What are assisted areas?
Assisted Areas are clearly defined parts of the country in where businesses can access higher levels of financial public support. Large companies (with more than 250 staff), which are usually ineligible for public support, can be eligible for grants if located in an Assisted Area. Companies with fewer than 250 staff can access funding to cover a greater proportion of their project costs than those located outside Assisted Areas.
Which areas of Bradford District have Assisted Area status?
Assisted Area status is awarded to specified local authority wards. In recent years, Assisted Area coverage has not been applicable to Bradford District. Following a recent review however, Assisted Area status coverage has been awarded to the following five wards until at least 2020:
- Bowling and Barkerend
- Bradford Moor
If you are unsure which ward your business or a property is located in, you can find out by entering the postcode at www.ukassistedareasmap.com
What are the advantages of Assisted Area status?
The main way that companies in Assisted Areas can access public support is through grants, available from both central government and the Leeds City Region Enterprise Partnership, which cover a proportion of the costs of a project which will increase employment and/or economic growth.
The table below illustrates the increased support that can be offered to companies in Assisted Areas. Companies will be required to ensure private funding is in place to cover the remainder of the projects’ cost. The table is for indicative purposes only. Most grant schemes will be subject to an application process, and the actual level of support may vary once all factors are taken into consideration.
Maximum proportion of project costs that can be met through grant:
fewer than 50 employees
50 to 250 employees
more than 250 employees
|Not in assisted area||20%||10%||Not eligible|
|In assisted area||30%||20%||10%|
What types of businesses and projects are eligible for support?
Businesses of all sizes and in all sectors can access support, with the exception of companies engaged in agriculture, fisheries and transport. Support is not available to companies in these sectors due to EU guidelines. Companies experiencing financial difficulties are not eligible for support through regional aid.
Support is available for both businesses already located in Assisted Areas, and those looking to expand or relocate into an Assisted Area.
What is business premises renovation allowance?
Business Premises Renovation Allowance (BPRA) is designed to encourage conversion and renovation of empty business properties in specified 'assisted areas'. BPRA provides a 100% tax relief to property owners on money spent on conversion or renovation works on a building. The relief is available to individuals and partnerships as well as companies.
To find out more about the Business Premises Renovation Allowance click here.