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Last update 02/08/2025

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Grants and Loans for Small Businesses in Richmondshire, UK (2025)

Introduction

Richmondshire is now administered by North Yorkshire Council. This guide outlines available grant schemes, government-backed loans, and local support services for startups, new enterprises, and small businesses in 2025. You'll find updated eligibility details, application steps, and official funding links.

Available Grants

🔹 North Yorkshire UKSPF / REPF Capital Grants for Small Businesses

Funding: £750 – £1,000 per business (max total cost £3,000, requiring 25% match funding) (Y&NY Growth Hub,)
Purpose: Boost productivity via investment in durable assets (e.g. machinery, equipment, marketing) (Y&NY Growth Hub)
Eligibility:
- Early trading businesses (6–24 months) in North Yorkshire (excluding the City of York)
- Under 50 staff and within the UKSPF area
- No DEFRA funding or outstanding council debt (Y&NY Growth Hub)
Apply via: [North Yorkshire Council UKSPF business grants page] (search via Business and Economy section) (North Yorkshire Council)

🔹 Apprentice Wage Subsidy (Richmondshire area)

Funding: Up to £1,000 wage subsidy plus £1,000 top-up if apprentice is 16–18, care leaver, or has a disability (purplecs.com)
Eligibility:
- Small businesses (<50 employees) based in Richmondshire
- The apprentice must live in Richmondshire
- Business trading for at least 3 months, apprentice aged 16–24 (North Yorkshire Council)

Government‑Backed Loans

🔹 Start Up Loans (British Business Bank)

Loan range: £500 – £25,000
Interest: Fixed 6%, includes 12 months of free mentoring
Eligibility: UK residents aged 18+, early-stage or pre-start business (<3 years trading)
Apply:
https://www.gov.uk/apply-start-up-loan

🔹 Northern Powerhouse Investment Fund (NPIF)

Purpose: Provides microfinance, debt, and equity investment for SMEs across the North of England, including Richmondshire
Eligibility & Access: Delivered via accredited local intermediaries—check NPIF site for details

Additional Local Support

🔹 North Yorkshire Council Business & Economy Services

Offers advisory support for business grants, funding, NHS growth hub access, apprenticeships and productivity schemes (startupgrant.co.uk)

🔹 York & North Yorkshire (Y&NY) Growth Hub

Provides guidance, downloadable toolkits, webinars, and business support programmes such as digital transformation, leadership coaching, and funding readiness (Y&NY Growth Hub)

Eligibility Guidance

Use the GOV.UK Business Finance Support service and North Yorkshire Council grant finder
Check match-funding requirements (commonly 25%) before applying
Attend North Yorkshire Business Week events (e.g. funding webinars held in June 2025) via Y&NY Growth Hub to stay informed (Y&NY Growth Hub, purplecs.com)

Application Process

Identify which scheme fits your business needs (capital grant, apprenticeship, loan).
Prepare required documents: business or project plan, quotes, financial projections, bank details, trading history.
Contact North Yorkshire Council or the Growth Hub for advice.
Submit the application through the official portal or by email during the open window.
Await decision—grants are often first-come, first-served.
If successful, use funding as agreed and submit evidence, such as invoices and apprenticeship contracts, per scheme rules.

Additional Tips

Apply early when funding windows open (e.g. small capital grants, summer 2025).
Keep clear records for financial audit and reporting purposes.
Engage your local Growth Hub or council advisor for pre-application review.
Take on apprentices using available subsidies to reduce wage costs and grow your team.

Contact & Further Resources

North Yorkshire Council – Business & Economy (Funding Details): Navigate via the Business and Economy section on [northyorks.gov.uk] (startupgrant.co.uk, North Yorkshire Council, North Yorkshire Council)
York & North Yorkshire Growth Hub: [ynygrowthhub.com] – access guides, events, and support tools (Y&NY Growth Hub)

FAQs – Business Grants & Loans in Richmondshire (2025)

🔹
Are there capital grants for early businesses in Richmondshire?
Yes—eligible micro businesses (trading 6–24 months) may apply for small capital grants (£750–£1,000) supported by UKSPF/REPF. (Y&NY Growth Hub)

🔹
Can I receive funds to support apprentices?
Yes—Richmondshire businesses can apply for wage subsidies up to £1,000 plus top-ups for eligible apprentices aged 16–18 or with additional needs. (North Yorkshire Council)

🔹
How much can I borrow via Start Up Loans?
You can apply for between £500 and £25,000, fixed at 6% interest, with mentoring support included. (startupgrant.co.uk)

🔹
Do I need to have been trading to apply?

Capital grants: businesses must have been trading between six and 24 months.
Apprenticeship grants: Businesses must have three months of trading.
Start Up Loans support pre-start businesses. (North Yorkshire Council, Y&NY Growth Hub)

🔹
Is a business plan required?
Yes—a clear plan with financial forecasts is essential for capital grant eligibility and usually expected for loan-scale apprenticeship applications. (Y&NY Growth Hub)

🔹
How long will the application process take?
Grant decisions are typically made within weeks when funding is available. Loan approval may take up to four weeks, depending on deliverer's timelines.

🔹
Can I use multiple funding sources together?
Yes—as long as each program’s eligibility rules allow stacking (e.g. capital grant + Start Up Loan may be possible).

🔹
Are there any fees to apply?
No fees for capital grants or Start Up Loans. Some NPIF or other successor lenders may charge interest or arrangement fees.

🔹
Is funding restricted to tech or high-growth sectors?
Not exclusively. Capital grants are open to diverse SMEs focused on productivity improvements, not only high-growth businesses.

🔹
Can I spend grant funds on marketing or equipment?
Yes—capital grants allow spending on equipment, digital tools, or marketing where it contributes to productivity gains.

🔹
Who can help with my application?
Contact North Yorkshire Council’s Business & Economy team, or reach out to the Y&NY Growth Hub for guidance and local support.

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