Contracts to Purchase Existing Business by trd20152


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Business Start-up Grant

Working closer
with communities
Business Start-up Grant Application
General criteria                                                             Payment
• Grants are available to businesses located in North Tyneside               • Grants will be paid in arrears on receipt of proof of purchase and
  borough, which have not yet begun trading or have been trading               completed monitoring form. Other evidence of a transaction,
  up to 6 months at the date of application.                                   including bank statements may be required.
• Grants can be up to 50% of eligible costs to a maximum of                  • Grant cheques will normally be made payable to the business in one
  £5,000.                                                                      instalment except in exceptional circumstances.
• Applications must be approved prior to expenditure taking place.           • No commitment must be made to the purchase of goods before an
• Grants cannot be used in conjunction with other grants for the               offer of grant is received. Receipts must be dated after the offer
  same expenditure.                                                            letter.
• All grants are subject to availability of funding.                         • Grants should be claimed within 12 weeks of approval.
• Two quotations are required for all proposed expenditure.                  • Repayment of the grant may be demanded if an applicant is found
                                                                               to have made a fraudulent application or, within three years from
Assessment criteria                                                            the payment of the grant, the recipient;
• Grants are awarded on a discretionary basis and incomplete                   • Ceases to trade
  applications will not be considered. Up to a maximum of £5,000               • Moves out of North Tyneside
  can be awarded depending on the jobs being created and                       • Disposes of the asset which was grant assisted
  strength of the business plan.                                               • Fails to allow inspection of the asset
                                                                               • Fails to provide monitoring information required by the scheme

Eligible costs                                                               North Tyneside Council reserves the right to add to, delete or amend
•   Improvements to premises                                                 any condition at the Council’s absolute discretion and any such addition
•   ICT equipment and software                                               and/or amendment shall be totally binding on the applicant.
•   Marketing
•   Goods must be purchased from a business
•   Equipment costs

Ineligible costs
•   VAT
•   Vehicles
•   Stock
•   Overheads
•   Working capital
•   Maintenance contracts
•   Purchase of an existing business
•   Lease / Hire purchase

Ineligible businesses
• The following businesses will not be eligible for grant assistance:
  Betting shops, transport including bus, taxi, road haulage, maritime
  and aviation transport, self employed sales agents, ticket agents,
  landlords, providing legal or accountancy services, banking,
  insurance, money lending, debt factoring, hire purchase financing
  and other financial activities, independent financial advisers,
  projects which have as their object the promotion of political or
  religious views, social clubs, night clubs, pornography, nudity, illegal
  or immoral activities.

• Applicants will need to demonstrate that they have sought and
  received advice & support from an appropriate business support
  agency, Local Authority or own professional adviser.
• Applicants should supply two competitive estimates for all
  expenditure for which grant is sought.
• Applicants will need to provide a business plan demonstrating
  viability and including details of project expenditure. Assistance
  with preparation of a business plan is available from an
  appropriate agency.
• A cashflow forecast covering the next 12 months must be
  submitted with the application.
 Application form
 Business                                                                               Email
 name                                                                                   address

 Business                                                                               Web
 address                                                                                address


 Post code                                                                              Business
                                                                                        start date

 Telephone                                                                              Contact
 number                                                                                 name

 Mobile                                                                                 Position in
 number                                                                                 company

Your grant
Please complete the following section as fully as possible (continue on a separate sheet if you need to).

 Project description

Please list all the items to be purchased.

 Item description                                                                                           Value of first quote   Value of second quote

                                                                                        (excluding VAT)
  Describe why the grant will be helpful to the business

Please complete the following table to explain how this grant will create jobs:

  Number of employees (inc. proprietor, partners & directors)                                              Full time           Part time              Total

  Current (existing business only)

  Proposed (after grant awarded)

  Estimated (after 6 months)

  Estimated (after 12 months)

  Source of funds - list the source and amount of all the finances that have been confirmed as available for the project, and for which application has been made

  Please give details of any other business support, training or other grants that you have received in the last 3 years
I declare that the information contained within this application is, to the best of my knowledge, accurate and complete in all respects, and I accept that any grant paid will
become immediately repayable in the event of any material inaccuracy or submission of false information. I accept that there is no right of appeal. I have read and accept
the terms and conditions relating to the payment of financial assistance and I acknowledge the circumstances in which the financial assistance may be reclaimed.

Signed                                                                  Print

Company                                                                 Position                                                              Date

Checklist for applicants

• Fully completed application form                                        • 2 quotations for all                                            • Adviser signature
• Business plan                                                           • Cashflow forecast

Adviser                                                                 Adviser
signature                                                               name

Company                                                                 Date


DATA PROTECTION ACT The information on this form is required as evidence for claims to be made from Council initiatives.
The data will only be used to satisfy monitoring and audit requirements and will not be used for any other purposes. Completion of this form is necessary to verify the
amounts the Project Sponsor claims back as part of the running costs of this project. This information, if stored on computer, is subject to the rules and provision of the
Data Protection Act.

Equal opportunities
In order to help us to monitor the effectiveness of our scheme, we encourage applicants to respond to the following short series of questions.
This information will have no bearing on the appraisal of the application.
Please tick the boxes as appropriate

Business status                                   Pre - start                              Existing
                                                  (New business)                           (Up to 6 months old)

Gender                                            Male                                     Female

Age                                               16 - 24 years                            25 - 49 years                            50 years or over

Gender                                      Please indicate the most appropriate category below:
                                                White - British                    Asian or Asian British -                         Mixed - White and Black -
                                                                                   Indian                                           Caribbean

                                                  White - Irish                            Asian or Asian British -                 Mixed - White and Black -
                                                                                           Pakistani                                African

                                                  Other White background                   Asian or Asian British -                 Mixed - White and Asian

                                                  Black or Black British -                 Other Asian background                   Other Mixed background

                                                  Black or Black British -                 Chinese                                  Information refused

                                                  Other Black background                   Other Ethnic background

Disability                                        I consider myself to                     I do not consider myself to
                                                  have a disability                        have a disability
Please submit a 12 month cashflow for your business on a separate sheet(s) or complete the template below.

Period Income                       1               2               3              4               5         6   7   8   9   10   11   12   Total

Cash sales
Credit sales
Grants & Loans
Capital Invested

National Insurance
Rent & Rates
Water Rates
Heat, Light & Power
Marketing & Advertising
Vehicle & Fuel
Repairs & Renewals
Accountant & Legal fees
Loan Repayments
Total Expenditure

Net Cashflow
Opening Balance
Closing Balance

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