Oldham Enterprise Trust (OET)
Oldham Enterprise Programme (the Programme)
Programme Eligibility and Terms & Conditions (from 6/1/21)
1. The Objectives
To encourage, develop and promote business growth across the Metropolitan Borough of Oldham:
a) Supporting Business Start-Up & Growth.
b) Supporting the ‘Get Oldham Working’ campaign through enterprise business support and Programming by creating and sustaining jobs.
c) To stimulate enterprise and entrepreneurial activity in Oldham.
d) To advise and support applicants and, where appropriate, award a grant, and/or signpost to loan Programming via the Government’s Start Up Loan Scheme or other funding sources.
2. Eligibility (SME Businesses: Start-Up and Growth)
a) Applicants must be aged 16-years or over.
b) By completing the application form you are agreeing to us sharing your information with our partner organisations.
c) Small grants of up to £1,000 are generally available to those under 30 years of age
d) Loans are available via the Government’s Start Up Loan Scheme to those over 18 years of age.
e) Stoller Trust Programming will be prioritised to start ups applicants aged under 30 years of age
f) Start-ups aged 18 and over who require more than £1,000 in funding will be referred to the Government’s Start Up Loan Scheme
g) Start-ups are defined as businesses trading for less than 2 years
h) Existing businesses (trading more than 2years) will be referred through to the Business Growth Hub and GC Business Finance for access to free business support and other sources of funding.
i) Grant applicants must be a resident of Oldham Metropolitan Borough Council
j) Applicants are eligible for one Grant award only.
k) Anyone meeting the eligibility criteria above for Grant funding at the time of application can apply for the fund if the Assessment Panel is within 12 months of the date of application.
l) Applicants must have the legal right to remain in the UK and the right to be self-employed.
m) Grants and Loans are for business use only.
3. Format of the Programme
The applicant must be a resident of Oldham Metropolitan Borough.
a) All entrants must submit the Programme’s Application Form’ (available electronically through the enquiry process as listed at: www.oldhamenterprisetrust.org.uk or by Word copy which is available upon request.)
b) All documentation must be completed fully by the applicant(s).
c) Applications will be initially assessed.
d) Grant eligible applicants will be required to access a free programme of business support from either the Princes Trust or the Oldham College **.
e) Applicants, who are eligible for support via the Stoller Funding (see points 2a, and 2b,) will present (or pitch) to, and be interviewed by, an assessment panel. More detailed feedback will be given to all applicants at this stage.
f) If successful at the Assessment Panel, applicants are required to engage with marketing activities and further free business support activities.
**All applicants will be offered a free business support programme by either The Princes Trust, The Business Growth Hub, or The Oldham College. By completing the application form you are agreeing to us sharing your information with our partner organisations.
Engagement with these business support processes (if satisfactory to criteria) is compulsory for those Start-up applicants aged 16 to 30 years of age. This process will begin after the receipt of the application form (along with further qualifying details, if necessary).
4. Assessment (Grant eligible applicants only)
As guidance, the assessment will be both looking for and assessing details covering the following:
a) A business idea with the best potential to start-up a new enterprise or the further development of an existing business that has been trading for less than 2 years.
b) Job creation potential, through the business idea, for Oldham residents particularly for those under 26 years of age.
c) Is it a credible market opportunity?
d) That there is a realistic approach to carry-out the business idea and that there has been some thought given to commercialisation routes and strategies.
e) That ethical issues, environmental and social impact have been considered.
f) Evidence that intellectual property issues have been considered? What would be the potential effects on the business idea for intellectual property owned by others?
g) What are the personal qualities of the applicants and the degree of drive and initiative they display in their proposals?
h) The Credit Worthiness of the business owners
The Assessment panel Format (Grant eligible applicants only)
- Applicants will
- Pitch their business idea and plan
- Answer questions from the Assessment Panel members
- The presentation and interview will last around 30 minutes (15-minutes for the presentation/pitch followed by 15-minutes for questions/discussion from a panel of assessors).
- The Assessment Panel will be drawn from:
- Oldham Enterprise Trust trustees
- Business Support Agencies
- Experienced business people as appropriate
- The Assessment Decision is final and no correspondence regarding the judging of entries can be entered into, nor appeals made.
- All entries will be treated as strictly confidential.
Application Terms & Conditions:
- A clear and well written structure to the submitted entry form in plain English (the fonts of Arial, Calibri or Tahoma in font size 10 can be used).
- Entry forms can be submitted electronically, by post or by hand. Receipt is the responsibility of the applicant. No responsibility can be taken by Oldham Enterprise Trust, The Princes Trust, the Business Growth Hub, GC Business Finance, The Oldham College or any partnering organisation working in unison to support the Oldham Enterprise Trust, for lost documentation or documentation not received.
- Faxed copies will NOT be accepted.
- Successful Grant applicants must be prepared to engage with the Programme administrators in reporting progress of their business and engaging with business support services, supporting Get Oldham Working on a quarterly basis.
- Grant applicants are required to engage with the support process provided by the Princes Trust or The Oldham College
- Successful Grant applicants will be required to engage with further appropriate business support services as directed by the Assessment Panel.
- Entries must be submitted on the official application form.
- Any Funding award must be used for the purpose(s) set out in the application.
- The Grant Funding award must be drawn down within 3 months or the offer is deemed to have lapsed.
- The business should be legitimate and legal with the intention to fulfil all appropriate statutory and legal requirements.
- Grant eligible applicants must be able to attend one of the assessment panels to pitch their idea to the Judges/Assessors.
- Successful Grant applicants must be available for PR and marketing activities as required.
- There are a range of other finance packages and Programmes that can also be applied for, if necessary (subject to criteria and application).