Starting your business

6. Finding finance

There are limited grants available for new start businesses but loans may be accessible to assist with starting a business.

Start-up loans

We are working in partnership with Business Finance Solutions (part of Manchester Growth Company) to offer Start-up loans from £500 to £25,000 at 6% APR coupled with a package of support that includes:

  • support with business plans and cash flow forecasts
  • start-up workshops and one to one business support
  • a professional business mentoring service, post loan
  • access to free PR services
  • special business offers from partners Intuit, Paypal, eBay and many more

New Enterprise Allowance

The New Enterprise Allowance (NEA) is a scheme designed to help the long-term unemployed back to work by helping them set up their own business. If you have a feasible business plan, you might be entitled to a weekly allowance worth up to £1,241 over 26 weeks.

If you’re interested in joining the New Enterprise Allowance scheme please contact your Job Centre who will check your eligibility and if agreed suitable they will refer you directly to People Plus. You will then be allocated a personal Business Adviser who will be able to discuss the scheme further with you.

Find out more about NEA