Start-Up Loans is a government-backed project lending up to £25,000 to people wanting to start a business or with a business less than 3 years old. All the information on Start-Up Loans, how to apply, the Start-Up Loans ambassadors and global partners can be found on their website: www.startuploans.co.uk New ‘second loans’ are available for businesses that have been trading for up to five year Loans to provide much-needed support for the UK’s innovators and entrepreneurs.
Lancashire Community Finance and Hyndburn Enterprise Trust are two of the local delivery partners for Start-Up Loans. They have all the details available on their websites or by calling them on 01772 556877 (Lancashire Community Finance) or 01254 600625 (Hyndburn Enterprise Trust).
The New Enterprise Allowance can provide money and support to help you start your own business if you’re getting certain benefits. You must be aged 18 or over, have a business idea and get one of the following benefits:
•Jobseeker’s Allowance (or your partner does)
•Employment and Support Allowance (or your partner does)
•Income Support, if you’re a lone parent or you’re sick
•You may also be eligible if you get Universal Credit.
You could get a weekly allowance paid for up to 26 weeks (up to a total of £1,274) and apply for a loan to help with start-up costs. Please see the Chamber of Commerce website for details.
The Prince's Trust provide support to young people aged 18-30 who are interested in setting up their own business, through a 4 day course and loan funding from £500-£5000. You should be aged 18-30 and:
• Unemployed (you don’t have to be claiming benefits)
• Working less than 16 Hours a week
• In education less than 14 Hours a week
• Graduates who have been out of University for 6 months
Please call 0800 842 842 or 07904 972498 or apply online: https://www.princes-trust.org.uk/help-for-young-people/get-in-touch
The local enterprise agency, Orvia Group, provides advice, mentoring and managed premises offered on short term leases. Please contact Orvia, on (01772) 429290 to find out if you could benefit.
The Social Enterprise Lancashire Network or Selnet, is an organisation created to support social businesses across Lancashire. Selnet offers networking, support and events and also offers support through the Start-Up Lancashire programme.
Social enterprises can apply for funding through the Reach Fund and First Ark Social Investment. Please see their webpages and our downloads page for details.
The Start Up Donut provides further useful information and resources for starting a new business.