Funding and Grants
There is a range of funding and grants available for businesses in Chesterfield and North Derbyshire. This page will keep you up to date with the latest grant and incentive schemes.
Chesterfield Accelerator
Chesterfield Accelerator is a business support project designed to help businesses at all stages of development across the area to sustain, grow and innovate, with an additional focus on decarbonisation.
The project which runs until 31 March 2025 is led by the East Midlands Chamber and is funded by the Government through the UK Shared Prosperity Fund (UKSPF).
Find out more about the funding and support available here.
Vision Derbyshire business start-up support scheme
In recognition of the economic impact the COVID-19 pandemic had across Derbyshire a new scheme has been launched to support those wanting to set up their own business in the county.
The Vision Derbyshire Business Start-Up and Business Support Grant Scheme is open to people who live in Derbyshire who are starting their own business, or have recently set up a business in the last year.
A team of local expert business advisors are in place to offer free advice and support and funding of up to £10,000 per applicant is also available. You’ll need to contact your allocated business adviser to access the grant support.
Networking opportunities and help in securing a wide range of services necessary to help entrepreneurs turn their venture into a success are also part of the support package on offer.
The scheme is particularly interested in helping entrepreneurs based in Derbyshire, as well as those aged between 17 and 30, or who are aged over 50 and who lost their jobs or livelihoods during COVID.
Find out more by visiting: Vision Derbyshire Business Support scheme – Derbyshire County Council
Haatch D2N2 Early Stage Angel Investment Fund
The Haatch D2N2 Early Stage Angel Investment Fund (or Haatch D2N2 ESAIF for short) is an £8m Fund created by Haatch and D2N2 LEP to invest in and fuel growth in Derbyshire and Nottinghamshire’s Startup Ecosystem.
The fund aims to stimulate investment and growth in ‘early stage’ companies – those that have been trading between six and 24 months.
D2N2 LEP/EMCCA are contributing £4 million to the fund, match-funded by ESAIF fund manager, Haatch. Over the longer term these funds will be re-invested in the programme, to catalyse investment and growth for more early-stage companies.
Find out how your company can pitch for investment funding at: https://haatch.com/investors/haatch-d2n2-esaif/
Midlands Engine Investment Fund II
The British Business Bank has launched its £400 million Midlands Engine Investment Fund II, unlocking additional funding to help smaller businesses in Derbyshire prosper and thrive.
The fund will drive sustainable economic growth by supporting new and growing businesses across the whole of the Midlands, through investment strategies that best meet the needs of these firms. It includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up, or stay ahead.
The new fund will help hundreds more businesses to achieve their potential and further increase the supply and diversity of early-stage finance by providing options to firms that might otherwise be unable to secure investment.
Funding is designed to help smaller businesses with activities including expansion, product or service innovation, new processes, skills development and capital equipment.
Find out more about the scheme: https://www.british-business-bank.co.uk/nations-and-regions-investment-funds/midlands-engine-investment-fund-ii-meif-ii/
Invest to grow – University of Derby
The Invest to Grow programme provides grants and loans of between £15,000 and £250,000 to support private-sector businesses across the East Midlands to innovate, grow and create jobs. The programme is now funded by the repayment of loans awarded to successful applicants.
For your project to qualify for Invest to Grow funding, you will need to demonstrate that it meets the following criteria:
- It will create new jobs or safeguard existing positions in your company
- It will increase the scope or scale of your company activity
- It will improve the company’s performance
- It has not commenced and will not be achievable in the timescales proposed without Invest to Grow support
More information is available on the project here.
British Business Bank
The British Business Bank may well be able to equip you with further ideas around possible funding choices and their impact on the enterprise. The organisation can also provide start-up businesses with funding to help bring your idea to life.
They can be found here https://www.british-business-bank.co.uk/finance-hub/
Business Finance Support Finder
The Business Finance Support Finder is an HM Government tool to help you access information about funding options in your area. You may also find the D2N2 website useful in identifying further potential routes to finance for your enterprisewww.d2n2growthhub.co.uk/access-to-finance
Apprenticeship Funding Opportunities
Employers who are looking to take on an apprentice can benefit from funding towards apprenticeship training. See the current apprenticeship funding opportunities available here: Apprenticeship Funding Opportunities – Destination Chesterfield | Destination Chesterfield.
Your accountant or financial advisor may also be able to advise you of funding and grants available to your business. If you are looking for support you can view our list of financial service businesses here.
