The BSUG offers funding for essential business purchases such as IT equipment, infrastructure costs, website design and stock costs. It has a tiered funding structure with grants of £1,000 and £2,500 available:
- £1,000 for home-based enterprises with employee headcount less than 1 FTE in addition to the proprietor.
- £2,500 for businesses that will operate from commercial premises and/or will have a minimum of 1 FTE in addition to the proprietor.
The structure has been devised to reflect the higher start-up costs associated with businesses operating from commercial premises and/or with employees. It also aims to encourage new start businesses to grow their operation earlier.
The BGSU has two payment points only. To be successful, applicants must provide evidence that they are able to use 100% of the grant award applied for (costs must exclude VAT). Applications are limited to one per business.
Successful applicants may have the opportunity to apply for a second grant award 6 months from the initial award to help with the ongoing working capital requirements of running a new business. The second award will be subject to criteria and availability of funds. Applications for the second award will close on the 15th of January 2023.