Business grants

Stockton Council's Business Grant Scheme has been revised recently as a result of new business support schemes.

Financial assistance is available via the Council's Business Development Team to support and develop start-up enterprises within the Borough of Stockton-on-Tees, and in particular those residents of the Communities Fund Areas (CF). Priority is given to unemployed people wishing to consider self-employment as an alternative to unemployment.

Stockton Council 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 early stages 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.

Contact a Business Development Officer at Stockton Council to apply for this fund before Friday, 30 March 2012.

Other Stockton Council business grants

Please be advised that 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).

Other Sources of financial assistance include:

Home Working Fund

The Home Working Fund is a new initiative aimed at enabling companies to create new jobs for home workers in the North East.

The £1.1m Fund is designed to contribute to the costs of establishing home workers.

It is open to any appropriate businesses and will provide direct financial support, up to a maximum of £3,000 per Full Time Equivalent (FTE) home worker. This comprises of up to £2,000 for skills development and up to £1,000 towards capital equipment.

The Fund is open until September 2011 - download the supporting information and application form.

Other agencies that may offer business finance support

UK Steel Enterprise - www.uksteelenterprise.co.uk or telephone (01642) 777888

NEL - telephone 0845 111 1850
Entrust - visit www.entrust.org.uk
NStar Finance - telephone 0191 230 6370
North East Access to Finance Ltd - www.nea2f.co.uk

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