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Last update 05/08/2024

Grants and Government-Backed Loans for Startups, Small Businesses, and New Businesses in Basildon, UK

There are several grants and government-backed loans available for startups, small businesses, and new businesses in Basildon, UK. Here’s an overview of the options available:

Grants

Basildon Business Growth Grant

Funded by the UK Shared Prosperity Fund, this grant provides up to £2,000 as a cash payment to businesses to add long-term value to their organisations and the local economy.

UK Shared Prosperity Fund (UKSPF)

Basildon Council manages several grant schemes under the UKSPF, focusing on areas such as community projects, sports facilities, and support for the voluntary sector.

Low Carbon Across the South East (LoCASE)

This grant program offers grants of between £1,000 and £10,000 for small and medium-sized enterprises (SMEs) to help fund projects that will reduce carbon emissions.

Government-Backed Loans

Start-Up Loans Programme

This government-funded scheme provides advice, loans, and mentoring to start-up businesses in Basildon. Loans of up to £25,000 are available at a 6% fixed interest rate, along with free business support.
Website: Start Up Loans

Other Resources

Basildon for Business - Business Funding

This webpage on the Basildon Council website lists several funding options and business support programs available in the area.
Website: Basildon for Business - Business Funding

Backing Essex Business

Offers a range of loans and support to businesses in Essex, including Basildon.
Website: Backing Essex Business

Colbea

This organization offers business support services and resources, including information on grants and loans.
Website: Colbea

Additional Tips

Eligibility: Make sure you meet the eligibility criteria before applying for any grants or loans.
Contact Basildon Council or Relevant Organizations: Reach out to Basildon Council or organizations like Colbea for the most up-to-date information and guidance.
Network with Other Businesses: Connect with other local businesses and entrepreneurs in Basildon to learn about their experiences and get additional advice.

Contact Information

Basildon Council

Economic Development Team
Phone: 01268 533333
Email: businesssupport@basildon.gov.uk
Website: Basildon Council

FAQs about Grants and Loans for Businesses in Basildon

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

While Basildon Council does not offer specific grants for tech startups, broader programs like the Business Growth Grant and LoCASE can support various business types, including tech ventures that align with the fund's focus areas.

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

Funding amounts vary depending on the program. For example, the Basildon Business Growth Grant offers up to £2,000, while the Start-Up Loans Programme can provide up to £25,000.

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 Low Carbon Across the South East (LoCASE) grant?

Projects that focus on reducing carbon emissions and improving energy efficiency typically qualify for the LoCASE 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 advice, you can increase your chances of securing the financial support needed to start or grow your business in Basildon.

Value AD

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ALTERNATIVE

INVESTMENT

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

CAN BE

ALTERNATIVE INVESTMENT