The Business Advisory Service provides information and advice on grants and loans to help people start up in business or to support existing small businesses.
Services for starting a new business
The Business Advisory Service can help you develop your business plan and can provide access to finance to help you start up.
Who is eligible
Most of the services are free to people who are unemployed and subsidised for local businesses.
Grants and loan schemes often have criteria which applicants must meet. For example you may have to live in a certain area or use the grant for a specific purpose (e.g. a grant to improve a shop front).
FAQ
Can you provide me with cash to help me start my business?
No. We do not provide financial support directly, but the service can provide you with details of how you can access grants or loans from banks and other schemes.
How do I access financial support?
You will need to complete a detailed and robust business plan which will provide the the bank or lender with sufficient confidence that you will be able to repay the loan.
Will I have to pay back the money?
You will normally have to pay back the money you borrow. You will also need to pay back interest on your loan. Banks charge a commercial rate, while some loan schemes which are supported by the Government offer lower interest rates.
You will not have to pay back a grant, but there are few grants available. If grants are available they are typically small grants of up to £1,500 to help start up a business.