The Solent Local Enterprise Partnership (LEP) and X-Forces have launched a new grant fund to help members of the armed forces community start up a business in the Solent.
Bridging the Gap - Armed Forces is a bespoke fund for the Armed Forces community - service leavers, veterans, family members, spouses, reservists and cadets - and will support both new start-ups and established businesses with grants of between £5,000 - £75,000 to create jobs and secure investment.
The fund will be operated on a competitive basis and applicants will need to develop a business plan to access the capital funding and demonstrate how they can create or safeguard jobs. Funding from the Bridging the Gap - Armed Forces Fund will need to be match funded with additional investment into the business.
Who Can Apply?
Applicants to the fund must be members of the Armed Forces community. For clarity this includes:
- Service leavers
- Immediate family members;
- Cadets (over 18)
Applications are welcome all year and the next deadline for submissions can be found here.
Prospective applicants are advised to read the guidance documents to check whether they are eligible and if the grant programme can meet their needs.
Any business or entrepreneur seeking initial advice on their proposal can contact the Solent Growth Hub on 01329 820 898 to speak to a Navigator.