shadow shadow shadow shadow shadow
    Last update 28/07/2024

    Grants and Government-Backed Loans for Startups and Small Businesses in East Devon

     

    Local Resources

    East Devon District Council is an excellent starting point for finding support services, grants, and funding opportunities.

    Key Areas to Explore on Their Website:

    • Business Support: Information on local business support programs and networks.
    • Business Rates: Potential relief or exemptions.
    • Economic Development: Local initiatives and funding opportunities.

     

    Government-Backed Support

    The UK government provides various grants and loans to support startups and small businesses. Key resources include:

    Business Finance Support Finder: A government tool to help find suitable funding options based on your business needs.

    Start-Up Loans: Government-backed loans of up to £25,000 for businesses starting up or less than 24 months old.

     

    Regional and Local Initiatives

    Devon Elevation Fund: Offers grants of between £2,500 and £25,000 for projects that help businesses and community organizations.

    Innovation & Resilience Fund: Provides grants of between £3,000 and £30,000 for East Devon businesses looking to support transformational projects.

    Prosper Business Support: Offers wide-ranging support for businesses in Exeter, East Devon, and Mid Devon, including help with funding.

     

    Additional Resources

    Business Information Point (BIP): Provides information on business funding and grants in Devon.

    Devon County Council: Information on current business support projects and funding opportunities.

    Small Business Grants and Funding - Devon and Somerset: Government website with advice and support on funding for SMEs.

     

    Tips for Finding the Right Funding

    1. Clearly Define Your Business Needs: What is the funding for? How much do you need?
    2. Research Available Grants and Loans: Look for options that match your business sector and stage.
    3. Prepare a Strong Business Plan: A well-written plan increases your chances of securing funding.
    4. Network with Other Businesses: Connect with local entrepreneurs and business owners for advice and support.

     

    East Devon District Council Contact

     

    Frequently Asked Questions (FAQ)

    Q1: What types of businesses are eligible for Start-Up Loans?

    A1: Start-up loans are available to new businesses and those that have been trading for up to 24 months.

     

    Q2: How do I apply for business support from the East Devon District Council?

    A2: Visit the East Devon District Council website and follow the business support section for detailed information and application processes.

     

    Q3: What is the interest rate for Start-Up Loans?

    A3: Start-up loans have a fixed interest rate of 6% per annum.

     

    Q4: How important is a business plan when applying for grants and loans?

    A4: A well-structured business plan is crucial as it increases your chances of securing funding.

     

    Q5: Can I apply for multiple grants and loans?

    A5: Yes, you can apply for multiple grants and loans as long as you meet the eligibility criteria for each one.

     

    Q6: What should I include in my grant application?

    A6: Ensure you include all necessary documentation, a clear explanation of how the funds will be used, and how it will benefit your business.

     

    Q7: Can I seek advice from the council regarding my application?

    A7: Yes, East Devon District Council provides advice and guidance for businesses looking to apply for grants and funding.

     

    Q8: What are alternative funding options if grants and loans are unsuccessful?

    A8: Consider exploring crowdfunding, angel investors, or venture capital as alternative funding options.

     

    Q9: How can I stay updated on new funding opportunities?

    A9: Regularly check the East Devon District Council website, sign up for newsletters, and network with local business support organizations to stay informed about new funding opportunities.

     

    Q10: Are there any specific grants available for new businesses in East Devon?

    A10: While specific grants might be limited, it's recommended to explore all available business support services provided by the East Devon District Council and related organizations.

     

     

    We use cookies and similar technologies that are necessary to operate the website.Please read our cookie policy.

    We use cookies and similar technologies that are necessary to operate the website. Additional cookies are only used with your consent. We use the additional cookies to perform analyses of website usage and to check marketing measures for their efficiency. These analyses are carried out to provide you with a better user experience on the website. You are free to give, deny, or withdraw your consent at any time by using the "cookie settings" link at the bottom of each page. You can consent to our use of cookies by clicking "Agree". For more information about what information is collected and how it is shared with our partners, please read our cookie policy.

    • Required to run the website
    • Monitoring website usage and optimizing the user experience
    • Evaluation of marketing actions
    • Storage of your preferences from previous visits
    • Collecting user feedback to improve our website
    • Recording of your interests in order to provide customised content and offers
    Cookie Settings Accept