Inverclyde Council New Business Start-Up Grant
First Published : 16 Nov 2022
Last Updated: 14 Dec 2022
Contents
Support provided by
Inverclyde Council
What does this involve?
Inverclyde Council offers a start-up grant to businesses that are starting to trade in the area. The grant can be used to cover up to 50% of eligible costs, to a maximum of £500, for capital expenditure on business development activities.
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 unredacted 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.
You cannot apply for funding for projects that have already started.
Am I eligible?
You are eligible if:
- your business has started trading from an address in Inverclyde in the last 6 months
- your business operates in a sector where there is unlikely to be a significant impact on other local businesses
- you have attended a one-to-one meeting with a business adviser from Business Gateway Inverclyde
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 fund can cover up to 50% of eligible capital expenditure costs, with a maximum contribution of £500. You must be prepared to cover the rest of the costs from other sources.
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 there in the last 6 months.
How long does this take?
After you meet with your start-up 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've submitted your claim for incurred expenses, payment will usually be made within 20 days.
Important information
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.
You cannot apply for funding for projects that have already started.
Next steps
Submit an enquiry and an adviser will be in touch to discuss your needs.
Support provided by
Inverclyde Council