Inverclyde Boost Area Start-Up Grant

Support provided by Inverclyde Council

What does this involve?

Inverclyde Council offers a start-up grant £1,000 for businesses that are starting to trade in the area, with an applicant who resides in the Scottish Index of Multiple Deprivation (SIMD) postcode areas 1 or 2. SIMD is the Scottish Government's standard to identify areas of multiple deprivation in Scotland. 

The grant can be used for capital expenditure or as a contribution towards the start-up costs of the business, including working capital.

Applicants must submit:

  • a business plan
  • a one-year cashflow projection
  • evidence of trading status
  • 3 quotes for project costs
  • proof of business insurance
  • an uncensored copy of a bank statement, dated within the past 3 months, that clearly shows the name of the account holder, the account number and sort code

If the business is operating from commercial premises, you must also submit evidence that you or your business own the lease. 

You will need to meet with a business adviser from Business Gateway Inverclyde before you receive an application form.

Am I eligible?

You are eligible if:

  • your business has started trading from an address in Inverclyde in the last 6 months
  • you reside in SIMD postcode areas 1 or 2
  • you have attended a one-to-one meeting with a business adviser from Business Gateway Inverclyde
  • you do not operate in the areas of politics, religion, multi-level marketing or pyramid selling, or any business that may bring Inverclyde into disrepute

You will be expected to be working full-time for the business within 12 months of receiving this grant.

What does this cost?

This is a free service. Free business advice is also provided.

The grant will be paid retrospectively into your business bank account after you submit evidence of your total project expenditure. You must be able to cover the costs upfront before claiming back the grant amount.

Who is this for?

Businesses that are starting to trade in Inverclyde, or have started trading in the last 6 months, with an applicant who resides in the Scottish Index of Multiple Deprivation (SIMD) postcode areas 1 or 2.

How long does this take?

After you meet with your business adviser, your application must be approved and relevant information provided before you can submit a claim for payment. The timescale to approve applications will vary. Once you have submitted your claim for incurred expenses, payment will usually be made within 20 days.

Important information

You will need to provide proof of your identity by presenting one of the following documents:

  • passport
  • driving licence
  • birth certificate (if photographic ID is not available)

You will also need to provide proof of trading for your business's first 6 months by submitting any 2 of the following documents:

  • confirmation from your bank that you have opened a business bank account
  • confirmation of HMRC registration (UTR number)
  • a copy of your Companies House registration
  • confirmation of VAT registration

Next steps

Submit an enquiry and an adviser will be in touch to discuss your needs.

Support provided by Inverclyde Council

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