STATE ACKED
Page 35
If you've noticed an error in this article please click here to report it so we can fix it.
Do not ignore the wide range of Government sponsored incentive and financial aid schemes on offer nowadays. They are not just designed for the struggling beginner they could be just what you need to expand.
closely with a number of trade and professional associations to set minimum standards for the industry at present.
This scheme is administered for the Department of Trade and Industry by the Production Engineering Research Association based at Melton Mowbray in Leicestershire. The assistance takes the shape of a grant covering 25% of eligible costs and the maximum grant is 225,000. Eligible costs include producing a quality manual detailing your employees' responsibilities in areas like organising component stocks and stores; testing and inward inspection; reorganising and restructuring stores; training staff; and the costs of getting approval from the appropriate body. To qualify, you must not employ more than 500 people.
ENTERPRISE ALLOWANCE
The Enterprise Allowance Scheme is designed to give a regular income to people who set up in business after having been unemployed for eight weeks and who have at least £1,000 of their own to invest in a new business. Under the scheme, which is administered by the Manpower Services Commission, you will receive an allowance of £40 per week for a maximum of 52 weeks.
To qualify you will have to be over 18 and under pensionable age and unlikely to employ more than 20 people during your first three months in business. EAS is paid fortnightly in arrears from the date the business begins and it is regarded as a taxable receipt.
MIL DIM IMAM
PSV bus and coach operators in Great Britain are entitled to claim a refund of 100% of the duty charged on fuel used in their business. Further information on the details and amount of the rebates can be obtained from the DTp's 12 local traffic area offices around the country.
The new bus grant system was abolished on March 31, 1984, apart from in Northern Ireland where PSV operators can still claim for grants to cover up to 50% of the cost of a new bus. The Department of Employment runs a number of centres around Britain where you can go for free advice on raising finance and drawing up a proper business plan. The centres use local and experienced businessmen as their counsellors rather than civil servants so that you will be able to relate to them and their advice more directly. Freephone Enterprise through the operator and you will be put in touch with your nearest centre. The first three days of advice from your counsellor are free of charge, after that you have to pay.
RegionalDevelopment grants and assisted areas were set up to help businessmen get their companies off the ground in parts of the country suffering hardest from the recession. If your project is approved and you are based in such an area, you can get a job grant of 23,000 for every new job created and a grant to cover 15% of your capital expenditure. Until three years ago, regional development grants were only available for manufacturing industry, but the scheme has now been extended to cover a wide range of activities including mail order services, freight brokers and freight transport agents.