The grants are targeted at new business start-ups and businesses less than 36 months old with no more than five 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.
Grants are paid retrospectively, that is after the purchase of eligible items and proof submitted. This must be done within six 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:
Applications with outstanding liabilities to North Yorkshire Council cannot be considered for a Small Business Grant. An internal credit check will be completed as part of the process.
Applications can be made for assistance towards the following costs: