PESCA Business Development Fund

Who can apply?

The Fund is available to viable new or developing businesses, including sole traders, partnerships, co-operatives, social enterprises and limited companies.

The business needs to demonstrate a link to the fish industry which could include:

	Active or start up business catching, processing or wholesaling fish
	Fish products make up the majority of the sales for the business or their expansion plans
	Businesses are being started by ex-employees of the fishing industry or their families

Allowable Expenditure

Under the scheme, the following expenditure is allowable:

	Capital equipment
	Marketing costs
	Costs of consultancy
	Costs of services eg computer equipment
	Purchase or adaptation of buildings

Assistance

	Sums up to £20,000 are available for amounts equivalent to a maximum of 60% of the total project cost
	Flexible repayment period up to 5 years
	Finance is repayable with no interest charge
	There is a one-off administration fee of 5% of the finance claimed
	Finance paid up front on approval

Businesses must demonstrate that they are unable to raise sufficient bank finance.

Sectors not eligible for this assistance include retail and non-fisheries related business.

The scheme will not fund fishing vessels or investment that increases fishing effort.

For further details, the PESCA BDF Leaflet, or an application form, click on the link below:

PESCA Business Development Fund – Guidance Notes PESCA Business Development Fund – Application Form PESCA Business Development Fund – Leaflet