New start-up grants for small businesses in Moray
ENTREPRENEURS seeking to launch small businesses in Moray are to benefit from a £75k start-up grant fund to stimulate economic recovery in the area.
Half of the funding is coming from underspend from Moray Council’s Business Gateway services, with £35k match funding secured for the scheme from Highlands and Islands Enterprise, meaning there’s no additional cost to the council to provide this support.
It’s hoped the fund will help new businesses with start-up costs and mitigate against issues relating to the furlough scheme ending in September. Through the start-up scheme, Business Gateway can continue to provide the best support which is responsive to the changing needs of the local business community.
New ventures could be supported with a start-up grant of £1,500, open to all sectors. The scheme will launch in September and run until March 2022, or earlier if the funds run out beforehand.
Eligibility criteria apply, and applicants will be asked to describe the benefits of the business to the local economy as well as providing a market analysis, and be prepared to submit a business plan and financial projections.
Chair of Moray Council’s Economic Growth, Housing and Environmental Sustainability committee, Cllr Graham Leadbitter, said targeted support is key to encouraging new business to start up in a recovering financial climate.
“Whilst the Covid pandemic has thrown up many challenges, it has also brought out some exceptional resilience and entrepreneurialism from many businesses.
“We have seen people whose work or business has been affected by Covid looking at new ideas, including new start-up businesses. It is important that we support that innovation and new business development and this grant scheme is an excellent way to do that.
“I would encourage people with new business ideas to consider applying and make the most of the support that is available through grant schemes and business advisory services, including our own Business Gateway team.”