Each beneficiary business will be required to report on both the employment outputs (jobs created and safeguarded) as well as levered match investment outputs delivered by their project. This is set out as an explicit condition of the grant investment offer, along with a reporting schedule that will form part of the contract between the Grow on Growth Fund and the beneficiary business.
Once a beneficiary’s project is practically and financially complete – which in all cases cannot be any later than 31 March 2017 – the business will also be required to provide (at their own cost) an independent accountant’s report confirming whether the grant has been used appropriately for the purposes intended.
Beyond project completion each beneficiary business will report annually for a period of 3 years after any job creation/safeguarding that those employed as a result have remained in post.
Inspection visits will be carried out as necessary to verify the outputs claimed and ascertain progress against the profiled outputs.