'Be the Boss' is a service from the Royal British Legion with Poppyscotland. It is aimed at supporting UK service leavers to plan, fund and grow their own small businesses.
Funded by the UK Department for Business, Innovation and Skills, the Legion and its partner organisations offers:
The programme is open to anyone who left active service in the UK Armed Forces and intends to start up or grow a small business in the UK.
The scheme is open to fomer members of HM Armed Forces (including members of the Reserve Forces).
This includes former Reservists who were on mobilised service in accordance with the Reserve Forces Act 1996.
Applicants must be legally resident in the UK, register their business in the UK and meet additional eligibility criteria.
Existing businesses seeking funding must have been trading for no more than two years.
Residents or businesses outside the UK are not eligible.
Our Loan Funds are likely to provide finance for any purpose related to developing a sound business:
- Refinancing of existing debt is only permitted where existing commercial finance is being withdrawn or where the purpose of refinancing is to improve the cash flow of the borrower
- Some purposes will not be considered sound for a business, including but not exclusively, purchase of a vehicle (unless an integral part of the business), funding for trips abroad, funding for research, product development or some forms of training.
- The Fund will not provide loans for political purposes or any activity which may bring the Fund into disrepute, such as pornography, gambling etc..
In addition, ineligible businesses are those whose principal activities include:
- dealing in land
- futures or securities
- money lending
- debt factoring
- hire purchase financing
- other financial activities
- the performane of road transport for hire or reward
- primary production of agricultural produts or in the processing and marketing of agricultural products
- coal sector.
Type of grants
Funding for successful 'Be the Boss' applicants will be based upon their business or growth plan and financial forecast, as well as the type and status of their business ('start up' versus 'established').
Funding will be provided in £500 increments, where 25% of the total is a grant, and the remainder 75% is a loan.
- New businesses with low to moderate start up costs (documented by their business plan) will be initially eligible fore 'Access' funding (£4,000 and below)
- New businesses with moderate to high start up costs will be initially eligible for 'Aspire' funding (£7,500 and below)
- Existing businesses (trading between 13-24 months) will be eligible for 'Accelerate' funding (up to £30,000).
Applicants should first register on the Legion's employment and training portal - www.civvystreet.org - and then select https://www.civvystreet.org/betheboss/ for more information and to access the online application form.
'Be the Boss' is an online service and as such we only accept electronic applications.
The Legion will continue to provide a central point of contact for service leavers, their families and dependents who may not be eligible for assistance under the 'Be the Boss' scheme. This includes direct grants from the Legion and referral to other agencies and programmes that may be able to provide assistance, advice and funding for enterprise.
Please visit www.britishlegion.org.uk for further information.
Grant provided by: Be the Boss Scheme (Royal British Legion)
Be the Boss is a service from the Royal British Legion with Poppyscotland aimed at supporting UK Service Leavers to plan, fund and grow their own businesses.
199 Borough High Street