Small Business Grant

Grant funding

The Small Business Grant has been made available by North Kesteven District Council, to support micro businesses in North Kesteven.

The Council has allocated £50,000 to the Small Business Grant. This fund will be a discretionary grant scheme, offering grants of up to 40% of eligible costs. Grants are available from £500 up to a maximum of £5,000, with minimum project cost being £1,250.

Applications will be assessed and processed on a first come first served basis. Once all monies are committed, no further applications will be approved.

The grant will be used to facilitate growth and expansion of local micro businesses or those that are seeking to relocate to North Kesteven.

Eligibility

The grant is available for micro businesses in North Kesteven, that is those that employ between 1 and 9 full time equivalent employees. In exceptional circumstances, the fund may be available to businesses employing up to 15 employees.

The grant is open to businesses from any sector, which have been trading for a year or more, with their first set of accounts completed.

Businesses from all sectors can apply, but priority will be given to those businesses operating in the key sectors for North Kesteven. These are:

  • Agri-food
  • Low carbon
  • Manufacturing
  • Health & care
  • Visitor economy
  • Retail
  • Defence and digital

Businesses must be based in North Kesteven or proposing to set up within North Kesteven.

This grant will not normally be available for prototype/product development, however, please check with the funding team for a formal view on eligibility.

What can’t we Fund?

  • Ongoing revenue costs
  • Feasibility costs
  • Consultancy costs
  • Salary costs

Grant process

The applicant business will have the option to take advice and guidance from the Council’s retained business advisor, Phil Means, during the application process. You can either call Phil on 07920 472671 or email phil_means@n-kesteven.gov.uk.

Where an application involves the purchase of equipment or construction, all applicants will be required to ensure value for money. For new equipment, this means obtaining at least three quotes. Where second hand goods are being purchased, applicants should seek advice from the funding team on requirements for best value.

As per standard grant procedure, NKDC will not accept retrospective applications for work already complete or partially undertaken. As such NKDC stipulates that no pre-emptive work on any proposal must be undertaken until such time as a decision has been made by the award panel and the applicant has been notified of the outcome.

Scoring of applications

All applications will be considered by a three-person panel that consists of the Economic Development Manager, Senior Economic Development Project Officer, and a member of the Council Finance team. Additional expertise will be co-opted onto this panel as required.

Required Supporting Documentation

Your business’s last full financial year accounts, and a copy of a bank statement. If applicable 3 quotes, e.g., for building work and purchases of new equipment.

Apply

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