Enterprise Catalyst initiative offering £50,000 grants to boost Birmingham start-ups
£9.3m EU-backed project designed to encourage enterprise in Midlands’s city
Start-ups and small businesses in the Birmingham area have been encouraged to participate in the Enterprise Catalyst programme, a new £9.3m scheme designed to boost enterprise in the city.
The scheme, which is partly backed by the European Regional Development Fund (ERDF), will offer grants of up to £50,000 to qualifying local start-ups and existing small businesses as well as free mentoring and expert advice from business leaders.
To qualify for support, individuals must live or have a business trading within the scheme’s boundaries of northwest, central and southeast Birmingham.
Businesses in the retail sphere will not qualify for support, as it is not an eligible ERDF business activity area. Retail businesses wishing to extend into other areas may be considered.
The support programme is designed to help entrepreneurs overcome key obstacles to growth, including developing a business plan, understanding employment and tax law, and obtaining early-stage capital for growth.
Tahir Ali, Birmingham City Council cabinet member for development, jobs and skills, said: “Entrepreneurs and small businesses that create growth are one of the keys to economic recovery.
“For us to be an Enterprise City, we need to encourage greater growth in private sector businesses and social enterprises that employ and train local people and make a positive contribution to the communities in which they operate.”
To find out more about the scheme click here.