Funding to help start your business

If you are looking to start up a business then there may be funding available to support you in those vital first months and years.

Eligibility for funding varies depending on the nature of the business you are starting, and what you require funding for.

If you are interested in funding, please complete our business funding enquiry form.

The main schemes available for new start ups in East Staffordshire currently are:

Staffordshire Leader - Communities Mean Business

The Staffordshire LEADER Programme Round 4 Call is now open for business. The Round 4 Call for Bids closes on 20th August 2017 at midnight.

Aim of the fund: The LEADER rogramme compliments a number of UK government and EU funding programmes to specifically address the challenges rural businesses face in becoming established and enabling them to grow.

Capital or revenue: Both

More information: The Staffordshire Leader programme is a wide programme of support, with 6 priorities:

Priority 1- Support to increase farm productivity

Priority 2 - Support for micro and small businesses (non-agricultural) and farm diversification

Priority 3 - Support for rural tourism

Priority 4 - Provision of rural services

Priority 5 - Support for cultural and heritage activity

Priority 6 - Support for increasing forestry productivity

There are two stages for applications: an expression of interest and if successful, this is followed by a full application.  The first stage is to discuss your project with the LEADER team to assess if it is eligible. Email cmb.leader@staffordshire.gov.uk or telephone them on 01785 277902.  More information on the 6 priorites and eligible projects can be found on the LEADER website: http://staffsleader.org.uk/

Business Start up Loan

Aim of the fund: To assist pre start and existing businesses up to 2 years old with a loan which is repayable up to 5 years with an interest rate of 6% and mentoring is available to assist with the application process and for 12 months after loan draw down.

Capital or revenue: Both

Amount: £500 - £25,000

More Information: Further information can be found by visiting  www.virginstartup.org/BES

Princes Trust

Aim of Fund: Committed to supporting young people (ages 18-30ys) into business, together we offer low-interest finance at a rate of around 6% APR to help get started.

Capital or revenue: Both

More Information: Further information can be found by visiting.https://www.princes-trust.org.uk/help-for-young-people/support-starting-business

GBSLEP - Growth Hub - Funding and Finance Portal 

The Growth Hub comprises of a web based portal which aims to engage with all types of businesses with the ambition, appetite and potential to innovate and grow. The Growth Hub - Funding and Finance Portal offers a quick way to understand what finance is available to help grow your business? The Funding and Finance portal has been is designed to simplify the process for small and medium enterprises (SMEs) to raise finance by providing local businesses with the information that they need to assist them with access to finance, by clearly segmenting potential funders into areas of specialism and expertise.

Search for funding by visiting https://www.gbslepgrowthhub.co.uk/funding-finance

Better Business Finance (BFF) 

Better Business Finance provides impartial information and support to businesses and entrepreneurs looking to develop and grow; whether the business is seeking finance, or starting out or exporting abroad, BBF is here to help. It was set up by Barclays, HSBC, RBS, Lloyds and Santander.in 2011 and is managed by the British Bankers’ Association (BBA) in collaboration with its business and finance partners. BBF was created to bring to life the recommendations of the Business Finance Taskforce, which was set up by the major banks to work together to help support the UK’s small and medium-sized businesses who are vital to our economy.

Search for funding by visiting http://www.betterbusinessfinance.co.uk/