Start-up Grants to Help You Get Your Space at CIC

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If you are looking for funding for your business or start-up then why not check out our list of potential places you can find grants.

Princes Trust Grants

The Prince’s trust grants have been dedicated to rendering financial assistance to young entrepreneurssince 1976. It offers an exclusive Enterprise Program that provides grants and mentors to young individuals to help them start their own business. To apply for the grant, you are required to fill the online application form.

Funding: The individual must be 18-30 years old to apply for the Prince’s Trust Grants.  For individuals, the grant offered is £1,500 whereas a business group may avail a grant of up to £3,000. A test marketing grant of up to £250 is also provided to individuals, to help them evaluate the market value of their product.

New Enterprise Allowance

The New Enterprise Allowance is a grants fund dedicated to supporting unemployed persons with becoming self-employed and running their own business. The scheme provides a grant in the form of a weekly allowance over a 26 week period; you are likely eligible if your or your partner are receiving any benefits (JSA, UC or SA).

Aside from a monetary grant, you will also receive a mentor to provide guidance and support through planning, setting up and running your new business. If you have been out of work for a while, this scheme is perfect for helping you in setting up a new business. You can find out more about the scheme by going to your local Jobcentre Plus and speaking to a work coach.

Funding: A weekly allowance worth up to £1,274 over a 26 week period.

Start-up loans

government programme is available for businesses who have, or plan to start a UK-based business: 

  • The business which has not been fully trading for more than 24 months
  • £500 – £25,000 is available over a maximum 5 year repayment period

Enhance Social Enterprise Fund

Enhance is funded by the European Regional Development Fund (ERDF) in order to increase the number of social enterprise start-ups and to support the growth of existing ones.

The Enhance Social Enterprise (Enhance SE) programme supports social enterprises and social entrepreneurs in Plymouth, Torbay, Devon, and Somerset.

Through Enhance SE, social enterprises and social entrepreneurs are supported to develop and launch new products and services, as well as entering new markets.

Workshops and mentoring support are available for social enterprises looking to explore all aspects of their business including digital, leadership development, and managing growth.

Social enterprises and social entrepreneurs can receive up to 12 hours of FREE tailored business support from a range of partners, as well as access to a range of workshops and networking opportunities until December 2019.

You can find more information on the Enhance Social Enterprise website.

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