New £100,000 small business grant programme is launched in South Cambridgeshire

Small businesses in South Cambridgeshire are being invited to apply for funding of up to £5,000 each in a new grant programme launched this week.

The funding is available to those already trading with ambitions to grow and will provide grants, advice and support for existing businesses with up to nine employees.

The new support grants are available as part of the UK Shared Prosperity Fund. Cambridgeshire and Peterborough Combined Authority (CPCA) is the lead authority for delivery of the Fund, while the District Council is responsible for grant scheme delivery and allocation.

Cllr Peter McDonald, Lead Cabinet Member for Economic Development, said: “We are thrilled to launch this small business grant program as part of our ongoing commitment to supporting local entrepreneurs and small businesses. South Cambridgeshire has a vibrant and innovative business community, and we want to ensure that both new and existing businesses have the resources they need to thrive. This funding will not only help safeguard jobs but also foster growth and innovation, driving our district’s economy forward. We encourage all eligible businesses to take advantage of this opportunity and contribute to a sustainable and prosperous future for South Cambridgeshire.”

For those looking to start a business and get their foot on the ladder, there is free advice on offer, including how to create a viable business plan.

The startup advice will be delivered by the Business and Intellectual Property Centre and the Cambridgeshire and Peterborough Combined Authority Growth Hub. Resources are available to help entrepreneurs ensure their new business is viable, registering a new business, and how to market a business.

To successfully apply for a grant, small businesses must already be registered and trading in South Cambridgeshire and must show a business plan demonstrating:

• An innovative and ambitious business plan for growth over the next two years with evidence of the businesses ability to grow
• Evidence of how any funding received will be used
• Where applicable, evidence of how any funding received may be used to adopt new technologies and changing market conditions
• Number of jobs safeguarded
• Number of new jobs created
• Benefit to the local economy
• Steps your business is taking towards achieving net zero carbon and decarbonisation of your business activity and your supply chain.

Grants of up to £5,000 are available to fund the following:

• Website development
• Brand development
• Marketing campaigns
• Training for upskilling existing staff
• Commissioning of research
• Funding towards the use of workspace at South Cambs Hall
• Purchase machinery and associated tooling
• Purchase of office or technical equipment
• Funding towards electric business vehicles or an electric bike
• Purchase of IT hardware
• Renovating buildings or businesses premises/furnishings

Applications will be open until 31 October 2024. Businesses may only make one application. The District Council reserves the right to close the application window earlier should the level of demand exceed the maximum funding available.

More information can be found online

Or please contact businessgrants@scambs.gov.uk quoting Small Business Grant.