Source: https://tendernation.io/opportunities/01a13c0e-d6a4-735c-bd02-4aaaaf00121c/dr5181-action-for-new-enterprise-grant-scheme closed GB open procedure Suitable for SMEs # DR5181 Action for New Enterprise - Grant Scheme [London Borough of Tower Hamlets](https://tendernation.io/buyers/london-borough-of-tower-hamlets) Pays 92% within 30 days Estimated value £60,000 to £100,000 Published 9 Feb 2017 Deadline Closed 6 Mar 2017 ## Who can bid - Buyer says suitable for SMEs The buyer ticked “suitable for SMEs” on the notice. Anyone can still bid. - Buyer says suitable for VCSEs The buyer ticked “suitable for voluntary, community and social enterprises” on the notice. - Small contract value Valued under £135,018 including VAT, the lowest Procurement Act threshold for goods and services. - Open procedure Anyone can submit a full tender; there is no shortlisting stage. [More contracts for small businesses and VCSEs](https://tendernation.io/opportunities/for-small-businesses) ## About this tender The London Borough of Tower Hamlets are seeking to appoint an experienced organisation for the management and implementation of a scheme (Contract Two: Action for New Enterprise: New Entrepreneurs Grant Initiative) to give grant support to new entrepreneurs. (Please note the funding for this contract is already in place). Action for New Enterprise Grant Scheme is the second part of a two part project contract. The First part (Contract One: Action for New Enterprise; New Entrepreneur Training Initiative) which provides a structured enterprise training programme for Tower Hamlets Residents was successfully awarded in August 2016, To London Small Business Centre following the London Borough of Tower Hamlets Procurement process. This procurement exercise relates only to Contract Two, The New Entrepreneur Grants Initiative. This grant provision project will be for a minimum of 300 individuals who are bona fide residents of the London Borough of Tower Hamlets and who would have successfully completed the training as provided within Contract One. Main objective of the project: The main aim of the Action for New Enterprise project, which consists of activities delivered under both Contract One (The New Entrepreneur Training Initiative) and Contract Two (The New Entrepreneur Grants Initiative, is to create an opportunity for people and organisations located in Tower Hamlets to develop an entrepreneurial capacity which will lead them to business success. Achieving this objective will create employment and economic prosperity in the borough. This will be brought about by equipping new entrepreneurs with the necessary skills, experience and opportunities for successful business ventures. Whilst activities under Contract One will develop the entrepreneurs' business ideas, under Contract Two the enterprises created will be provided with grant funding - up to £5,000 in each case - to support the development, growth and sustainability of the business. Such grant funding will only be allocated in each case following rigorous checks relating to the prospective recipient, and a full assessment of the viability of the business activities proposed. It will be a pre-condition of grant funding under Contract Two that the prospective recipient will have previously have received the training provided under Contract One. The assessment of prospective grant recipients under Contract Two will provide an incentive for them to receive training under Contract One. The anticipated contract start date is: Monday, 27 March 2017 The estimated value of the contract is: Up to £100,000 Total Cost For a period of: 24 Months Read full description ## CPV classification Administration, defence and social security services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/58acc07c-d8c0-4cb3-a00f-cf819259de6a) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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