Portsmouth Match Fund to support Businesses (UK)

This grant along with business support from the council and partners is designed to help new business startups and existing small businesses to grow.

Funding Information         

• The fund offers between 20-50% (minimum amount of £1,500 and maximum amount of £4,000) towards a growth or start up project. Ideal business development costs could fund a new digital platform, e commerce development, development of a new product, purchase of new equipment or training.
• This match-funding scheme cannot be used to fund:
  • More than 10% of the capital costs of the total value of the project for the purchase of land, building/refurbishment or building projects.
  • Existing operational costs of the business such as:
    • Replenishment of stock
    • Replenishment of ingredients
    • Rent
    • Insurance
    • Subscriptions
  • Costs which is purely research.
  • Costs for ongoing staff – including salaries of permanent or fixed term staff.
  • Costs incurred in putting the application together.
  • Political or religious activities.
  • Repairs and maintenance to building or equipment.
  • VAT that can be recovered by the business.
  • Loans or interest payments
  • Purchase of alcohol or illegal substance.

Eligibility Criteria

• In order to apply and receive this match-funding through the Portsmouth Match Fund, every applicant must:
  • Qualify as a micro or small business.
  • Be located in Portsmouth within post code areas PO1 to PO6.
  • Not be in administration, be insolvent or where a striking-off notice has been made.
  • Have a UK bank account.
  • Must be able to provide a sound business plan.
  • Confirm that applicant has their remaining % towards to the project.

Ineligibility Criteria

• Businesses will not be eligible to apply for support from this fund if:
  • The business has already received support through the Portsmouth Match Fund and Crowdfunder, Small Business Fund.
  • The business has already received support from Portsmouth City Council for a project which is still live (i.e. has funds already drawn down, or contracted outputs yet to be delivered or have yet to be complete and submit a satisfactory evaluation form).
  • The spending has already taken place.
  • The applicant is an individual, not a registered business.

For more information, visit Portsmouth City Council.