Grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers. Additionally, grants can also support you to diversify your business to respond to opportunities created by the crises.

If your business has been affected by Coronavirus but you are starting to open up again and need support to help you to do this, or perhaps to sustain your business through any ongoing reduced trading levels, this could be a great potential use of the grant.

Eligibility

To be eligible to apply:

  • You must be a business owner aged 18 to 30
  • You have set up your business in the last four years
  • You currently don't have enough income to sustain your business.

If you set up your business with support from The Prince’s Trust in the last four years, you are still eligible for the fund if you were aged 18-30 at the time you received this support.

You can download an Information Pack for the Enterprise Relief Fund below. This pack contains all the information you need to understand if you are eligible to apply for a grant, how the grants can be used and how the application process works.

Download Information Pack (pdf, 539kb)

How do I apply for a grant?

Read the Information Pack to find out how the grants can be used and check that you are eligible for a grant. If you are eligible and would like to continue with the application process, you will then need to take the following steps:

Complete and email the documents below to princestrust@custhelp.com

We understand how long it can take to complete these documents, but don’t let that put you off! Even if you’re not sure about all of it, please submit what you do know and we can guide you through the rest.

  1. Completed application form: provide as much information as you can about your business and why you need the grant funding (we’ll use this information to assess your application).
    You can download the application form below. We recommend you open the application form in Adobe Acrobat PDF reader. However, if you have any problems opening or completing the form in Acrobat, you can complete a Microsoft Word version of the application form instead. Download PDF Application Pack (pdf, 629kb)  Download Word Application Pack (docx, 624kb)


  2. Completed current cashflow forecast (we will use the cashflow to understand how your business has been affected by the crises).Your cashflow forecast should show:

    • A 12 month cashflow - 6 months pre-covid (October 2019-March 2020) and 6-months post-covid (June 2020 - November 2020)

    You can download a template cashflow below. You don’t have to use this template, but if you use your own template please make sure your cashflow matches the dates provided above.  Download Cashflow Template (xls, 48kb)


  3. Completed personal survival budget

    This should be:

    • For the next month, based on your current situation.

    Grants can’t be used to fund personal costs. However, we will use your personal survival budget to help us understand your current situation.

  4. Proof of Trading

    This should be:

    • If you are registered as self-employed; Unique Tax Reference (UTR) from HMRC Gateway Portal and a screenshot detailing years of tax returns submitted
    • If you are a limited company, we have asked you to include your company registration number in your application form

  5. 3 months business or personal bank statements (for the account from which business transaction come from)

    Statements must cover:

    • The previous 3 consecutive months from the date you submit your application

Online profile form

You also need to complete our online profile form for your area which you can access below: 

The information collected in this form helps us to understand any support needs you might have, as well enabling us to monitor who we are helping through the Fund.

What's next?

Once you’ve sent your completed application to us, we’ll be in touch to confirm it’s been received. A member of our team will then aim to contact you within two weeks to let you know if your application has been successful and the amount of funding you will receive.

Need extra support?

Our advisers are on-hand to provide extra support

If you have any questions or need support with your application, you can get in touch with us on 0800 842 842 (free from landline) or via webchat here.