The Fund can provide up to £1000 to new businesses that are able to demonstrate growth potential. The grant can support the costs of commercial rent, IT or website development, but cannot be used for wages or stock. It is open to sole traders, partnerships, limited liability partnerships and limited companies that have been trading for no more than 12 months, and
- operate the business from the Renfrewshire Council area, and
- are working with a Business Gateway Adviser, and
- have the potential to achieve a minimum annual turnover of £100k within three years of trading, and
- have a business bank account,
The Fund is not open to retail businesses unless serving a particularly niche market.