Councils launch specialist fund to offer support to new Lanarkshire businesses

dailyrecord.co.uk:

A new £700,000 fund is being launched to support Lanarkshire residents in setting up their own businesses.It will offer grants of between £1000 and £2500 for essential costs and is aimed at those with a “robust, viable idea who need funding support to start trading”.

Opening for applications on March 31, the fund is being provided jointly by North and South Lanarkshire Councils and will be delivered with the help of Business Gateway Lanarkshire.

The Lanarkshire Live app is available to download now. Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android Funding is available for purchases including IT equipment, infrastructure costs, website design and stock, while the higher amounts will be provided for businesses renting commercial premises and employing staff.Applicants will be able to reapply for a second payment after six months to help with working capital requirements, after being able to demonstrate “three months of trading and ongoing viability”.Enterprises must supply a business plan and 12-month cashflow statement to apply, with more information being available from Business Gateway Lanarkshire when the fund opens.

North Lanarkshire depute leader Paul Kelly said: “Running your own business is a common ambition, and in Lanarkshire we want to help make that dream a reality for more people. “Our new start-up fund will provide an important initial boost for people