05

July

Funding scheme to boost new and growing businesses in Glasgow

New and expanding businesses currently operating in, or considering relocating to, four areas of Glasgow (Calton, Canal, East Centre and North East) can access funding from Glasgow City Council through a new scheme – the Community Business Boost.

The Community Business Boost, which has a budget of £370,000, will support new and expanding local businesses by offering part-funding of premises costs over two years – 50% of annual rental costs, up to a maximum of £15,000 over the period – as well as other support and advice.

Businesses who can make a clear case that they will grow sustainably and create jobs are invited by the council to submit an application for funding to support the lease of a property in the city.

Eligibility criteria include:

  • The business must employ fewer than 250 people worldwide.
  • The business has been trading for less than three years or can demonstrate significant growth potential.
  • The business must be currently trading from home or a business incubation facility in Glasgow.
  • The business has not signed a commercial lease agreement or must be able to exit an existing lease agreement.

These four areas chosen for the scheme were selected as they are the parts of the city with the highest levels of multiple deprivation.

Councillor Susan Aitken, Leader of Glasgow City Council and City Convener for Inclusive Economic Growth, said: “The Community Business Boosts offers young and growing businesses the chance to access funding which could make a critical difference to their development. This scheme supports the growth of businesses in these four areas of Glasgow, boosting economic growth and job opportunities for local people.”

For more information on the scheme, please visit: https://www.business-glasgow.co.uk/Support/community-business-boost.


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