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Business support funding

If you are looking for business funding, your first point of contact should be our Business Engagement team. They will be able to discuss your business needs and identify the best way forward based on support available from us and partner organisations.

If you would like to discuss plans and learn about what support is available, please contact our Business Engagement team on 01257 515300 or by email to edu@chorley.gov.uk.

 

Start up loans

Start Up Loans is a UK-wide government backed scheme which offers a repayable loan to individuals over the age of 18 who have a viable business idea but no access to finance. The scheme funds businesses in every sector.

As well as financial backing all loan recipients are given access to a mentor, free training events and exclusive business offers. Loans are available from £250, but the amount you can borrow will be determined by your business plan. To be eligible to apply for a Start Up Loan, your business must have been trading for less than 24 months.

View more information on start up loans.

 

Rosebud business finance

Get fast, flexible finance, from £10,000 to over £1 million. Lancashire County Council is looking for ambitious growing businesses to support. Rosebud Micro provides finance from £10,000 to £49,000, while Rosebud Business Finance provides funding from £50,000, along with a package of customised business support and advice. Rosebud is looking to support growing businesses in the following high growth business sectors:

  • advance manufacturing
  • aerospace
  • finance and professional
  • creative and digital
  • energy and environment
  • health.

View more information on Rosebud Business Finance on the Lancashire County Council website.

 

Access to Finance

Businesses looking for finance, whether for the first time or after they have been declined by a lender, can receive free and impartial advice from Access to Finance.

Services the team provide include an assessment of your financial position and funding requirements, assistance with the development of a business plan, coaching and mentoring to develop an investment proposition, introductions to suitable finance providers, and support at meetings with lenders and investors.

View more information on Access to Finance on the Business Growth Hub website.

 

Northern Powerhouse Investment Fund 

The Northern Powerhouse Investment Fund offers 3 different funding options designed to plug gaps in the provision of commercially available finance, ranging from £25,000 loans to £2million equity investments. 

Funding options include:

  • small business loans. £25,000-£100,000, for new or growing businesses to support working capital needs
  • business loans. £100,000-£750,000, for early stage or more established businesses that can demonstrate growth potential
  • early stage and later stage equity funding. £50,000-£2million, for start-ups or more established businesses with high growth potential. 

View more information on the Northern Powerhouse Investment Fund.

 

Your local bank

Banks can offer practical solutions and a range of products to support your business; whether it is business growth or asset purchases, your bank could potentially help you to secure vital 'match funding' for other funding programmes.

 

Apprenticeships

Apprentices are aged 16 or over and combine working with studying to gain skills and knowledge in a specific job and can be new or current employees.

You can get government funding to cover some of the cost of training and assessing an apprentice if you are in England.

You must pay the apprentice at least the minimum wage. Apprenticeships must last for at least a year and can last up to 5 years depending on the level the apprentice is studying.

Your apprentice must:

  • work with experienced staff
  • learn job-specific skills
  • get time for training or study during their working week (at least 20% of their normal working hours).

There are several steps to taking on an apprentice. View more information on employing an apprentice on the GOV.UK website or contact the National Apprenticeship Service on 0800 015 0600.

Kickstart Programme

Scheme background

The Kickstart Scheme was devised to provide new job placements for Young People aged 16 to 24 years old in receipt of Universal Credit, who are at risk of long term unemployment. Employers of all sizes can apply for funding which covers:

  • 100% of the National Minimum Wage (or the National Living Wage depending on the age of the Young Person) for 25 hours per week for a total of 6 months
  • The National Insurance contributions for each Young Person
  • Employer minimum automatic enrolment contributions

View more information on employment support.

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