Cash offered to fund premises for new businesses

Cash offered to fund premises for new businesses

The Business Development Unit at the University of Derby has secured funds to be able to offer grants for office or studio space to unemployed people wanting to start up their own business.   

Grants of up to £2,000 are available for subsidised or free office space at any of the University’s Business Incubator sites; Banks’ Mill for creative businesses, Network House for digital media and The iD Centre for technology, rail and aerospace industries. 

Business incubation offers much more than premises.   The Incubation programme is designed to nurture the successful development of companies through business support resources and services.  Research has shown that successful completion of an incubation programme increases the likelihood of a start-up company staying in business. 

The project is designed to offer unemployed people, recent graduates or people that have been made redundant or are at risk of redundancy the opportunity to start their own business by providing office or studio premises free or at an affordable rate.  The grants are available from June 2009 until September 2010. 

The centres are located close to the city centre.  Banks’ Mill is on Bridge Street in Derbys’ West End, 5 minutes walk from the city centre and the iD Centre is on the rtc Business Park, London Road and is close to the train station and Pride Park. 

Louise Jones, Business Incubation Manager at the University said: ”Evidence has shown that in the current economic climate more people are considering starting their own business, we want to offer assistance to individuals to realise those plans.”  Being part of a supportive incubation environment will offer opportunities for people to do this.  We hope to see several established businesses in the near future.’

Applying for the grants is a straight forward process, there is one form to fill in and if people meet the requirements there will be an informal interview. 

For more information or to apply get in touch with Louise Jones 01332 594173 for Banks’ Mill and Network House or Alan Rutherford 01332 258834 for the iD Centre.