Commercial property hits 10 year low
Cash and advice are being offered to help people made redundant from Norwich companies to set up their own businesses.
Norwich4Business is offering loans, grants and services valued at £5,000-£20,000 to suitable candidates.
Backed by top Norwich firms, Norfolk and Norwich councils and a charitable trust, the norwich4business programme is open to applicants in the Norwich area who have been made redundant in the last year or who face redundancy.
They must also demonstrate their intentions to set up a new business in the Norwich area and will be expected to put in some of their own money, as well as providing a business plan.
Typically, the finance would be used to:
Meet start-up costs.
Assist with developing new products or services.
Pay for professional services, such as legal fees, intellectual property advice, tax advice, commercial property advice etc.
Training and skills development.
Acquisition of capital equipment.
Applicants needing support with their business plan should contact BusinessLink East to participate in the new business start-up scheme, which includes a range of specialist support that should be explored before applying.
Regular reports will need to be provided to the programme administrator, giving an update on progress. These should be provided at least annually but, for stage payments, reports will be expected before second and subsequent payments are released. Where non-financial support is provided, a report from the support provider will be needed.
The business must acknowledge the support of the programme on literature, websites and in the workplace. It must also demonstrate a reasonable commitment to fair pay and health and safety.
The awarding panel will consider the impact of the support for a proposal on local competition. It cannot subsidise the establishment of one business that may adversely impact on another.
Complete the form which is available to download on www.norfolkfoundation.com/ norwich4business, sign it and return by post to Norwich4Business, Norfolk Community Foundation, St James Mill, Whitefriars, Norwich NR3 1SH.
Backers: Barratt & Cooke Stockbrokers, Charles Littlewood Hill Charitable Trust, Fox Murphy, Grant Thornton, Mills & Reeve, Norwich City Council, Norfolk Community Foundation, Norfolk County Council, Norwich Union
Courtesy of EDP
24 July 2008
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