What can EIS money be used for?

Qualifying business activities include:

• carrying out a qualifying trade
• preparing to carry out a qualifying trade (which must start within 2 years of the investment)
• research and development that's expected to lead to a qualifying trade

The money raised by the new share issue must:

• be spent within 2 years of the investment, or if later, the date you started trading
• be used to grow or develop your business
• not be used to buy all or part of another business