News

Grants Available 2020/21

Inverclyde Council has provided an update on the Grant & Loan support that they currently have in place.

Business Training Support

Business Training Support of up to 50% of total costs to a maximum of £2,000 for training for business development which will have potential to improve the business turnover / profitability or employment.
Training should be aimed at management and key workers and have a notional competency threshold of around VQ Level 3. Training that is a statutory requirement or mandatory, cannot be funded through this grant.
BTS provides 'gap' funding - the minimum finance needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

SBA Marketing Grant

The New Marketing Grant offers support of up to 50% of total costs to a maximum of £500 (unable to pay for VAT) for all marketing activities.
Examples of Marketing activities:-
Vehicle Wrap
Promotional (trade journals, business directories, magazines, vehicle signage)
Exhibition material
Direct mail campaigns
Developing company website (moving to a content managed system, search engine optimisation, developing and integrating social media)
On line advetisements/email campaigns
Eligibility Criteria: Open to all businesses with the exception of those operating in the retail sector, or any other sector where there is likely to be high displacement of other local business. Must show a need for Gap Funding.
Application Guide: Completed application form, up to date accounts and possibly a Business Plan. Three quotes for the requirements.

SBA Business New Start Grant

Offers support of 50% of total costs to a maximum of £500 (excluding VAT) for capital expenditure on business development activities.
Eligibility Criteria: Open to new businesses trading from 0 - 12 months. Must show a need for gap funding support. Open to all businesses with the exception of those operating in the retail sector, or any other sector where there is likely to be a high displacement of other local business.
Application Criteria: Completed application form plus up to date Business Plan, a Business Bank Account, UTR Number depending on status and a copy of Business Insurance Document. Three quotes for the requirements.
The grant provides 'gap funding' which is the minimum needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Tourism Grants

Grants from £1,000 to £5,000 depending on the type of project are available for tourist related businesses seeking to improve their services, upgrade facilities or increase marketing activity to attract more visitors. Grants will fund up to 50% of ex vat costs for projects.

Tourism Marketing Grants

Marketing advice is offered free of charge and funding of up to 50% of costs to a maximum of £1000 for marketing activities may be available to Tourism businesses based in Inverclyde that have been trading for at least six months. The marketing grant has been designed to help fund marketing activities essential to the continued success of local businesses.

Small Business Assistance Grant

Grant funding is available to small and medium-sized businesses in Inverclyde, for capital expenditure projects which will stimulate business growth. Grants of up to £5,000 are available, covering up to 50% of costs. Applicants must have a business plan and financial projections, a clearly defined market, have carried out a competitor analysis, and should demonstrate how the company intends to capture market share.
The SBA provides 'gap' funding - the minimum finance needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.
Grants will fund up to 50% of ex-VAT costs for projects. The retail sector (and others where there is likely to be high displacement of other local businesses) are not eligible for this grant.

Small Business Loan Scheme

This scheme provides gap funding through interest free loans repayable over three years, up to a maximum of £5,000, to encourage the creation and growth of small and medium-sized businesses.
The loans available form part of a gap funding package, and companies that apply must have a business plan with a clearly defined market, competitor analysis, a plan of how the company will capture market share, as well as financial projections. The retail sector (and others where there is likely to be high displacement of other local businesses) are not eligible for loan funding

Small Business Property Grant Scheme

The Small Business Property Grant Scheme offers support of between 20% and 50% of approved building costs to a maximum of £10,000 for general and security improvements to business properties. Proposals must be for premises which are in company ownership or on a long lease.
Where total project costs are in excess of £50,000, grants of up to £10,000 may be considered. Proposals must be for premises which are in company ownership or on a long (2 years minimum) lease.
The Small Business Property Grant Scheme provides 'gap' funding - the minimum finance needed to allow a project to proceed after a business establishes how much it can raise itself and from banks and other lenders.

Growth New Start Fund

The Fund can provide assistance of up to £500 towards start-up costs of new businesses that are able to demonstrate growth potential. The grant can support the costs of commercial rent, IT or website development, but cannot be used for wages or stock. All purchases must be made through a business bank account and supported by invoices from suppliers. The grant is paid after the purchases have been evidenced.

Growth Company Development Fund

Fund provides financial assistance to help businesses meet specific business growth objectives. It can support capital expenditure (including IT), property expansion/improvements, exhibiting at a national trade show or the costs of developing innovative products or processes. The fund can provide up to 50% of eligible costs, up to a maximum contribution of now up to £10,000. The purchase of furniture and consumables, and routine property maintenance are not eligible for support.

For more information contact their Business Development Team on: 01475 715555

 

Our team are currently working remote of the office but can be contacted via individual emails or ...

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  • 01475 711733
  • Inverclyde Community Hub            75-81 Cathcart Street          Greenock PA15 1DE

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