Leicester City Council
ARG Growth Fund: Business Start-up Programme
Leicester City Council (LCC) are collaborating with the Leicester and Leicestershire Enterprise Partnership (LLEP) to deliver a 6 month programme of business start-up support activity targeting businesses under 3 years old or those who are looking to start their business in the near future. This programme will provide eligible businesses access to qualified business advisors and will be free to use at point of access.
On top of this start-up support there will be a £75,000 grant fund made available. This new grant fund will be accessible to businesses that undertake the support and who are identified as having growth potential by the business advisors.
LCC have launched the new grant fund to help support the new businesses and business start-up across Leicester City Local Authority area. Grants will be made available to eligible businesses who have participated in the Start-Up Support programme and who have been invited to apply by the business advisor. The funding is designed to give new local businesses the best chance to succeed in their new venture.
Due to suspected oversubscription this grant will be invite only in the first instance, albeit the council reserves the right to welcome all applications should it choose to do so at a later date.
Who can apply?
Grant applications will only be considered from eligible businesses who have participated the Business Start-Up support programme.
Any individual, company or partnership that meets the schemes eligibility can apply to other Business Start-Up support programme.
When applying for a grant, if a company or partnership is making the application, the person completing the form must be authorised to apply on behalf of that business.
If the grant application is successful, the applicant will enter into a legal agreement which will set out specific and general terms and conditions relating to the Leicester Business Start-Up Grants. This agreement will be between the business and LCC.
How can I use the money?
Grants are intended to fund investment projects that can demonstrate business growth or diversification. Your investment should reflect any investment needs identified following your engagement with the business advisors and could include:
- New equipment
- New technology, IT or telecommunications
Grant applications will not be considered for:
- Salaries / wages
- Business rates
- Council fees
- General supplies for organisation
Please ensure along with the application form you submit a fully detailed and itemised quote(s) for all goods / services you are looking to purchase. These must be from:
• verified / established companies and whose main business is the supply of these goods or services.
We regret but we are unable to accept quotes from Ebay or similar websites; or third party organisations or intermediaries or organisations that have a conflict of interest with the business applying
How much money can I ask for?
The Council are offering one off grants of up to £2,500 for eligible businesses.
No match funding is required and there are no contracted job output requirements. However, any match funding provided and outputs such as new jobs or apprentices will be taken into consideration as part of the assessment process and recorded as outputs from the grant investment.
What will the application process involve?
Businesses looking to apply for the Leicester Business Start-Up Grant will need to have engaged and be working with the Business Gateway Growth Hub adviser, applications will need to be put forward by the advisers. Direct applications will not be considered.
All application must have in relation to the business start-up support programme and have been are identified as having growth potential by the business advisors.
The Business Advisers will have the application form completion if they deem your business meets the eligibility check. The adviser will work with you to complete the application form and submit the LCC Economic Development team for assessment.
Once you have submitted your application we will review it to make sure what you are proposing meets the agreed eligibility criteria.
The application will ask you to provide some details of your business and the nature of the investment project that you are proposing. You will also need to provide a breakdown of the costs involved in the project and what economic benefits your project will achieve.
We will ask you whether you have received financial support from any public sector organisation within the last three years. There are limits to the financial support that can be offered to individual private sector organisations and we need to make sure that you and the council stay within the law.
Submission of an application form to this fund does no guarantee funding will be awarded and this will be determined by the content of the application.
Whilst not a complete list consideration will be given to the following when assessing the outcome of an application:
- Whether the business is planning on matching any funding award
- 3 year growth projections to demonstrate sustainability over the long term.
- Level of funding received to date (if applicable)
- What the funding will be used for and explanation as to why it is needed
Area of Expertise:
Local Authority Services
This programme will provide small grant funding for eligible businesses by providing one off grant of up to £2,500 to eligible businesses who participate in the business start-up support programme and who are identified as having growth potential by the business advisors.
To be eligible to apply for a Leicester Business Start-Up Grant, you must:
• Have been invited by a recognised business advisor to be considered for a grant
• Have been trading no longer than 3 years (36 months)
• Be based in Leicester Local Authority area (i.e. registered for business rates or council tax to LCC)
• Be a small sized enterprise (i.e. less than 50 employees and a turnover under £10 million.)
• Be trading as a business whose company type is either: Limited Liability, Limited Liability Partnership, Partnership, Sole Trader, Franchise or Social Enterprise.
• Be in good standing with LCC. For example, fully paid up on any money owed to the council such as business rates.
Call the LLEP Growth Hub Business Advisers on 0116 366 8487 or complete an enquiry form here: www.bizgateway.org.uk/contact-us