Business & licensing

Start-up funding

There are different funding options to consider for your business, depending on your circumstances.

On this page there are some suggestions to help you find out more about what support you can access and what might be right for you or you may want to consider crowdfunding or angel investment.

Government-backed Start-Up loans

Government-backed Start-Up Loans of £500 to £25,000 are available to start or grow your business. Unlike a business loan, this is an unsecured personal loan.

Free support and guidance is available to help write your business plan, and successful applicants can get up to 12 months of free mentoring.

Find out more on the Start-Up Loans website.

First Enterprise Business Agency

First Enterprise Business Agency provide support to help people from disadvantaged backgrounds and ethnic minority communities. This service is not exclusive and everyone is welcome.

They can provide loans of between £3,000 and £250,000 but they also offer business support services helping with procurement, office space, virtual services and ‘hot desking’.

Find out more on the First Enterprise Business Agency website.

The British Business Bank

The British Business Bank is a Government-owned business development bank dedicated to making finance markets work better for smaller businesses. They will support early start-up companies that are less than 2-years old, or who are looking to scale up, or just need to stay ahead.

They often work through local partner companies such as the East Midlands Chamber of Commerce and Nottingham Business Ventures.

Find out more on the The British Business Bank website or contact Lewis Stringer, Senior Relationship Manager at British Bank

email: lewis.stringer@british-business-bank.co.uk

Nottingham Business Ventures (NBV)

NBV is a business support provider and they have some grants that can provide between up to 25% of project costs to a maximum of £2,500, however you must be registered with Companies House and be trading B2B.

This grant can be used to purchase services or equipment as part of business growth needs but there are certain restrictions so please check the criteria’s carefully.

The minimum project spend is £4,000 and you will receive a £1,000 grant, so to get £2,500 you need to spend £10,000.

For more information contact Gina by:

email: grants@nbv.co.uk

Prince's Trust

The Prince’s Trust works with 18- to 30-year-olds living in the UK, including support for Start-Ups.

Ashfield District Council Business Start-Up Grant

Ashfield District Council manage a business Start-Up grant scheme that can cover up to 50% of project costs to a maximum of £1,000.

Eligible project costs that this can be used for include:

the purchase of machinery and equipment
business stationery
and marketing costs such as advertising and web design.

This scheme is currently on hold but for more information contact us by:

email: business.support@ashfield.gov.uk.

Vacant Shops grant Scheme

This grant will cover up to 50% of your project costs to a maximum of £2,500. Open to independent retailers taking occupation of a vacant retail property which they will be paying a rental cost for.

You can use this grant to improve premises, fixtures and fittings, towards rental payments, insurance premiums, advertising and marketing costs. Properties must have a ground floor and a street facing frontage to be accepted.

This grant is currently closed, and is awaiting further funding to be made available.

email: localplan@ashfield.gov.uk

Food and Drink Forum

Can offer a range of free support services to help food and drink manufacturers of all sizes.

Grants of up to 25% of project costs for capital projects only, minimum projects £4,000 to a maximum £200,000. They also provide 12-hours free technical advice and access to events.

Find out more on the The Food and Drink Forum website or contact Trudi Davison.