The Towns Fund is a £3.6 billion fund for towns across the UK to support local economic growth. Penzance and St Ives are two of 101 towns nationally, and 4 in Cornwall, that have secured Town Deal Funding. Cornwall Council is the Lead Authority for the Town Deals programme in Cornwall. We support the governance of the Town Deal Boards in both towns.
Further information about other Town Deal activity in both St Ives and Penzance can be found on their individual websites
The Town Deal Enterprise Grants will support Small and Medium Sized businesses. It will provide capital grants to encourage business start-ups and scale ups. This growth and development will provide new opportunities, jobs and stronger supply chains.
Each town has a bespoke offering. Please select from the following options to find out more about each specific fund:
Please follow the link below to show the boundary area for St Ives Town Deal. Your project must be located within the boundary in order to be eligible for support.
Priorities
- To support St Ives and its business community to adapt to a changing economic environment caused by global and national issues. Awarding capital grants to businesses to enable them to adapt and grow in their operations.
- To support new start-ups, scale ups and businesses who want to diversify their offering into new growth sectors
- To support individual businesses to develop and grow to achieve sustainable growth and create new employment for local people
- To support projects that create high value employment. For example: year-round, above average salaries and progression opportunities
- To add value to other Town Improvement Plan projects by supporting businesses which in turn will engage with TIP projects
More information about St Ives Town Improvement Plan (TIP) is available here:
The minimum grant available is £2,500 and the maximum is £150,000. The process you will follow will depend on the amount of funding your project requires. The level of detail requested in your application form will be proportionate. Please note we can fund capital costs only.
St Ives Enterprise Grants Scheme
| Strand | Grant range | Grant rate | Minimum match funding needed from applicant |
|---|---|---|---|
| Tier 1 - Small | £2,500 - £20,000 | 75% | 25% |
| Tier 2 - Medium | £20,001- £50,000 | 65% | 35% |
| Tier 3 - Large | £50,001 – £150,000 | 55% | 45% |
Tier 1 and 2 applications will be delivered in rounds, Round One closed on 12 June 2023. We anticipate Round Two will go live again in September. If you wish to register your interest for round 2 please email grants@cornwall.gov.uk.
Tier 3 - Large
For applications seeking over £50,001 of grant. Please complete the Expression of Interest form accessed through the Grant Management System (Grant Registration Form). After submission this will be presented to the next Town Deal Board meeting for their consideration.
Further details on how to complete the Expression of Interest form can be found here:
Tier 3 applications will be accepted and appraised on a rolling programme. This means that applications are welcome at any point while funds remain available.
An example application for St Ives
An example of a completed application form and enterprise grant cost and finance form be found here:
- Example of an Enterprise Grant Scheme Application
- Example of a completed Enterprise Grant Cost and Finance Form
All project activity will need to be practically and financially delivered by December 2025
Other documents to support your application
- St Ives Enterprise Grant Scheme Objectives And Town Investment Plan Objectives And Outcomes
- Town Deal Enterprise Grants Procurement Guidance
- Town Deal Ethical and Sustainable Procurement Information
- Town Deal Planning Guidance
- Town Deal Enterprise Grants Privacy Statement
- Town Deal Enterprise Grants FAQs
Help and assistance
Do you have any queries regarding an Enterprise Grant application or require support? If so, please email grants@cornwall.gov.uk with subject heading Applicant Support Required. A member of the team will then contact you.
Please follow the link below to show the boundary area for Penzance Town Deal. Your project must be located within the boundary in order to be eligible for support.
Priorities
- To support Penzance and its business community to adapt to a changing economic environment caused by global and national issues. Awarding capital grants to businesses to enable them to adapt and grow in their operations.
- Investments in high street businesses to improve vibrancy in the town centre
- To support new start-ups, scale ups and businesses who want to diversify their offering into new growth sectors
- To support individual businesses to develop and grow to achieve sustainable growth and create new employment for local people
- Reducing the number of empty / underused premises through investment to enable them to be brought back into use.
- To add value to other Town Improvement Plan projects by supporting businesses which in turn will engage with TIP projects
More information about Penzance Town Improvement Plan (TIP) is available here: www.penzancetownfund.co.uk
The minimum grant available is £2,500 and the maximum is £250,000. The process you will follow will depend on the amount of funding your project requires. The level of detail requested in your application form will be proportionate. Please note we can fund capital costs only.
Penzance Enterprise Grants Scheme
| Strand | Grant range | Grant rate | Minimum match funding needed from applicant |
|---|---|---|---|
| Tier 1 - Small | £2,500 - £10,000 | 75% | 25% |
| Tier 2 - Medium | £10,001- £50,000 | 65% | 35% |
| Tier 3 - Large | £50,001 – £250,000 | 55% | 45% |
Tier 1 and 2 applications will be delivered in rounds, Round One closed on 30 May 2023. We anticipate Round Two will go live again in early Autumn. If you wish to register your interest for round 2 please email grants@cornwall.gov.uk .
Tier 3 - Large
For applications seeking over £50,001 of grant. Please complete the Expression of Interest form accessed through the Grant Management System (Grant Registration Form). After submission this will be presented to the next Town Deal Board meeting for their consideration.
Further details on how to complete the Expression of Interest form can be found here:
Tier 3 applications will be accepted and appraised on a rolling programme. This means that applications are welcome at any point while funds remain available.
An example application for Penzance
An example of a completed application form and enterprise grant cost and finance form be found here:
- Example of an Enterprise Grant Scheme Application
- Example of a completed Enterprise Grant Cost and Finance Form
All project activity will need to be practically and financially delivered by December 2025
Other documents to support your application
- Penzance Enterprise Grant Scheme Objectives and Town Investment Plan Objectives And Outcomes
- Town Deal Enterprise Grants Procurement Guidance
- Town Deal Ethical and Sustainable Procurement Information
- Town Deal Planning Guidance
- Town Deal Enterprise Grants Privacy Statement
- Town Deal Enterprise Grants FAQs
Help and assistance
Do you have any queries regarding an Enterprise Grant application or require support? If so, please email grants@cornwall.gov.uk with subject heading Applicant Support Required. A member of the team will then contact you.
Need help?
Most issues can be resolved online, it's the quickest and most convenient way to get help.
Use our contact us form- Economic Development
- economicdevelopment@cornwall.gov.uk
