Entrepreneurs based in the Isle of Axholme are being given a helping hand on their first steps in business with the launch of a new funding scheme.
UK Steel Enterprise, in partnership with North Lincolnshire Council and the Growth Hub, launched the Kickstart Fund initiative has been introduced in a bid to support people looking to establish a business or become self-employed by helping with initial costs. Grants of between £500 and £1,000 will be made available to budding entrepreneurs, alongside guidance and advice by Growth Hub advisers.
A spokesperson for UK Steel Enterprise - the part of Tata Steel which invests in companies and communities in steel regions - said an initial £40,000 is being set aside for the grants. The company has also committed additional support to help existing companies in the region to grow, and can provide investment finance of up to £1m to facilitate expansion and create job opportunities; as well as loans on favourable terms of up to £100,000.
Keith Williams, regional manager for UK Steel Enterprise, said: “Small businesses are the life blood of the economy, but starting a business is a big challenge. This funding, as well as the support and advice provided alongside it, will help those budding entrepreneurs who need an extra boost to get the ball rolling.”
Axholme Central Councillor Baroness Liz Redfern, leader of North Lincolnshire Council and chair of the Steel Task Force, said: “The UKSE Kickstart grants will help people meet the business costs associated with becoming self-employed or starting a small business. Starting out a new business can be very difficult, so we want to offer a helping hand.”
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