Business Start up Grants & Low cost loans
Finding a business for sale is the first and easiest step in business transfer process. After sourcing funding to purchase the business, you will then have to look at on-going income and expenditure. Luckily there are many sources of funding available to those in certain areas. The main issue is finding out about these funding sources.
At Jacob & Jones, we pride ourselves in keeping up to date with all the relevant grants available to start up and existing businesses in the UK.
Below are 3 of the easiest grants currently available to most businesses in Scotland. For details of other sources of funding please call our team on 0141 334 8068.
Business Start Up Grant (new businesses) – Grants of up to £1,000
This is the easiest grant to access. Its available for new-start businesses and those that have been trading for up to 6 months. Its only available to those companies in the Glasgow area and is limited to £1,000.
The grant is for the purchase of computers / fixtures & fittings / consumables (stationery, etc).
New Business Fund (new businesses) – Grant pays up to 80% of rent
This superb grant will pay 80% of your business rent in the 1st year, 30% in the 2nd year and 30% in the 3rd year. The grant is limited to £15,000 per business and the business premises must be in the Glasgow area.
To access this grant you must provide detailed business plans showing that the business is sustainable and likely to support employment.
This grant is reasonably difficult to access and you must make sure the business plan is detailed, understandable and shows real potential.
Commonwealth Jobs Fund (new & existing Business) – 50% of salary paid for 12 months
The Commonwealth Jobs Fund is available to ALL business within Glasgow with less than 250 staff. This grant pays 50% of the new employees salary for 12 months. The employee must be between 18 and 24 years old, being unemployed or underemployed for over 6 weeks and the pay rate must be the living wage (£7.20 per hour).
This is an easy grant to access especially if the business has been operational for more that 12 months. For new businesses, you will have to provide business plans.
For those looking for a business for sale in Glasgow, the ability to receive 50% of an employee’s pay for 12 months is a great why to reduce your outgoings on your new venture.
Call Jacob & Jones now on 0141 334 8068 and our staff will happily take you through the application process.