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Last update 05/08/2024

Grants and Loans for Startups and Small Businesses in Amber Valley, UK

Amber Valley Borough Council offers a number of grant and loan options for startups and small businesses, as well as access to government-backed funding schemes. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

Grants

UK Shared Prosperity Fund (UKSPF) Shop Front Improvement Grant

This grant provides up to £4,000 (with 40% match funding required from the business) for improvements to shop fronts in Amber Valley.
Website: Shop Front Improvement Grant

Green Entrepreneurs Demonstrator Fund

This fund, through the University of Derby, offers grants of £100,000 or more for low-carbon or alternative energy projects located in Derbyshire (excluding Derby City).
Website: Green Entrepreneurs Demonstrator Fund

Vision Derbyshire Business Start-up and Business Support Grant Scheme

This scheme offers free business advice and grants of up to £10,000 for eligible businesses in Derbyshire, including Amber Valley. The grant covers 50% of total project costs and is available to those starting or have recently started a business in the last 12 months.
Website: Vision Derbyshire Business Start-up and Business Support Grant Scheme

Government-Backed Loans

Start Up Loans

This national scheme offers personal loans of up to £25,000 with a fixed interest rate of 6% for pre-start and early-stage businesses. You also receive free mentoring and support.
Website: Start Up Loans

Recovery Loan Scheme (RLS)

This scheme has been extended to 2024 and offers loans to businesses affected by the pandemic. The loans can be used for various purposes, including managing cash flow and supporting growth.
Website: Recovery Loan Scheme

Other Resources

Amber Valley Borough Council - Grants and Funding

For more information on available grants and other funding options, visit the council's website.
Website: Amber Valley Grants and Funding

D2N2 Growth Hub

This growth hub provides a range of support services for businesses in the D2N2 area, including information on grants and funding opportunities.
Website: D2N2 Growth Hub

Additional Tips

Eligibility: Make sure you meet the eligibility criteria before applying for any grants or loans.
Contact the Council: Reach out to Amber Valley Borough Council or the D2N2 Growth Hub for the most up-to-date information and guidance.

Contact Information

Amber Valley Borough Council

Economic Development Team
Phone: 01773 841490
Email: business@ambervalley.gov.uk
Website: Amber Valley Borough Council

FAQs about Grants and Loans for Businesses in Amber Valley

1. Are there specific grants for tech startups in Amber Valley?

While Amber Valley Borough Council does not offer specific grants for tech startups, broader programs like the Vision Derbyshire Business Start-up and Business Support Grant Scheme and the UK Shared Prosperity Fund (UKSPF) Shop Front Improvement Grant can support various business types, including tech ventures.

2. How much funding can I get through these programs?

Funding amounts vary depending on the program. For example, the Shop Front Improvement Grant offers up to £4,000, while the Vision Derbyshire Business Start-up and Business Support Grant Scheme provides up to £10,000.

3. What if my business is in an early ideation phase?

Start Up Loans cater to pre-start and early-stage businesses. These loans provide not only financial support but also mentoring to help develop your business idea.

4. How long does the application process take?

The application timeline varies for each program. Contact the respective organizations for specific timelines.

5. Can I apply for multiple grants or loans?

In some cases, you might be able to combine funding from different sources. It’s advisable to consult with the program providers for guidance on combining multiple funding streams.

6. What types of projects qualify for the UKSPF Shop Front Improvement Grant?

Projects that focus on improving shop fronts, including repairs, renovations, and energy efficiency improvements, typically qualify for the UKSPF Shop Front Improvement Grant.

7. What are the fees associated with applying for these loans?

Most government-backed loan programs, such as Start Up Loans, do not have application fees. However, it's important to check for any potential costs or fees associated with other funding programs.

8. Can funding be used for operational expenses like salaries and rent?

Generally, funding can be used for various business expenses, including operational costs. However, each program has its specific allowable expenses, so it’s essential to verify with the program guidelines.

9. Where can I get help with my application?

Business support organizations and the council’s economic development team can offer guidance and assistance with your application, helping you navigate the process effectively.

By exploring these resources and seeking professional guidance, you can increase your chances of securing financial support for your startup or small business in Amber Valley.

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What is Value Ad?

Value Ad is an innovative policy designed to foster a mutually beneficial relationship between two key groups: new businesses and service providers. This policy helps startups save significantly on essential services while enabling service providers to gain valuable traction and growth opportunities.

How is it a Win-Win Deal?

For New Businesses:

Cost Savings: Startups can save 50% to 80% on essential services such as website development and marketing. This means they don’t need to invest heavily upfront, making it easier to launch and grow their business.

Alternative Investment: The money saved through these discounts can be reinvested into other critical areas of the business, acting as an alternative investment that fuels further growth and development.

For Service Providers:

Initial Customer Base: Service providers, often tech startups themselves, can attract a significant number of initial customers by offering their services at a discounted rate. This helps them build traction and demonstrate value, which is crucial for attracting venture capital (VC) funding and other opportunities.

Marketing Efficiency: By providing affordable services, service providers do not need to spend heavily on marketing to acquire new customers. The discounted services themselves become a powerful marketing tool, bringing in customers who can spread the word and enhance the provider’s reputation.

Growth and Expansion: Attracting more customers through Value Ad helps service providers expand their client base and build long-term relationships, which can lead to increased revenue and business growth.

Alternative Investment for New Businesses:

For new businesses, the significant cost savings achieved through the Value Ad policy effectively serve as an alternative investment. Instead of spending large amounts on website development and marketing, they can leverage the affordable services provided by service providers. The saved funds can be redirected into other strategic areas of the business, enhancing overall growth and sustainability.

Benefits for Service Providers:

Service providers benefit from the Value Ad policy by gaining access to a ready pool of new customers who are drawn by the discounted rates. This initial customer base is crucial for:

Building Traction: Demonstrating product or service viability to potential investors.

Securing Funding: Enhanced customer traction and a growing user base can make the service provider more attractive to venture capitalists and other funding sources.

Market Penetration: Establishing a presence in the market quickly and efficiently without heavy marketing expenditures.

In Summary:

Value Ad is a strategic policy designed to create a win-win scenario for both new businesses and service providers. By offering significant discounts on essential services, startups can save and reinvest those savings, while service providers gain crucial initial customers and market traction. This mutually beneficial arrangement supports the growth and success of both groups, making Value Ad a powerful tool for business development and investment.

Value AD

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ALTERNATIVE INVESTMENT