A grant scheme to encourage new and start up small businesses is launched later this week (Nov 1).
Richmondshire District Council’s ‘Small Business Grant’ scheme has a pot of £60,000 to encourage the formation of new enterprises and stimulate the growth of established small businesses.
Grants will be targeted at new business start-ups and businesses less than three years old with no more than five employees. Businesses must demonstrate a need for the grant and provide a Business Plan with a financial forecast outturn.
Applications will be decided on a ‘first come first serve’ basis and the scheme will close following the allocation of the £60,000.
They can be made towards:
- necessary machinery and equipment (excluding vehicles and consumables)
- extension, adaptation or improvement of facilities within premises (not for structural repairs or maintenance of existing buildings or installation of utilities)
- marketing where it forms part of a promotional programme, and is likely to lead to additional jobs
The scheme will provide a maximum of 75% of the project cost – up to £1000.
New and start-up businesses must have discussed their project idea with a Business Growth Manager prior to submitting an application while businesses that are already established - aged up to 36 months - must have discussed their project and had a business appraisal with a Business Growth Manager.
Community groups, not for profit organisations, charities, individuals, social enterprises and statutory bodies such as parish councils are not eligible to apply into this funding scheme