Torbay Enterprise Fund launched to support business growth in Torbay

Torbay Council have made £130,000 available to launch a new Enterprise Fund to support business growth in local start-ups and town centre businesses.

The Torbay Enterprise Fund offers two types of grants to support local businesses and high streets in Torbay, a Start-up grant and a Retail Unit Improvement grant. 

The Start-up grant is designed to help new start-ups in Torbay who are encountering difficulties with accessing start-up finance. The grants of up to £3,000 are available to new Torbay businesses and can provide support with eligible start-up costs such as websites, office space or marketing materials.   

The Retail Unit Improvement grant will help to enhance Torbay’s town centres by supporting existing independent businesses in designated town centre locations to make improvements to their shop fronts. The grants of up to £5,000 can be used for a variety of physical improvements such as refurbishments and signage.  

Councillor Chris Lewis, Deputy Leader and Cabinet Member for Place Development and Economic Growth at Torbay Council, said:  

“We’re always looking to develop new ways to support local businesses in Torbay and enable them to flourish and grow. The Torbay Enterprise Fund offers a fantastic opportunity for both new and existing local businesses to access the support they need to start up and thrive.  

“Applications for both grants are now open, and I would encourage any eligible local businesses or entrepreneurs to find out more by visiting our website.” 

More information about the Torbay Enterprise Fund, including eligibility, how to apply for the grants, and terms and conditions, can be found at: https://www.torbay.gov.uk/enterprise-fund.  

Applications will remain open until all of the funding has been allocated. They will be regularly reviewed and, providing that all of the relevant criteria have been met, grants will be allocated on an ongoing basis. 

Anyone interested in finding out more can also sign up to the September Bid Writing Club event, which is delivered through the Start-Up Torbay programme. The first part of the session will be hosted by Torbay Council Business Advisor, Kim Thornton, and will look at the Torbay Enterprise Fund. Space is limited, so early booking is advised. Find out more at: https://www.tickettailor.com/events/torbaycouncil/1821135.