Micro enterprise fund

The purpose of this fund is to support businesses with ten or fewer employees (including sole traders, constituted community groups, social/community enterprises and co-operatives) who are looking to expand and grow their business or individuals looking to set up a business.

The fund will offer each eligible business / individual a one-off grant up to £1,000 covering up to 90% of eligible costs of viable projects.

Examples of viable projects:

You must be able to demonstrate the project is essential to on-going business growth and that it will have a positive economic impact on the local area. Examples may include:

• Purchase of capital equipment (excluding vehicles) for the purposes of expansion
• Acquisition or improvement of commercial property for the purposes of expansion
• Development of e-commerce platforms or digital transformation activities
• Specialist consultancy support
• Targeted marketing in relation to new markets
• As leverage for co-finance to secure additional investment through debt or asset finance etc.

Please ensure you have a minimum of two quotes available to upload. Note: Perth & Kinross Council reserves the right to restrict grant funding to 90% maximum of the lowest quote.

We will review your request and if successful, you can arrange for the project to commence.

The full cost of the project must be met by the applicant and the grant will be paid retrospectively and on receipt of paid invoices.

Conditions:

• The Council reserves the right to request a meeting with the applicant prior to reaching a decision.
• The Council reserves the right to reject grant applications where the applicant has outstanding debt due to the Council
• Monitoring report to be submitted 12 months after grant payment. The grant cannot be used for working capital including the payment of rent.
• Project must not be started prior to approval being given.
• Grant may be fully repayable if business ceases trading or moves outside the Perth & Kinross area within 3 years of receiving the grant.
• The full costs need to be met by the recipient and the receipt(s)/copy invoice(s) then submitted to - Perth & Kinross Council. Businesses need to factor this into their cash flow.
• Perth and Kinross Council will only pay the grant on the basis of the submitted invoice which is supported by appropriate and accurate evidence in the form of paid invoices.
• The grant cannot contribute towards the cost of statutory fees such as planning permission or a building warrant.
• A maximum award of £1000 is available per business/social enterprise/community organisation during the lifetime of the scheme.
• The project must be completed and grant claim invoices received within 6 months of the date of the letter of offer.
• Following payment of the grant, the recipient will be required to provide a report on the outcomes achieved by the investment.
• Business should be prepared, if required, to participate in publicity initiatives arranged by Perth & Kinross Council to promote this grants scheme.