Starting your own venture brings excitement, certainly, but challenges will appear along the way. Here’s the good news: proper preparation and smart research can set you up for the best chance of success while helping you sidestep common mistakes.
The county is backing businesses like never before. Take the Transport Hub Scheme, which is reshaping Lincoln’s city centre with a cutting-edge bus station, 1,000-space multi-storey car park, retail space and pedestrian plaza. This investment signals serious commitment to business growth.
What support can you expect? Business Lincolnshire offers government funded assistance to help new ventures take their first steps. Their programme covers what you need to know about building a thriving business from scratch.
Money matters, and the UK government understands this. Their special entrepreneur scheme provides Government-backed loans up to £25,000 with repayment terms from 1-5 years.
Have you considered what makes Lincolnshire businesses succeed? Understanding the regional market, tapping into support networks, building the right team, and connecting with your local community all play roles.
We’ll explore each of these essential elements together. This guide will walk you through what you might need to establish and grow your business in Lincoln.
Understanding Lincolnshire’s Market and Business Landscape
Picture Lincolnshire’s economy as a well-diversified investment portfolio and offers multiple sectors where your business can find its perfect fit.
Key industries and economic sectors
It seems four major pillars support Lincolnshire’s economic foundation: agrifood, tourism, logistics and manufacturing . Each represents substantial opportunity for ambitious entrepreneurs.
Business Lincolnshire states tourism alone pumps over £2bn into the local economy while creating approximately 30,000 full-time equivalent jobs across Greater Lincolnshire. Manufacturing proves equally impressive with 66,000 people earning their living in this sector, generating enough income to equate to around 20% of Greater Lincolnshire’s total economic value.
Small businesses drive this success story. Lincolnshire County Council estimated over 40,000 small and medium-sized enterprises (SMEs) call Lincolnshire home.
Business trends in Lincolnshire
The numbers tell an exciting story. 2023 delivered its highest new business formations, pushing the total registered companies to over 50,000 and Rural Lincolnshire’s business landscape centres on five key sectors: Agriculture, Forestry and Fishing; Construction; Professional, Scientific and Technical services; Transport & Storage; and Retail.
Opportunities in rural and urban areas
Investment opportunities abound across Greater Lincolnshire. Money is flowing into agri-tech and food, clean energy, ports and logistics, defence, and advanced manufacturing. The A1 corridor experiences unprecedented demand for serviced employment land.
Town deals worth over £130m are reshaping six major locations: Boston, Lincoln, Mablethorpe, Scunthorpe, Skegness, and Grimsby. These investments create ripple effects of opportunity for forward-thinking businesses.
Challenges new businesses may face
Every business environment presents hurdles, and Lincolnshire is no exception. Rural geography means longer travel distances and higher transport costs and the county lacks enough motorway networks and digital connectivity poses ongoing challenges in certain areas.
Recent data reveals economic pressure points. Financial distress affected 1,900 Lincolnshire businesses in Q4 2024, marking an increase from the previous year. Construction companies seem to face particular strain, with an increasing year on year number of business businesses experiencing difficulties..
Understanding these realities helps you plan accordingly. Smart preparation addresses challenges before they become roadblocks.
Accessing Local Support and Funding
You’re not alone in this journey. Lincolnshire offers an impressive network of support designed specifically to help entrepreneurs like you succeed.
Business Lincolnshire and local growth hubs
This organisation stands ready to help entrepreneurs and established businesses across Greater Lincolnshire with a team of fully funded advisers who understand your unique challenges.
What can you expect? Personalised support tailored to your specific needs. Book a telephone or face-to-face appointment with a dedicated growth hub adviser who’ll connect you with the right resources and networks. Need immediate guidance? Ring their Business Support Helpline on 01522 782067 – they’re available Monday to Friday, 8:00am-6:00pm, offering impartial advice to local businesses.
Grants and funding schemes available
Money talks, and Lincolnshire listens. Several funding opportunities exist specifically for local businesses:
The Grants4Growth scheme has £1.85 million available for SMEs with grants reaching up to £24,999 available to cover up to 50% of purchases – depending on your business structure and eligible costs.
Don’t waste time searching blindly. The Business Lincolnshire website features a Grant and Support Finder tool that lists all available funding options in one place.
Start Up Loans and government-backed finance
Remember those government loans we mentioned earlier? The UK government’s Start Up Loans scheme provides unsecured loans up to £25,000 at a fixed interest rate, repayable over 1-5 years.
Alternative loans are available for enterprises operating over 3 years with the additional value lies in the 12 months of free mentoring support that comes with every loan.
Support from local councils and enterprise centres
Your local council wants to see you succeed. Each authority across Lincolnshire offers targeted business support services that can make a real difference to your venture.
West Lindsey District Council provides access to dedicated business advisers. City of Lincoln Council goes further, delivering free one-to-one diagnostic and mentoring support alongside information on grants and fully funded sectoral programmes.
How to prepare for funding applications
Success starts with preparation. Follow these five essential steps when applying for funding:
- Develop a comprehensive business plan – Include your clear vision and detailed financial projections
- Conduct thorough market research – Demonstrate you understand your target customers inside and out
- Maintain organised financial records – Keep all relevant documentation properly filed and accessible
- Clearly articulate outcomes – Explain how funding will drive business growth, create jobs, or benefit the community
- Seek feedback before submission – Have experienced advisers review your application first
Your funding application represents your business’s future. Take the time to get it right.
Building a Team: Skills, Talent & Recruitment
Your business idea means nothing without the right people to execute it. Building an effective team can make or break your venture, but Lincolnshire offers exceptional resources to help you find and develop the talent you need.
Access to graduates and apprenticeships
Apprenticeships represent one of your strongest recruitment strategies.
You can tap into apprenticeships across diverse fields including business administration, customer services, data, digital, finance, highways, leadership, legal, and many others.
These programmes typically take one to five years to complete depending on the level being studied and Government funding helps pay for apprenticeship training and assessment
Working with local colleges and universities
The county boasts two universities, seven further education colleges and two University Technical Colleges. Major employers are already using this resource: the University of Lincoln has partnered with industry giants like Coca-Cola and Nestlé to fulfil their training needs.
The Greater Lincolnshire LEP actively connects local businesses with schools and colleges, ensuring young people understand the labour market and potential job opportunities. Agrifood businesses receive special attention. £2.5 million in devolution grants has been allocated to six educational bodies to build skills training infrastructure. These institutions include Riseholme College, DN Colleges Group, Boston College, Lincoln College, and specialised institutes at the University of Lincoln.
Recruitment support from local job centres
Don’t overlook Job Centre Plus when building your team. They offer valuable recruitment services including advice, support with vacancies, and help setting up work trials. You can access guidance about offering work experience and apprenticeships through the sector-based work academy programme.
The Way to Work initiative connects businesses with job-ready candidates, helping fill vacancies efficiently. This service essentially pre-screens candidates for you, saving time and resources during your recruitment process.
Understanding employment law and contracts
Get this right from day one. Well drafted employment contracts and policies are key for avoiding related problems. Lincolnshire offers access to specialised employment law services covering contracts, policies, dispute resolution, and TUPE applications.
Legal experts can review current policies, procedures, and contracts to ensure legal compliance and business protection. Though not legally required, create a staff handbook with policies and procedures – it’s highly recommended, with disciplinary and grievance procedures referenced within employment contracts.
Remember: investing in proper legal documentation now prevents costly disputes later.
Local Marketing, Community Engagement & Sustainability
Lincolnshire’s business landscape presents great opportunities for promotion, but you’ll need the right strategy to help your business grow.
Promoting your business in Lincolnshire
Your promotional toolkit in Lincolnshire is more extensive than you might expect. Lincoln BIG connects you with over 20,000 people across their social media platforms, that’s immediate access to potential customers right in your backyard.
Want to make a splash with events? Lincoln City Centre offers prime advertising banner spots at Upper High Street, Guildhall Street, and Silver Street. These locations put your message where foot traffic flows naturally.
Don’t overlook Business Lincolnshire’s website either. Their marketing guidance covers everything from strategy basics to social media mastery. It’s like having a marketing consultant at your fingertips.
Using local networks and events
Networking isn’t just about collecting business cards – it’s about building relationships that fuel growth. Lincolnshire makes this easier through regular business events hosted by Business Lincolnshire and the Lincolnshire Chamber of Commerce.
Destination Lincolnshire takes collaboration seriously. They support local businesses through joint marketing campaigns and actively seek feedback via surveys and questionnaires. This partnership approach amplifies your marketing reach.
Building community partnerships
Strong community ties create lasting business success. Lincolnshire County Council is strengthening its community engagement approach, bringing residents into decision-making processes earlier and, this shift creates opportunities for businesses to participate meaningfully.
Voluntary Centre Services Lincolnshire helps strengthen community delivery, while Lincolnshire CVP provides guidance and training to volunteers and community groups countywide. These connections can open doors to collaborative projects and local support.
Sustainable practises and green funding
Sustainability has moved from nice-to-have to must-have. The Low Carbon Lincolnshire programme offers fully funded workshops on Net Zero planning, decarbonisation, energy management, and sustainable supply chains. These sessions can help you future-proof your business.
The Lincolnshire Chamber of Commerce, partnering with the University of Lincoln, has launched a sustainability performance tool for integrating Environmental, Social, and Governance strategies and eligible businesses can pursue Small Business Sustainability Mark accreditation.
Money follows purpose here. Rural Business Grants are for businesses adapting to challenges, especially those delivering essential community services. This funding can support your sustainable business transition while strengthening community ties.
Essential Resources for Lincolnshire Entrepreneurs
Success depends on knowing where to find help when you need it most. Here are the key resources that will support your business journey across the county.
Business Lincolnshire
Start here. Business Lincolnshire stands as your primary growth hub throughout Greater Lincolnshire and Rutland:
- Connect with fully funded business advisers who tailor guidance to your specific situation • Access programmes covering sustainability, scale-up support, and startup essentials
- Call their Business Support Helpline on 01522 782067 (Monday-Friday, 8:00am-6:00pm) for impartial advice
Lincolnshire Chamber of Commerce
Founded in 1889, this organisation has been supporting local businesses for over a century:
Join their membership network for practical support and valuable contacts • Attend events that bring together 5,000+ business people each year • Benefit from their not-for-profit structure – every pound supports Lincolnshire businesses
District Council Support
Your local authority offers specialised business assistance. Contact details:
North Kesteven: [email protected]
South Kesteven: [email protected]
West Lindsey: [email protected]
City of Lincoln: Free one-to-one diagnostic and mentoring support available
North Lincolnshire: [email protected]
Finding Funding Made Simple
Track down financial support through these tools:
- Business Lincolnshire Grant and Support Finder – comprehensive list of current programmes
- Cabinet Office ‘Find a Grant’ service – unified government grants portal
- British Business Bank Finance Hub – matches growing businesses with suitable finance options
Ready-to-Use Templates and Guides
Get practical resources to accelerate your launch:
- Lincolnshire County Council: downloadable business plan templates • Start Your Own Business (SYOB): free startup checklists, guides, and maps
- Business & IP Centre: startup tools for entrepreneurs from all backgrounds
Remember, the right resource at the right moment can make all the difference to your business success.
Conclusion
Your entrepreneurial journey in Lincolnshire starts with remarkable advantages. The economy offers solid ground for ambitious ventures, rooted in established sectors that continue to thrive year after year.
Yes, challenges exist. Rural connectivity and transport networks present hurdles that require smart planning. But here’s what sets successful entrepreneurs apart: they see obstacles as opportunities to innovate and differentiate themselves from competitors.
Business support and funding provide the financial foundation many ventures need to gain momentum.
Your team-building success hinges on tapping into the county’s educational strengths. Two universities, seven further education colleges, and robust apprenticeship programmes create a talent pipeline that’s both skilled and motivated. Government funding helps offset training costs, making quality recruitment more accessible for growing businesses.
Marketing locally requires authentic community connections, but your success depends on building genuine relationships rather than simply broadcasting messages. Sustainability practices increasingly separate thriving businesses from those merely surviving.
Success in Lincolnshire comes down to three fundamental principles: thorough preparation, strategic use of available resources, and persistent community engagement. The infrastructure investment, diverse economic base, and comprehensive support systems create conditions where well-prepared entrepreneurs can build lasting enterprises.
You now have the roadmap. The resources are waiting. Your next step is to begin.
