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    Last update 05/08/2024

    Grants and Loans for Startups and Small Businesses in Oadby and Wigston, UK

    In Oadby and Wigston, there are a few options for government grants and loans available to startups and small businesses. This guide provides an overview of the opportunities, eligibility criteria, and how to apply.

    Grants

    Shop Front Improvement Scheme

    • This scheme, funded by the UK Government through its Shared Prosperity Funding, offers grants of up to £2,000 (matched by the applicant) for businesses in Oadby and Wigston to make improvements to their shop fronts.
    • Website: Shop Front Improvement Scheme Oadby and Wigston

    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. You can apply for the loan online.
    • Website: Start Up Loans

    Other Resources

    Business Gateway Growth Hub

    • The Business Gateway Growth Hub offers free support for businesses in Leicester and Leicestershire, including Oadby and Wigston. They can help you find funding and other resources for your business.
    • Website: Business Gateway Growth Hub Leicester

    Additional Links

    Important Tips

    • Check the Oadby and Wigston Borough Council Website: The council's website has a dedicated section for business support and grants.
    • Website: Oadby and Wigston Business Support
    • Contact the Council Directly: Reach out to the council's economic development team for personalized advice and guidance on available funding options.

    Contact Information

    Oadby and Wigston Borough Council

    FAQs about Grants and Loans for Businesses in Oadby and Wigston

    1. Are there grants specifically for online businesses in Oadby and Wigston?

    While specific grants for online businesses may be limited, broader programs from Oadby and Wigston Borough Council and the Business Gateway Growth Hub 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 Shop Front Improvement Scheme offers grants up to £2,000.

    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 team can offer guidance and assistance with your application, helping you navigate the process.

    While the options may be limited, these resources can be valuable for startups and small businesses looking for financial support in Oadby and Wigston.

     

     

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