Application details

LAUNCHBOX applications

Dear Launchbox applicant,

The Launchbox is a dedicated fund of around £30,000 per year to support local self-employed people to become more successful.

Eligible to apply

  • Micro businesses (less than five employees), sole traders, trades people, self-employed, freelancers
  • Living/work in Penwith area
  • Established (more than one year trading)
  • Seeking funding to create a new product/service or outlet
  • Willing to repay the loan when new initiative succeeds
  • Start-up funding (eg to set up a limited company or launch a separate new business) may be considered where the applicant has a proven track working for themselves

Not eligible

  • Start up businesses where the applicant has no experience in running one (these are best referred to Outset for advice and funding)
  • Applications by established companies with five or more staff
  • An application by someone living/working outside the former Penwith area
  • Any applicant unwilling to repay the loan

How to apply

Please email us your proposal. We will respect this as confidential and protect all personal data but will ask for our simple terms and conditions to be agreed before accepting an application.

The proposal should be on no more than three pages and should include information under all the following headings:

Summary

A simple paragraph or bullet points to explain what it is you want funding to do

Breakdown of how money will be used

Detail of activities/purchases that will be made with the funding

Projections

A minimum three year projection (chart/table or spreadsheet) showing how our investment will help you succeed

The opportunity

Why and how you think your business proposal will succeed

Experience

Some details of what you do now and have done to date in business to demonstrate suitability for funding

Risks

The challenges you face and what you are going to do to meet them

Amount sought

This can be between £1,000 and £5,000. Smaller amounts requested within this range are more likely to be approved as budgets are strictly limited at each panel.

How you want to repay

Give us your initial proposals on how you will repay the amount so we can reinvest in others’ proposals later. For example a set amount a month (and length of time), a % of income or turnover, a % of a ltd company shares. We will consider this and come back with an offer if your application meets our criteria. We are willing to accept zero interest but will look favourably on those offering interest

About you

Where you live, your personal background (see details of who we are particularly keen to support)

Advice and help

Finally please tell us what kind of expert advice you would value as part of this process. If you make it to the panel, the experts you meet will try to give you feedback on the things you specify in your application on the day. We may also refer you to others who may be able to help you or provide additional/alternative funding

Business plan

We don’t require a formal business plan. However if you have one we’d be pleased to see it. Example templates for business plans can be found at www.princes-trust.org.uk

APPLY

To ask for an application form please email us or call 01736 333073