Micro Enterprise Fund

Support provided by Perth & Kinross Council

What does this involve?

Do you own a small business in Perth and Kinross that you want to expand? Or do you want to start a small business in Perth and Kinross? If so, then this fund is for you.

Through the Micro Enterprise Fund, Perth and Kinross council offer funding of up to £1,000 to small businesses or individuals looking to expand their operations or start up in the Perth and Kinross area. Each eligible business or individual can receive a one-off grant of up to £1,000 to cover up to 90% of the eligible costs for viable projects.

The grant will not be awarded upfront immediately after approval – instead you will receive payment after you make your purchases and submit receipts or invoices. This means that you must be able to afford the project’s full cost initially until you are refunded.

Am I eligible?

Yes, if your business:

  • has 10 or fewer employees
  • is registered and based in Perth and Kinross

Sole traders, constituted community groups, social or community enterprises and co-operatives are all eligible.

If you meet these criteria, then make sure your project is suitable. Viable projects for this fund include:

  • purchase of capital equipment (excluding vehicles) for the purposes of expansion
  • acquisition or improvement of commercial property for the purposes of expansion
  • development of e-commerce platforms or digital transformation activities
  • specialist consultancy support
  • targeted marketing in relation to new markets
  • leverage for co-finance to secure additional investment through debt or asset finance, for example

The grant cannot be used for working capital, including the payment of rent, or for statutory fees such as planning permission or a building warrant.

What does this cost?

There is no charge for this service. However, as the fund will offer eligible businesses or individuals a one-off grant of up to £1,000 to cover up to 90% of eligible costs of viable projects, this means that you will have to pay at least 10% of the costs yourself.

Who is this for?

Small businesses in Perth and Kinross with 10 or fewer employees which aim to expand and grow their business, or individuals looking to set up a business in Perth and Kinross.

How long does this take?

After you submit your application, an officer will respond to you within 14 working days.

Once your application is accepted, you will have 6 months from the date of your funding offer to complete your project and submit the invoices.

A monitoring report must be submitted 12 months after the grant payment.

If your business ceases trading or moves outside the Perth and Kinross area within 3 years of receiving the grant, you may be required to fully repay the grant.

Important information

Make sure you have a minimum of 2 quotes available to upload when you begin your application. The council reserves the right to restrict funding to 90% of the lowest quote.

Read the full terms and conditions for the fund on the Perth and Kinross Council website before you apply.

Projects must not be started before approval is given.

Next steps

Visit the Perth and Kinross Council website for more information.

 

Support provided by Perth & Kinross Council

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