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Last update 05/08/2024

Grants and Government-Backed Loans for Startups, Small Businesses, and New Businesses in Arun Council, United Kingdom

Arun District Council offers a few grant options and provides information on government-backed loans for startups and small businesses in the area. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

Grants

Arun Business Growth and Start-Up Grants

These grants are designed for businesses based in Arun and can be used for various purposes like purchasing equipment, making premise improvements, or investing in IT systems. There are two types of grants available:
- Start-Up Grants: Up to £1,000 for businesses that have been trading since January 2021 or are ready to start. No match funding is required.
- Business Growth Grants: Up to £1,500 for more established businesses. Requires 50% match funding.
Website: Arun Business Growth and Start-Up Grants

LEAP Grant (Local Enterprise Acceleration Programme)

This grant offers up to £2,000 to fund 50% of project costs. Applicants must provide the remaining 50%. It is open to small and medium-sized enterprises (SMEs) in the district.
Website: LEAP Grant

Government-Backed Loans

Start Up Loans

Provides unsecured 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

Let’s Do Business Finance

This program offers loans from £500 to £150,000 to businesses in Arun, including start-ups and established companies looking to grow.
Website: Let’s Do Business Finance

Where to Find Information

Arun District Council - Business Grants and Funding

For detailed information about available grants and funding options.
Website: Arun Business Growth and Start-Up Grants
Website: LEAP Grant

Additional Tips

Eligibility: Carefully review the eligibility criteria for each grant and loan program before applying.
Contact Arun District Council: Reach out to the council directly for the most up-to-date information and guidance.
Consult Business Support Organizations: Organizations like the Coast to Capital Growth Hub can provide guidance and advice on funding options.

Contact Information

Arun District Council

Economic Development Team
Phone: 01903 737500
Email: economic.development@arun.gov.uk
Website: Arun District Council

FAQs about Grants and Loans for Businesses in Arun

1. Are there specific grants for tech startups in Arun?

While Arun District Council does not offer specific grants for tech startups, broader programs like the Arun Business Growth and Start-Up Grants and the LEAP 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 Start-Up Grants offer up to £1,000, while the LEAP Grant provides up to £2,000.

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 Arun Business Growth and Start-Up Grants?

Projects that focus on purchasing equipment, making premise improvements, or investing in IT systems typically qualify for the Arun Business Growth and Start-Up Grants.

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 advice, you can increase your chances of securing the financial support needed to start or grow your business in Arun.

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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