The Prince’s Trust – Enterprise Programme
The Prince’s Trust are working with the Start Up Loans Company to offer low-interest personal loans for business purposes between £500 and £25,000 at a rate of 6.2% APR. The programme works with individuals aged 18-30 to provide training, mentoring, and funding to begin building your business.
Click here to see if you’re eligible
Business Recovery Loan Scheme
The Business Recovery Loan Scheme has been extended until 30 June 2022.
It was announced in the Autumn Budget that the Recovery Loan Scheme – originally expected to close on 31 December 2021 – would be extended until Thursday 30 June 2022. The scheme allows businesses to apply for a loan of between £25,000 and £10million. The loans are 80% backed by the government, giving guarantee to lenders if businesses are unable to repay.
To be eligible, your business must be trading in the UK and you need to show that your business:
- Would be viable if not for the pandemic
- Has been adversely impacted by the pandemic
- Is not in collective insolvency proceedings
Businesses from any sector can apply, except:
- Banks, building societies and (re)insurers
- Public-sector bodies
- State-funded primary and secondary schools
TalentView Construction (TVC) – Early Careers Initiative
Launching on 21 September 2021, Talentview Construction (TVC) is an early careers initiative supported by the Government and the Construction Leadership Council as well as funded by the industry CITB levy. Free to use, TVC makes it easier for those searching for a career in the sector to join the sector and take advantage of opportunities.
According to research conducted by the TVC, the construction industry needs to recruit roughly 217,000 new workers between now and 2025 to support its current activity. The initiative will help candidates by signing them up to alerts for job opportunities and building their own online profile so employers can find them more easily.
Click here to browse the TVC website and see how they can help you find opportunities within the sector
Gigabit Broadband Voucher Scheme
The Government is providing up to £210m worth of voucher funding to help those experiencing slow broadband speeds in rural areas.
Click here to check eligibility in your area!
PPL Momentum Music Fund
The PPL Momentum Music Fund offers grants of between £5k-£15k for UK based artists and bands to develop their careers.
Activities supported by the fund include recording, writing, touring and marketing.
Applications can be submitted by the artists themselves or those who are working on their behalf, for example: a manager, an independent label or publisher.
Priority will be given to those that have not been funded by PRS for Music Foundation in the previous 12 months. The PRS Momentum Music Fund is open to artists/bands that are at a crucial tipping point in their careers, showing progression and growth.
For any questions about an application, contact firstname.lastname@example.org.
The deadline for this fund is to be announced.
Reed Discount Courses
Recruitment Agency Reed is offering discounts on a range of courses that would otherwise be priced at around £1000.
As a part of the Government’s upskilling scheme, Reed has a number of courses available from £10 as well as a select number of free courses.
Click here to find a course for you!
Incentives for Hiring Apprentices
On October 04 2021, Rishi Sunak announced that the incentive payments to employers for hiring an apprentice will be extended until 30 November 2021.
The incentive scheme offers a payment of £3,000 for apprentices with an employment start date from 01 April 2021 to 30 September 2021.
From 11 January 2022, you will be able to apply for a payment of £3,000 for apprentices with an employment start date from 01 October 2021 to 31 January 2022 – applications will close on 15 May 2022.
You can use the funding for anything that supports your organisation’s costs for hiring an apprentice, e.g.: uniforms, travel or salary.
❗❗ You do not have to pay it back ❗❗
This payment is in addition to the existing £1,000 an employer will already get for taking an apprentice.
You will receive the payments in 2 equal instalments for each apprentice. To be eligible, your apprentice must complete:
- 90 days of the apprenticeship for their first payment
- 365 days of the apprenticeship for their second payment
40-Year Mortgage Deal
Specialist lender Kensington Mortgages has launched a 40-year fixed-rate mortgage which offers borrowers the chance to pay the same interest rate on their home loan for between 11 and 40 years.
It is available to borrowers with deposits of between 5% and 40% with interest rates for people fixing for between 36 and 40 years starting at 3.34%.
For more information, head over to www.kensingtonmortgages.co.uk
Help Musicians – Do It Differently Fund
The Do It Differently Fund by Help Musicians has developed a fund for musicians to focus on their creative portfolio, their business development and their health & wellbeing. You can apply for up to £3,000 to assist with the cost of creating a new body of work e.g.: session musician fees. recording. content creation etc. Awardees will also receive 1:1 business advice sessions and health consultations with BAPAM.
To apply, you must:
- Be over 18
- Be a UK resident
- Be in financial need and without significant backing
- Have control over one or more aspects of your career
- Already have an active career
- Deliver your supported activities within 12 months of accepting grant
Harlow College – Free Level 2 Courses
Harlow College is offering free online Level 2 Courses for a broad range of subjects to assist with professional or personal development. The courses typically take 6-10 weeks to complete. You can only study one course at a time but once you have completed one you are able to apply for another, up to a maximum of 4 courses for each academic year (August to July).
For more information, head over to the Harlow College website here
Financial Hardship Fund Extended
Help Musicians is extending the Coronavirus Financial Hardship Fund into 2022 after receiving £650k of hardship funding from ACE and DCMS. For those eligible, Help Musicians will offer a one-off payment of at least £250 though the amount offered depends on the financial information provided in the application.
To be eligible to apply for this route of funding, you must meet the following criteria:
- You are not eligible for Universal Credit
- You are a professional musician who earns 50% or more of your income from actively performing music, creating music or undertaking a role that requires a high level of musical skill
- You are self-employed or currently unemployed
- You are a UK resident
You are not eligible if:
- You are not a professional musician
- You are currently receiving case work support from Help Musicians’ Health and Welfare team
- You are currently in full-time higher or further education at Undergraduate level or below
- You have savings of more than £16,000
You will need the following to complete the form:
- Personal bank details
- Bank statement showing a full month of transactions that clearly shows your name, address, account number and sort code
- Evidence of your professional musician status
If you are receiving Universal Credit but are still struggling to make ends meet financially, you can read the new guidance here
To make an application, click here
Knowing how to take control of your business finances to maximise profits can be difficult, especially with the current climate. Knowing the common mistakes to avoid can be difficult and can leave you feeling unsure.
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