Grants of up to £2,500 are available to support people in Lanarkshire to start their own business.
The Start-Up Grant Fund is open for applications from people with a robust, viable business idea who need funding to start trading.
It is being run by South and North Lanarkshire Councils, with investment of £700,000, in partnership with Business Gateway Lanarkshire.
Grants of between £1,000 and £2,500 will be available for essential business purchases such as IT equipment, infrastructure costs, website design and stock costs.
The higher grant amounts will be provided for businesses who will rent commercial premises and employ staff.
South Lanarkshire Council’s Head of Planning and Economic Development, Pauline Elliott, added, “While we have a strong track record of creating new business start-ups in Lanarkshire, improving our performance and supporting our entrepreneurs with new business ventures is key to achieving our community wealth building objectives and sustainable economic growth.
“This new form of business funding will help us to accomplish these goals.”
Yvonne Weir, Enterprise Manager at North Lanarkshire Council, said: “We regularly hear from local people who have a positive business idea, but struggle to find that initial funding to get up and running.
“So this new Start-Up Grant Fund offer a helping hand to people who have a strong, viable business idea but don’t have the money to take it forward. With advice and expertise from Business Gateway Lanarkshire, we believe this initiative will encourage more business start-ups across Lanarkshire, helping to grow the local economy.”
Applicants can re-apply for a second payment in six months to help with the ongoing working capital requirements of running a business; this is subject to the business being able to demonstrate three months of trading and ongoing viability.
As part of the application process, businesses must supply a business plan and 12-month cashflow statement. Anyone interested in applying for a grant should contact Business Gateway Lanarkshire.
For more information and how to apply go to the council website.