We describe the development, construction, data analysis, initial calibration and first results of LE2Pol, an inexpensive dual-beam optical imaging polarimeter. LE2Pol is designed for a 20 inch telescope at the observatory of the University of Leicester, but can also be used as a visiting instrument on a wide range of small telescopes (≲ 1 m). We show how simple imaging polarimeters on small telescopes can be used to provide useful scientific and educational data at low cost.