Grant Programme Launched for Aspiring North Yorkshire Social Enterprises

Give us a brief overview of your business idea. What will you be selling? How will you sell it? Why is it a good idea?

It’s important to know who you aim to target, and to check they exist and will want what you’re selling. In this section, tell us about your ideal customer. How old are they? What do they do for a living? Why do they need your product?

This could be at home, online, or in a customer-facing location

How will you market your business? Will it be via social media and website? Maybe flyers and posters? Or word of mouth

Exclusions

We would not accept applications from the following:

• Charities or established businesses
• Previous year’s turnover of more than £20,000
• Employ more than 5 staff
• Requires additional funding to test their idea above the £500

What will you be selling? How much will you charge for you product / service?

Do you need a computer? Some equipment/tools? Insurances? Company Formation etc?

In a nutshell, profit is what’s left over once all of your bills have been paid. For example, if I set up a coffee shop and it cost me £1 to make a coffee (beans, cups, utility, staff, rent etc.) and I sold it for £2, I would therefore make £1 profit per cup of coffee. I would expect to sell 200 cups of coffee a day, meaning my profit margin is £200 per day. Assuming you worked 5 days a week for 48 weeks of the year (we all need a holiday, right?!) you’d have a profit margin of £48,000.

Your grant can be spent on any out of pocket expense. This could be equipment or tools that you need to get started. Or it could be professional costs like accountancy, legal etc. It could be branded clothing, or other marketing materials like flyers, for example.

Some ideas might just be stuck in your brain. Some you might have tried out before. Let us know if you have

If yes, why didn’t it work?

There’s so many reasons your first business venture doesn’t work. If you’ve tried and it didn’t work, let us know what you think went wrong.

the best ideas exploit a gap in a market. Is anyone else doing this in your community?

If yes, how is yours different? 

Somebody else doing this isn’t necessarily a problem. But to succeed, you’ll need to make sure your idea is unique. So what are you differently to what’s already out there? It could be price point, available hours, target customers etc.

Tell us why you’re the right person to make this idea reality.

If your idea sounds good, we would like to meet you and find out more. Don’t worry, this isn’t a gilling or Dragon’s Den type pitch. It’ll be a small meeting with a few hyve staff to find out more about you and your idea.

If no, tell us why and what alternatives would work for you

Not everyone is comfortable / available to meet us – we get that. Talk to us about it and we’ll find a way to ensure we can support your idea.

There’s so many things to be scared of when starting up your own business. From money, to time, to worrying nobody will buy from you. Tell us what scares you most so we can help you overcome those fears.

OK, enough gloom. You’re applying for this because you’re excited about your idea. Tell us what excites you. This will be infectious and ensure we can keep fanning those flames.

Most people lack the time, money, or opportunity to set up their own business. Why haven’t you done this already?

We are looking for businesses with social purpose. How could your idea benefit a local community facing vulnerability, isolation or exclusion? If you’re not sure at this stage don’t worry – we can work with you on this bit.