The Small Business Grant Scheme has been established to encourage the formation of new enterprises and stimulate the growth of established small businesses. The grants are targeted at new business start-ups and businesses less than 36 months old with no more than 5 employees. Businesses must demonstrate a need for the grant and provide a Business Plan with a financial forecast outturn.
Applications are decided upon on a “first come first serve” basis and the scheme will close following the allocation of the total funding available. Decisions are reached on a bi-monthly basis;
How will the grant work?
Grants are paid retrospectively i.e. after purchase of eligible items and proof submitted and must be done so within 6 months of the dated offer letter. Payment of the grant to successful applicants will preferably be made in one sum on the receipt by the Council of evidence that the applicant has incurred the expenditure. However, staged payments will be considered. The bank account details provided must be in the business name and not personal. Where businesses do not have an account in their business name, either a business account or a separate personal account solely for business purposes should be set up prior to applying to the scheme.
Successful applicants must provide a 12-month progress update following receipt of the grant. The Council may carry out a monitoring visit. The Council reserves the right to reclaim the grant in the event of the business operation ceasing to operate within the district within 12 months from the date the grant was approved. The Council reserves the right to withdraw the grant where spend is not in line with the offer made and accompanying terms and conditions. The approval or refusal of a grant and the amount awarded is at the absolute discretion of Richmondshire District Council. There is no right to appeal
Applications with outstanding liabilities to Richmondshire District Council cannot be considered for a Small Business grant. An internal credit check will be completed as part of the process.
Failure to adhere to any of these conditions will result in non-payment of grant.
Applications can be made for assistance towards the following costs:
- The provision of necessary machinery and equipment (excluding vehicles and consumables)
- The extension, adaptation or improvement of facilities within premises (not for structural repairs or maintenance of existing building or installation of utilities)
- Marketing where it forms part of a promotional programme, which is likely to lead to additional jobs.
- Applications can be for no more than £1,000;
- The maximum percentage of the total projects costs which can be applied for is 75%;
- Applications can be made by new/start-up businesses and businesses less than 36 months old.
- New and/or Start-up businesses must have discussed their project idea with a Business Growth Manager prior to submitting an application. To book an appointment please contact: email@example.com ;
- Businesses that are already established aged up to 36 months must have discussed their project and had a business appraisal with a Business Growth Manager. To book an appointment please contact: firstname.lastname@example.org
- A minimum of 2 quotes must be provided for each item to be purchased.
- Eligible businesses should be solvent but have no more than £25,000 un-ringfenced business reserves at the time of making the application or at their last yearly accounts. This must be evidenced by providing two years’ worth of accounts where possible. This does not apply to new or start-up businesses who should provide a detailed breakdown of the current reserves in their business account and projected income/expenditure for a 6 or 12 month period. Templates can be provided for this.
- Grants are for businesses which are based within the Richmondshire District Council boundary.
Use this form to:
- Apply for Small business grant scheme
What happens next?
After the application deadline, applications will be reviewed by the Business and Community team. You should receive a decision outcome two weeks after the application deadline.
Once a decision on your application has been made, you will be notified by email whether it has been successful or denied.
What you'll need to provide?
- Contact details of the individual completing the application
- Name of business growth manager and the date of your most recent meeting with them
- Business details
- Minimum of 2 quotes for each item to be purchased
- Provide two years’ worth of accounts (where possible if not a new/start-up business)
- Provide a detailed breakdown of current reserves and projected income/expenditure for a 6 or 12 month period (where possible if a new/start-up business)
The information you provide on this application form will be used to facilitate your application for the Small business grant scheme. The information will only be disclosed to individuals who require it to complete your request. Please be aware that your information may be passed to the council's Counter Fraud Service and/or the Police if we suspect any fraudulent activity. For more information about how we use your personal data please see the Council's Privacy Notice on our website.