North Norfolk Business Enterprise & STart-up Grant Support Scheme Prospectus

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1 North Norfolk Business Enterprise & STart-up Grant Support Scheme Prospectus

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3 With around 6,000 businesses in the North Norfolk District (90% of which employ less than 10 employees) North Norfolk District Council (NNDC) recognises that small businesses play a fundamental role in the welfare and prosperity of the District. Having been a business owner myself, I am more than aware of the initial hurdles of not only starting a business, but also the challenges of growing a customer base, marketing services, developing the skills of employees and planning for the future. To help those looking to start a new business or existing businesses that want to grow, I am proud to be able to introduce the North Norfolk BEST Grant Support Scheme. Whether you need: Financial support with marketing Professional advice Infrastructure/equipment or Skills development a BEST grant could help to provide you with the vital funds needed either to establish or further grow your business. However, NNDC recognises that business support is not simply about money. That is why we are keen to help all businesses within the District to prosper by: Helping your business move into the District Signposting you to appropriate and relevant support Helping you explore other grant and finance schemes Helping you to find, develop and train employees Providing you with information, advice and guidance on work experience, traineeships and apprenticeship programmes Guidance on planning Assisting with environmental matters Providing useful points of contact within the Council Please read through this prospectus and explore how best your business could be supported in fulfilling its growth ambitions. The foundations of our local economy are built on businesses like yours. Working together we can continue to make North Norfolk a great place to live, work and do business. Cllr Tom Fitzpatrick Leader of the Council

4 Summary The North Norfolk BEST Grant Support Scheme has been introduced to help microbusinesses (those that employ less than 10 people) with starting-up a new business or assisting those who are looking to grow. Its creation is rooted from a recognition that financial support for small businesses of this size is lacking. With such a significant proportion of the District s businesses falling into this category and with many looking to start new businesses, NNDC recognised that more could be done to financially assist those who are looking to take the next step in expanding their business or take their first few steps in starting a new one. The BEST Grant Support Scheme can provide your business with a grant of up to The scheme is administered by North Norfolk District Council. The BEST Grant Advisory Panel will meet regularly to make decisions in awarding grants. As this grant is funded from a limited pot, it is important that all applications are well thought out, have strong justification, and that applications are submitted in a complete and timely fashion. Incomplete applications cannot be processed. Purpose The purpose of the North Norfolk BEST Grant Scheme is to help new or existing small businesses in fulfilling their development and growth aspirations. It is anticipated that by providing such a scheme, new and exciting businesses will be created and new jobs will be generated. Who is Eligible for the Grant? There are two types of grant available: The Enterprise Grant - this grant is open to sole traders and micro businesses (employing less than 10 people) located within North Norfolk District that are looking at growth and expansion by increasing turnover, widening their market or optimising their operation. The Start-Up Grant will be open to anyone wishing to start a viable new business within North Norfolk District. A start-up business is defined as a business that has been operating for less than 2 years. How do the Grants Work? Grants will be awarded on the basis that a minimum 25% contribution is made by the applicant business. Therefore, the grant can provide a maximum of 75% of the total amount needed. The minimum grant available is 500. The maximum grant available is 2,500. Therefore, as an example, for a start-up activity or project which requires a total investment of 2,000, a grant would be awarded for 1,500, with the business contributing 500. The applicant business can choose to top-up the funding above the minimum contribution required. As an example, if a business required 3,500 to aid its expansion plans, the grant could provide a maximum of 2500 and the applicant would need to demonstrate that they can provide the remaining 1000 required. What Can the Grant be Used For? Listed below are some examples of how the grants could be used: a. Marketing Design and set-up for a new website Design and printing of new promotional literature etc Participation in exhibitions, including marketing materials and related paraphernalia Marketing consultancy advice b. Professional Advice Business development consultancy advice

5 Planning consultancy advice Legal fees, eg for setting up the business, establishing copyright etc Land agent fees for land investigations and negotiations Accountant fees for setting up new internal procedures Any other relevant and more in-depth professional advice services c. Infrastructure/Equipment Construction of new facilities Enhancement of existing facilities eg specialist equipment for a specific purpose Signage (eg shop front signage, brown signs) d. Skills Development Business specific skills, eg marketing, cash flow forecasting, personnel management Continuing professional development courses and seminars Qualification or refresher courses and seminars Training associated with new regulations (eg AXE gas fitter courses) ICT training Recruitment and training of new staff, apprentices etc Applications for other purposes will be considered and it is recommended that you contact us to discuss this before making an application. Opt-in Support Below is a list of potential options that you could consider to support your business or choose to utilise as part of making the most of your BEST grant. Please take the opportunity to consider how best your business could be supported. If these are of interest, please tick the appropriate boxes within the application form. Enterprise North Norfolk (ENN) - business start-ups only (NO COST) ENN is a free business support programme. Our delivery partner, Engage with Business Ltd, is a Norfolk based company which specialises in helping people to start, grow and succeed in business. Through workshops, advice, mentoring and networking, ENN can guide you through the early stages of understanding how to start and grow your new business. Current workshops include: An Introduction to Self Employment and a 3-day Business Basics course. There are also Master Classes covering bookkeeping, marketing, social media, market research, selling with integrity, driving traffic to your website & digital marketing. As part of a business start-up grant, it is a condition that you have: a. Attended (as a minimum) the Introduction to Self Employment Workshop or preferably the 3-day Business Basics Workshop where you will gain a wealth of useful knowledge. The 3-day workshop includes support for producing a business plan. b. Alternatively, to support your application, it will be acceptable if you have received professional business advice from another recognised provider or can demonstrate prior business experience. Guidance on completing a business plan/cash flow is available for start-up businesses through the Enterprise North Norfolk workshops. For more information: Employment, Apprenticeship/Skills/Work Experience Support (NO COST) If you are growing your business you may wish to consider how you approach recruiting

6 the right people to support your plans. Our Learning4Everyone (L4E) Team, based in Merchants Place (Cromer) are committed to supporting those businesses that require assistance, information or support in employing people. Whether you need information about employment law, funding available for apprenticeships/traineeship schemes, how to take on work experience placements, building relations with schools/colleges, the L4E Team can directly assist or signpost you in the right direction. We want to help local people improve their skills, raise their aspirations and help your business to grow and succeed. For more information: /business/10245.asp Growth Accelerator GrowthAccelerator is a service for small and medium sized enterprises that are ready for their next big phase of growth. This national programme provides access to growth experts who will work with you to devise and deliver business-changing strategies. The primary aim of GrowthAccelerator is to help your business achieve rapid and sustainable growth through areas such as attracting funding, developing new products and services, brand development, entering new markets and managing change. A BEST grant could be used towards meeting the costs of employing a GrowthAccelerator Coach to help you fulfill your growth ambitions. Alternatively, if you have already engaged a local GrowthAccelerator Coach, the grant may be suitable to help with funding some of the areas of need identified by your adviser. For more information: Manufacturing Advice Service (MAS) MAS provides straight-talking practical support and advice for all aspects of manufacturing that can help your company to drive forward and improve its performance. Their highly regarded business support programme employs industry- specific specialists who will help you to identify how you can maximise your productivity and competitiveness in the market place. Their work includes: Helping you to develop your marketing and sales plans Working with you to bring forward innovative new products, services and design Developing a clear growth strategy Ensuring the right financial measures are in place Implementing IT solutions for your business Their dedicated experienced industry-specific advisers offer a free impartial on-site manufacturing diagnostic review of your business. Upon completion you will receive a full, no-obligation report which will outline actions you can take to improve your manufacturing operations. A BEST grant could be used to help with funding some of the areas of need identified by your MAS adviser. For more information: Inward Investment (not available for start-up businesses) If you are interested in relocating your existing business into the North Norfolk District, we are happy to consider applications from established businesses that are not presently located within North Norfolk Council District. A grant therefore represents a fantastic opportunity to move and grow your business in one of the best places in the country in which to work and live. The grant can be used for any of the purposes listed above to assist you with meeting the costs of relocation and establishing your business. Additional conditions: your business must be looking to acquire new premises (commercial

7 not residential) within the North Norfolk District Council boundaries. Requirement for a Grant Application The following documentation will need to be submitted in support of grant applications. For Existing Businesses: A Grant Application Form A Business Plan (including a cash flow projection for a minimum of 12 months) Proof of source for the business contribution element (eg bank statement or other financial evidence) A copy of your most recent accounts or financial summary letter provided by your accountant For Prospective Entrepreneurs or Business Start-ups: A Grant Application Form A Business Plan (including a cash flow projection for a minimum of 12 months) Proof of source for the business contribution element (eg bank statement or other financial evidence) Confirmation of having received business advice eg participation in the Enterprise North Norfolk programme or other similar business start-up courses. Or alternatively provide a statement confirming how business experience has been gained. This information will be treated confidentially. What is not Grant Eligible? No grant can be considered for: Any business which has been declared insolvent Any business which is struggling financially or regarded as demonstrating poor business practices Any new business which is to replace or replicate a prior business that has failed or been wound up Applications for replacement of old or redundant equipment (this should be allowed for through depreciation) Materials and/or labour costs relating to routine maintenance of existing facilities Purchase of a new business or a franchise Payment of wages for yourself or an employee Purchase of stock and materials Any applicant who has received funding through the North Norfolk Pathfinder Loan & Grant Scheme Any business presently in payment arrears with NNDC Any business with outstanding enforcement actions/issues identified by NNDC The purposes of any activity which is, or could be perceived as, unethical, prejudicial, illegal or anti-competitive Charities, not-for-profit or community groups, community interest companies Legal fees for litigation Annual accountants fees for tax and audit purposes Vehicles (unless primarily/integrally for business use) Income taxes Non-Domestic Rates Travel and accommodation costs Insurance fees Utility bills Existing debts Any aspect of sea defences This list is by no means comprehensive and should only be used as guidance and not as a definitive list. The final decision on grant eligibility will be taken during appraisal of the grant application. How to Apply

8 An application form can be downloaded from the NNDC s website or by contacting Funding Commitment North Norfolk District Council will honour funding commitments and will expect applicants to act reasonably with respect to the submission of the grant applications. It is important to be realistic in both the amount required and the ability to spend the grant within the timescales detailed below. Applicants can only apply for the grant once. If you are declined, you cannot re-apply for the same purpose within one year. Awarded grants will be expected to be fully spent within 6 months of the date of receiving the grant awarding letter. If you feel that you will not have been able to commit all the funds within 6 months, this must be detailed and justified within your business plan. A discretionary decision will then be made. Any unspent grant at the end of the grant period shall be expected to be returned, unless agreement otherwise has been confirmed in writing by North Norfolk District Council. Award of Grants There is no closing date for application for the grants. Grants will be awarded subject to availability of funding. The decision to award each grant will be determined by the BEST Grant Advisory Panel. The Panel will be democratically represented by nominated Members. It shall be chaired by the Cabinet Member for Business Enterprise and Economic Development. Final approval is delegated to the Cabinet Portfolio Holder for Business Enterprise & Economic Development in consultation with the Head of Economic & Community Development. Audit and Evaluation of Grant A grant agreement letter will be sent upon the successful award decision of the grant panel. This will set out the standard or any special grant terms and conditions and must be signed before an award is confirmed. Publicity and Branding It is important that the grant scheme is positively publicised and promoted. This will help us to raise awareness of the scheme. As such, it will be expected that suitable acknowledgement of the grant is referenced in any press releases, articles or similar. It should also be made clear in all publicity, correspondence etc that the grant has been provided by NNDC. Further information and making an application To find out more about the BEST Grant Support Scheme please go to where you will also find a link showing you how to apply. Alternatively, [email protected] If you would like to receive this document in large print, braille, an alternative format or in a different language, please telephone and we will do our best to help. NORTH NORFOLK DISTRICT COUNCIL HOLT ROAD CROMER NORFOLK NR27 9EN Telephone All decisions are made at the sole discretion of NNDC. There is no appeal process and all decisions are final.