It’s a scary prospect going it alone.
Setting up your new business in Staffordshire will most likely require purchasing a certain amount of capital items before you can get started.
Maybe you’re in need of a van, computer, equipment, tools or machinery before you can even think of marketing your new Staffordshire business. And then how can you afford to advertise to get customers after all that outlay?
We know the struggle well.
That’s why here at Business Enterprise Support, we have access to a fantastic solution… the Staffordshire New Business Capital Grant1 for start-ups just like yours.
We are able to provide grants for start-up businesses in Staffordshire to claim back up to £5,000 on capital item expenses thanks to the European Regional Development Fund. Pretty impressive we’d say.
So how can you claim your grant for starting up a new business in Staffordshire?
Staffordshire New Business Grant; What You Need to Know
• Why is it available?
Funding has been provided by the European Regional Development Fund (ERDF) with the aim of strengthening the economic growth of various areas within Europe. Staffordshire is an area that ERDF funding supports by helping new businesses to start-up and survive throughout the first 12 months of trading. In short, the success of your new business doesn’t just help you, it helps Staffordshire and the wider economy. BES is the delivery partner that supports businesses to access this grant, as well as provide free coaching and advice throughout the whole process.
• How does the Staffordshire New Business Grant work?
Before you start and run your new Staffordshire business, you will most likely be purchasing capital assets. These are items or property that are essential to your business over a long period of time.
Capital assets can range from such things as computers to commercial vehicles, distillery equipment, fitness weights, cooking utensils… pretty much any item that is required for your exciting new business initiative.
The Staffordshire new business grant provides you with a third of what you will spend on new business start-up items.
For example, perhaps you are in need of a new computer that is capable of managing large amounts of images, data and design work as well as technical software for your new business idea. Altogether your costs for purchasing this capital equipment for your business is around £4,200. However, through the Staffordshire New Business Capital Grant, you will receive a third back (£1,386), which means the overall cost for capital items has been reduced to a more manageable £2,814.
As the payment is a grant, not a funding loan, you don’t have to worry about any pesky repayments either.
The maximum you can receive is £5,000 which can be claimed if you are spending around £15,000 on capital items for your new Staffordshire business.
But keep in mind that the minimum amount you can receive is £500, meaning you will need to apply for £1,500 worth of capital asset expenditure.
In addition to your new business grant money, you will also receive free coaching and support.
• Is my Staffordshire business eligible for this start-up grant?
The clue is in the heading. Your business needs to be based in Staffordshire in order to claim for the Staffordshire New Business Capital Grant.
The grant money is also only available if your business has not started trading. That is, before your business actively starts selling its services.
However, if you have started trading you can still access the free support, advice and coaching if your business is less than 12 months old (and still based in Staffordshire).
• What’s Involved in the Staffordshire New Business Free Coaching?
Organising and obtaining the right amount of capital for your new business start-up in Staffordshire requires answers to many questions, completing forms and making some careful executive decisions; which if we’re completely honest, is scary stuff.
But now with Staffordshire New Business Free Coaching, you don’t have to handle it alone.
You’ll have access to an experienced and knowledgeable business coach who will provide you with unlimited support in getting your business started, as well as 12 months of mentoring after your business begins trading – all for free.
• I’m definitely interested in this new start-up grant for my Staffordshire business – where do I start?
It’s really easy to get started.
The first step is to apply by completing a quick form here.
Then one of our enterprise coaches will contact you and provide support in helping you to complete a simple business plan if you don’t already have one.
The business plan is then submitted as your application for the Staffordshire New Business Grant.
Once approved, you can go ahead and make your capital item purchases. You will then receive your reimbursement from the new business start-up grant and continue with valuable coaching and support to keep your business thriving.
Take the Next Step with Your Staffordshire Start-Up Grant
Making that first step into being your own boss and starting your new business in Staffordshire may be daunting, but by accessing the right support and new business grants that are available, you can make your new Staffordshire start-up a success.
If you’re eligible for the Staffordshire New Business Capital Grant, don’t miss out on this fantastic opportunity. Apply today.
But don’t forget, even if you’re not eligible there are other support options for your business on our website.
So why put off starting your business idea any longer – join many other entrepreneurs who are shaping their own success, and the success of the Staffordshire economy.
The post How to Claim Your New Business Start-Up Grant in Staffordshire appeared first on Business Enterprise Support | (0)1283 537 151.