Decision

To launch a Start Up Grant for the total value
of £20,000 + £3,000 administration fee that will cover
the following:
- UKSPF Business Lincolnshire Start Up Grant 2025-26
(£20,000) up to £500 maximum per business at 50%
intervention rate.

Reasons for the decision

This funding is vital to support the continued
development of North Lincolnshire's entrepreneurial ecosystem. A
dedicated start-up grant scheme will deliver measurable economic
benefits including:
- Supporting individuals to transition into self-employment
- Creating new businesses and safeguarding jobs
- Enhancing access to finance for underrepresented
entrepreneurs

The grant programme builds on the success of the past two years,
where over 100 businesses were supported through the North
Lincolnshire Start-Up Academy. This proposal aligns with Priority
Three of the North Lincolnshire Economic Growth Plan 2023-2028,
which focuses on increasing business start-ups and maintaining high
levels of survival. It also supports the UK Shared Prosperity
Fund's commitment to inclusive local growth.

Alternative options considered

To not proceed with the Business Lincolnshire
Start Up Grant programme.

Rejecting the funding proposal would remove a proven and effective
route to supporting new enterprise in North Lincolnshire. It would
limit access to financial support for new businesses and could
discourage entrepreneurship across North Lincolnshire. This
approach does not align with the council's economic objectives and
would underutilise the potential of regional collaboration through
the Business Lincolnshire shared service.