Crowdfund Dorset Business
Get up to £5,000
Crowdfund Dorset Business provides opportunities for existing micro and small businesses seeking to cope in challenging trading conditions as a result of the COVID-19 pandemic.
You need a crowdfunding project to apply for funding. Start or continue adding your project and, if eligible, you'll be prompted to apply.
Criteria
In order to apply under Dorset LEPs Crowdfund Dorset Business fund, every applicant must:- Be located in Dorset.
- Qualify as a micro or small business (Social Enterprises, Community Interest Companies and charities engaged in economic activity are also eligible) as per the EU Definition available here.
- Be an existing business - if they are freelance or self-employed, they will need to evidence that they have been operating for at least 12 months.
- Demonstrate that they have been adversely affected by COVID-19.
- Clearly explain how, with the help of LEP funding, their business will deliver direct economic benefit within the Dorset area.
- Deliver their project between May 2020 and 31 March 2021 (Project timings are dependent upon general COVID-19 guidance from Government, which will be kept under review by Dorset LEP). Please also note that any costs incurred prior to the submission of an application are sunk costs and cannot be included in the total project costs.
- Incur any project costs directly, and not via subsidiaries or related companies / organisations.
- Demonstrate through the application and supporting information that they have the resources, expertise and ability to carry out the project within the timescales.
- Achieve 25% of the funding target, which must have come from at least 10 unique backers, to trigger the LEP funding pledge.
Funding support of up to 50% can be applied for up to a maximum £5,000 pledge, depending upon the size of the business. Projects must go on to achieve the total project target (100%) to draw down any pledge made.
Pledges from Dorset LEP’s Crowdfund Dorset Business fund will only be made where they are compatible with State Aid legislation. These funds are being offered as de minimis aid, and any businesses supported will need to confirm that they have not been in receipt of other de minimis aid that would result in their business exceeding the EU threshold of €200,000 over a rolling three-year period.