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Small Business Grant Scheme to give start-ups a helping hand

New grants of between £500 and £1500 are now available to help promote new small

business start-ups, self-employment and entrepreneurship in Tamworth.

Any funding currently available to businesses tends to come with a requirement to ‘match’ the amount being granted and has strict requirements on the type of business applying and the activity they deliver. These requirements leave a large number of small new businesses unable to access start up finance.  This financial support will address the current funding gap faced by start-up businesses and will be available for completely new ventures and those which have been trading for less than three years.

Over the years, Tamworth Borough Council’s Economic Development and Regeneration (EDR) team has had a number of enquiries from individuals requiring small amounts of money to buy equipment, help with marketing or buy relevant insurances in order to allow them to trade.

To receive these grants, individuals will be required to meet some basic criteria. This includes attending the Enterprise for Success programme, which provides 12 hours of one-to-one advice and support. This will be delivered from the soon-to-be opened Tamworth Enterprise Centre at Phillip Dix House – formerly known as the Phil Dix Centre – in Corporation Street.

The Enterprise for Success programme ensures individuals and businesses have the right skills they need to run their business and results in the creation of a business plan.

Cllr Steve Claymore, Cabinet member for Regeneration, said; “This is great news for individuals wishing to start up in new businesses or who have been trading for less than three years. There has been limited funding previously, so this financial and practical support will be invaluable for the small businesses of Tamworth.

 “Small businesses are the foundation of any thriving economy and using the new Tamworth Enterprise Centre as a ‘hub’ of support and advice can only help grow the local economy.”

Grant applications will be recommended to the Cabinet Grants Committee on a quarterly basis for approval. An annual budget of £20,000 has been allocated to the scheme, which is subject to annual budget reviews and agreements up to March 31st 2020.

To register your interest and check if you are eligible for a grant please contact:

Lorraine Farley (Business Liaison Officer) 01827 709525 or email: lorraine-farley@tamworth.gov.uk

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