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Last update 05/08/2024

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

Adur District Council, which is now part of Adur and Worthing Councils, offers several funding options for startups and small businesses. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

Grants

Business Growth Grant Scheme

This grant scheme offers between £2,500 and £10,000 for projects that stimulate business growth, encourage innovation, or create new jobs in the Adur district. The grants are funded by the UK Shared Prosperity Fund and require match funding of at least 50% from the applicant.

Welcome Back Fund

While this scheme has closed, it's worth noting that Adur and Worthing Councils previously offered grants to support businesses reopening after the COVID-19 pandemic. Keep an eye on their website for any similar schemes in the future.

Additional Grants

The council may also offer other grant schemes on an ad-hoc basis. Check their website for updates.

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

This scheme has now closed, but it's worth noting that it provided financial support to businesses affected by the COVID-19 pandemic.

Other Resources

Adur & Worthing Business Partnership

This partnership supports businesses in the area and can offer advice on funding opportunities.

Coast to Capital Growth Hub

This hub provides a range of support services for businesses, including information on grants and funding options.
Website: Coast to Capital Growth Hub

Where to Find Information

Adur & Worthing Councils - Business Grants

You can find information about available grants on the council's website: Adur & Worthing Business Grants

Additional Tips

Research Thoroughly: Before applying for any funding, clearly define your business's needs and look for grants or loans that align with your requirements.
Contact Adur & Worthing Councils: Reach out to the council directly to inquire about the latest grant opportunities and eligibility criteria.
Consult Business Support Organizations: Organizations like the Adur & Worthing Business Partnership and the Coast to Capital Growth Hub can provide guidance and advice on funding options.

Contact Information

Adur & Worthing Councils

Economic Development Team
Phone: 01273 263000
Email: info@adur-worthing.gov.uk
Website: Adur & Worthing Councils

FAQs about Grants and Loans for Businesses in Adur

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

While Adur District Council does not offer specific grants for tech startups, broader programs like the Business Growth Grant Scheme 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 Business Growth Grant Scheme offers between £2,500 and £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 Business Growth Grant Scheme?

Projects that focus on business growth, innovation, and job creation typically qualify for the Business Growth Grant Scheme.

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 Adur.

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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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