Bolton, an emerging business destination in Greater Manchester, offers a fertile ground for startups and established enterprises alike. To support this growing commercial sector, Bolton council grants for startups and businesses have become instrumental in empowering companies with the financial means to prosper.
Last year, the UK government dedicated over £1,200 million to Bolton-based businesses through various grant schemes. Utilising these grants can alleviate financial stress and enable you to capitalise on Bolton’s expanding economic opportunities. Discover some of the latest grant offerings from the Bolton Council and get the most out of this complimentary money.
Innovation Vouchers for SMEs
If you’re looking to accelerate the development of innovative products and services, the Innovation Vouchers scheme offers up to £5,000 in funding to help SMEs in Bolton, Greater Manchester, access expertise, research, and specialist facilities. Here’s what you need to know about eligibility and how to apply:
To be eligible for the Innovation Vouchers scheme, your SME must meet the following criteria:
- Your business should be based in Greater Manchester.
- Your business should be an established SME.
- For every £1 you get, you should be able to contribute £1 to equal the value of the Innovation Voucher.
- You should be able to demonstrate the suitability and eligibility of your proposed project.
How to Apply?
If your SME meets the eligibility criteria, you can apply for the Innovation Vouchers scheme by following these steps:
- Complete the Innovation Vouchers application form, which can be found on the GC Business Growth Hub website.
- Provide detailed information about your business, your proposed project, and how the funding will be used.
- Demonstrate the suitability and eligibility of your proposed project.
- Await the outcome of your application. If successful, you will receive up to £5,000 as Bolton Council grants to support your proposed project.
Link to Apply- Apply Now
Seed Enterprise Investment Scheme
The Seed Enterprise Investment Scheme provides tax reliefs to individual investors who purchase new shares in your company, assisting your business in raising funds during its early stages. Your company can receive up to £150,000 through this scheme, which factors in any other de minimis state aid obtained within the past three years and contributes to limits for subsequent investments via other venture capital schemes.
To be eligible for the Seed Enterprise Investment Scheme (SEIS), you must meet the following criteria:
- Your company must carry out a new qualifying trade, be established in the UK, and not trade on a recognised stock exchange at the time of the share issue.
- At the time of issuing shares, your company should not have any plans to become a quoted company or a subsidiary of one. Additionally, your company should not have control over another company, unless that company is considered a qualifying subsidiary.
- Gross assets of your company and any of its subsidiaries must not be over £200,000 when the shares are issued, and they must not be a member of a partnership.
- Your company and any of its subsidiaries must have less than 25 full-time equivalent employees in total when the shares are issued.
- The investment received cannot be used to buy shares unless they are in a qualifying 90% subsidiary that uses the money for a qualifying business activity.
How to Apply?
To apply for the SEIS, you must follow these steps:
- Issue your shares.
- Complete a compliance statement (SEIS1) with the help of the company secretary, a director, or an agent authorised by you. The statement should include information such as the details of the company, the amount of share capital issued, the date of the share issue, and a declaration that the company meets the eligibility criteria for the scheme.
- Send the completed compliance statement (SEIS1) to HM Revenue and Customs.
It is important to note that the compliance statement should be submitted within two years of the end of the tax year in which the shares were issued, and before any claims for SEIS tax relief can be made.
Link to Apply- Apply Now
Bolton business grants offer a lucrative opportunity for entrepreneurs to kickstart their ventures and take them to the next level. These grants can help cover different financial expenses involved in equipment, marketing, and hiring employees. At Head45, we understand the importance of these grants for emerging businesses and are here to help you acquire them.
Our team of experts can guide you through the entire grant application process, from identifying the right grant opportunities to submitting a winning application. In addition to grant application services, we also offer cutting-edge web design and SEO services in Bolton to enhance your digital presence. Our marketing team understands the role of a strong online presence in today’s business landscape and can help you stay ahead in the competitive digital world.
Overall, if you want to accelerate your business growth in Bolton, look no further than Head45. Contact us today to learn more about our business grant application and website design services Bolton and take your business to new heights.