Small business grant scheme to launch with £60,000 pot

A grant scheme to encourage new and start-up small businesses will launch later this week.

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 served 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 per cent of the project cost – up to £1,000.

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

Applications and supporting documents can be submitted to business@richmondshire.gov.uk