Cash for small businesses up for grabs

Small businesses from across Richmondshire can now access a district council scheme that provides grants of up to £1,000 to support improvements.  

It is the third – and final – tranche of cash from the scheme, which started two years ago and has already helped 69 businesses.

Existing and start up businesses are eligible to apply – but they must meet the scheme’s eligibility criteria.  They must:

  • be located within the Richmondshire boundary
  • have no more than four full time employees or equivalent
  • be solvent and up to date with their District Council accounts – business rates
  • have no more than £25,000 in their business reserves
  • have a bank account solely for their business transactions

The can bid for up to 75 per cent of the costs up to the maximum grant of £1,000 to support improvement work which will see an increase in their revenue or create employment opportunities.  It can support a number of improvements including:

  • purchase of new website
  • new IT equipment
  • training courses
  • marketing and promotional costs
  • start up equipment for apprentices/new employees – desks/chairs
  • business specific costs – for example a car lift for a mechanical business

The grant scheme will not support the day to day running costs of any business – including rent, utilities, travel costs, salaries or insurance – and grants cannot be applied against purchases already made or committed, for example a business which has commissioned a website designer who has already started work on the site.  

Businesses which have previously been supported with a grant are not able to re-apply to this final tranche of the scheme.

Applicants must also consult with their local district councillor for the ward in which their business is based prior to submitting an application for consideration. Written support should be included with the proposal form.

Initially the grant will be split into the five area partnership areas of Central Richmondshire, Catterick Garrison, Lower Wensleydale, North Richmondshire and the Upper Dales with businesses in each area eligible to bid for a slice of £6,000.

This will be reviewed in January 2016, where any funds not allocated will be placed into one district-wide funding pot for the remainder of the scheme. However, the scheme will close once the funds are exhausted.

 

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