Business Grants

 

Stockton Council's Business Grant Scheme has been revised recently as a result of new business support schemes.  Financial assistance packages are available via the Council's Business Development Team to support and develop pre-start, start-up and young enterprises within the Borough of Stockton-on-Tees, and in particular those residents of the Communities Fund Areas (CF), wishing to consider self-employment as an alternative to unemployment.


SBC Start-up Grant

This grant is intended to promote and support new business entrepreneurship in the Borough. The grant is available to businesses that are in the process of starting up or in the first six weeks of trading.  The grant is subject to available funding and up to a maximum of £1,000. Applicants will be expected to have sourced support through the Neighbourhood Enterprise Gateways or a recognised Enterprise Agency.

SBC Capital Grant

This grant is available for businesses which have been trading less than 3 years.  This grant can be used to help buy capital items that are essential to grow the business.  Funding from the Council is available from £1,500; up to £5000 on a 50/50 basis i.e. a business must match any grant award.  The business must be creating at least one job (full time).

To Support Growing Enterprises - SBC Capital Plus

This grant has been established to encourage and support the growth of indigenous businesses, encourage job creation and promote new technology within businesses.  The grant is available to businesses that have been trading for more than three years.  Funding from the council is available up to £5000 on a 50/50 basis i.e. a business must match any grant award.  The business must be creating more than one job and agree to be involved in any PR we are planning.  They should also register their business on the Forum web site and where appropriate take part in the Green Business Network environmental initiatives.

How to apply:
Talk to a Business Development Officer at Stockton Council by contacting:

Telephone: 01642 528384
E-Mail: business.enquiries@stockton.gov.uk
Website: www.stockton.gov.uk/business/financialassistance

Please note take away food and retail businesses, which do not add distinctiveness or diversity to the Borough of Stockton-on-Tees, are excluded from the grant assistance packages.

In addition to this grant assistance package, there are two top-up grants available:
Encouraging Employment Top-Up Grant

This top-up grant enables businesses to access a further 10% of grant funding on top of the original grant award, if new employees are recruited from a Communities Fund (CF) area.

A business must have received grant support from one of Stockton Council's grant assistance packages before applying for a top-up grant.

Encouraging Apprenticeships Top-Up Grant

This top-up grant enables businesses to access a further 10% of grant funding on top of the original grant award, if apprentices are recruited from a Communities Fund (CF) area.

A business must have received grant support from one of Stockton Council's grant assistance packages before applying for a top-up grant.
(Please note: if a business is creating a job and recruiting an apprenticeship from a Communities Fund (CF) area, then it is possible to access both; i.e. gain an extra 20% of the grant funding.)

One North East's Regional Start-up Capital Finance Grant

The purpose of this fund is to help recently established small and medium sized businesses to be able to purchase necessary capital equipment, to aid their business growth and survival.  The grant is now available via Business Enterprise North East and the Investment Centre. The fund will run between now and the end of September 2010. www.businesslink.gov.uk/northeast or telephone 0845 600 9 006

Level of Grant

  • Support will be restricted to a minimum grant of £1,000 (matched with £1,000 of business cash contribution) and capped at £3,000 of grant (matched with £3,000 of business cash contribution) at a support rate of 50% of the eligible expenditure (the minimum value of any single item will be £250).
  • In the case of a business meeting the application criteria, with demonstrable significant growth potential and where the applicant requires a significant amount of / or costly items of equipment (way in excess of the scheme limits).
    These applications will be considered under exceptional circumstances by the NEEIC with joint input from One North East. A joint decision will then be made on the level of matched investment, subject to a £10,000 ultimate cap.  It is anticipated that such support will be by exception rather than the norm. 
  • The fund is provided with the assistance of the European Regional Development Fund 2007 - 13 and One North East's Single Programme.

    Other Sources of Financial Assistance include:

    Eligible growth businesses located in the Borough may qualify for a 'Grant for Business Investment' (GBI) from One North East.  These funds are designed to encourage investment in projects that lead to long-term improvements in productivity, skills and employment.
    For further information, application forms & levels of grant etc. Go to the One North East web site: - www.onenortheast.co.uk/page/gbi.cfm

    In addition, capital loan and equity finance is also available through organisations such as
  • UK Steel Enterprise - www.uksteelenterprise.co.uk or telephone (01642) 777888.
  • NEL - visit www.nel.co.uk or telephone 0845 111 1850
  • Entrust - visit www.entrust.org.uk
  • NStar Finance - telephone 0191 230 6370.

The Business Link website offers a wide range of business advice and information services including funding availability through a grant search.
www.businesslink.gov.uk/northeast or contact 0845 600 9 006


 

Business Grants

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