Decision Maker: SCR - Business Growth Board
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Award of £30k grant to Company 15
subject to the conditions set out in the Appraisal Panel Summary
A report was received to enable the Board to take a decision whether to support the proposal of a Business Investment Fund (BIF) Productivity Challenge grant of £30,640 to a company that provides IT solutions and support to SME’s and charitable organisations.
The grant would allow the company to develop software and integrated tools to assess and manage client infrastructure, to improve client service, productivity, management reporting, process automation and streamlining of other software to reduce cost.
The project is estimated to result in an 85% increase in productivity, with GVA per worker forecast to increase from £22,659 to £42,000, safeguarding of 4 FTE’s and creation of 2 new FTE’s by 2021, considered acceptable value for money for the BIF Productivity Challenge investment.
Report author: Sue Sykes
Publication date: 06/11/2019
Date of decision: 23/10/2019
Decided at meeting: 23/10/2019 - SCR - Business Growth Board