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    Last update 05/08/2024

    Grants and Loans for Startups and Small Businesses in Cambridge, UK

    Cambridge, UK, has several council areas, each with its own funding opportunities. Here's a breakdown of grants and government-backed loans available for startups and small businesses in the region.

    Cambridge City Council

    Community Group Grants and Funding

    Individual Grants and Funding

    South Cambridgeshire District Council

    BIPC Jumpstart

    • This program offers grants and support to start-up businesses. It is funded by the UK government through the UK Shared Prosperity Fund and delivered by the Business & IP Centre Cambridgeshire and Peterborough.
    • Website: BIPC Jumpstart

    Start-Up Loans

    • These government-backed personal loans are for business purposes and are available to individuals over 18 who are eligible to start a business in the UK.
    • Website: Start-Up Loans

    East of England Regional Growth Loan Scheme

    East Cambridgeshire District Council

    Business Grants

    • Growing and innovative businesses can apply for grants of up to £30,000 to create or safeguard jobs, bring new products to market, or invest in technologies and processes.
    • Website: East Cambridgeshire Business Grants

    Additional Resources

    Cambridgeshire & Peterborough Combined Authority Growth Hub

    Additional Links

    Important Tips

    • Research Thoroughly: Before applying, carefully review the eligibility criteria and requirements for each grant or loan.
    • Contact Local Authorities: Reach out to the relevant council or authority for the most up-to-date information and guidance.
    • Consult Business Support Organizations: Organizations like the Cambridgeshire & Peterborough Growth Hub can provide guidance and advice on funding options.

    Contact Information

    Cambridge City Council

    South Cambridgeshire District Council

    East Cambridgeshire District Council

    FAQs about Grants and Loans for Businesses in Cambridge

    1. Are there grants specifically for online businesses in Cambridge?

    While specific grants for online businesses may be limited, broader programs from the various councils and support organizations can support various business types, including online ventures.

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

    Funding amounts vary depending on the program. For example, Start-Up Loans offer up to £25,000, while the East Cambridgeshire Business Grants offer up to £30,000.

    3. Am I eligible if my business is not yet registered?

    Some programs may require your business to be registered, while others might support pre-start businesses. Check the specific program requirements for details.

    4. What kind of business plan do I need?

    A detailed business plan outlining your business model, target market, financial projections, and growth strategy is usually required for application.

    5. How long does the application process take?

    The application timeline varies for each program. Contact the organizations directly for estimated processing times.

    6. Can I apply for multiple grants or loans?

    In some cases, you might be able to combine funding from different sources. Consult with the program providers for guidance on this.

    7. Are there any fees associated with applying?

    Most grant programs do not have application fees, but loan schemes might have arrangement or interest fees. Check the specific details for each program.

    8. What if my business is not in a "high-growth" sector?

    While some programs prioritize high-growth sectors, others might have broader eligibility criteria. Explore all available options to find suitable funding.

    9. Can I use the funding for marketing and advertising?

    Generally, funding can be used for various business expenses, including marketing, website development, and inventory. Verify specific allowable expenses with each program.

    10. Where can I get help with my application?

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

     

    By exploring these resources and seeking professional guidance, you can increase your chances of securing the financial support needed to start or grow your business in Cambridge.

     

     

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