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 current list of live approved projects.
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.
Due to high levels of uptake the St Ives Town Deal Enterprise Grant Scheme is currently oversubscribed. Applications for Tier 1 and 2 applications are currently closed. At present we are not seeking any new Expressions of Interests for Tier 3 (over £50,000) grants. Budgets will be reviewed in the early summer and updates issued on the Cornwall Council and the St Ives Town Deal websites. You can register your interest at grants@cornwall.gov.uk please provide your name contact details and brief summary of your project and we will add you to our potential project database.
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 are delivered in rounds and we are currently closed to new applications. If you are interested in applying in the future, please email grants@cornwall.gov.uk and we will add your details to the database.
If you have any queries 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.
Further Application Form Guidance for St Ives
The Enterprise Grant Scheme Application below states the questions to be answered to complete your application. There is also an example of a completed enterprise grant cost and finance form.
- Word version of the 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 current list of live approved projects.
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.
Due to high levels of uptake the Penzance Town Deal Enterprise Grant Scheme is currently oversubscribed. Applications for Tier 1 and 2 applications are currently closed. At present we are not seeking any new Expressions of Interests for Tier 3 (over £50,000) grants. Budgets will be reviewed in the early summer and updates issued on the Cornwall Council and the Penzance Town Fund websites. You can register your interest at grants@cornwall.gov.uk please provide your name contact details and brief summary of your project and we will add you to our potential project database.
Guidance to support your application
Aims of the Enterprise Grant Scheme
- 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
Round Two Priorities for investments up to £50,000
The Town Deal Board have discussed the priority investment streams for Round Two of the Enterprise Grant Scheme and have identified three areas in which they are seeking to allocate the next tranche of funds.
Bring empty buildings back into commercial use
Projects that utilise redundant spaces (empty shops / buildings, upper floor space above businesses or unused outdoor areas) to bring them back into use as productive economic spaces. Potential uses could include retail, offices, workshops / manufacturing, leisure or hospitality.
Please note that the provision of self-catering holiday accommodation is not a priority for the Enterprise Grant Scheme.
High Street vitality and streetscape improvement
The traditional role of the high street is changing; we are looking to invest in projects that are pro-actively rising to the challenge and will increase footfall and dwell time in the Town Deal area.
This may include supporting
- new business start-ups
- the expansion / diversification of existing businesses
- night-time economy or events
- shop refurbishment or public realm work to improve the aesthetic appeal of the town deal area
The term “High Street” includes all shopping areas / village centres within the Penzance Town Deal area not just the main town centre.
Experiential Tourism
The visitor economy is important to the Town Deal Area and the ambition is to make Penzance an all-year-round visitor destination. Experiential tourism is defined as activities and experiences that fall outside the standard sightseeing itinerary.
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 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.
Further Application Form Guidance for Penzance
The Enterprise Grant Scheme Application below states the questions to be answered to complete your application. There is also an example of a completed enterprise grant cost and finance form.
- Word version of the 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
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.
