TIME is running out for small and fledgling businesses in Scotland’s coalfields to enter a £10,000 challenge to grow their enterprise and create additional jobs.

The Coalfields Regeneration Trust decided the time is right to move from helping entrepreneurs launch new businesses, to try and grow those already up and running.

The Coalfields Enterprise Programme offers awards of up to £10,000 to businesses that come up with new product ideas, or produce a business plan to meet local demand for goods or services. But the closing date to apply is this Friday, September 5.

To be eligible the enterprise must have been trading for at least two years and be either a registered charity or not for profit organisation. Longer established businesses may apply, but priority will be given to smaller enterprises with modest turnovers. Funding will be available for both capital and revenue expenditure.

Nicky Wilson, Vice Chair and Scottish Trustee of the Coalfields Regeneration Trust said: “This is a really exciting development for the Trust and it takes us into new territory.

“For the last few years we have concentrated on trying to help budding entrepreneurs launch new businesses. That helped establish enterprises like Netherthird Community Action Training and other firms get off the ground.

“Now we feel there is a real need to support new businesses in the post-launch period, when they are often at their most vulnerable and can find it really hard to access funding to take their businesses to the next level”.

The Coalfields Enterprise Programme is designed to give existing businesses the help they need to scale up their operation. It will include business support as well as an award of up to £10,000.

Following the September 5 deadline, applicants will be visited for a short interview in later in the month. Successful candidates will be invited to prepare a detailed business case, to be submitted by early December then second interviews will take place at the start of January.

A judging panel will consider the applications and the awards will be made by the end of January 2015.

To discuss your project’s eligibility and apply for an expression of interest form, contact David Wright on 01259 272127 or 07989 355934. Email: david.wright@coalfields-regen.org.uk.