchers and are able to advise on scheme availability in your area.

Get in touch to see how we can help your business.