Hull & East Yorkshire Bondholders

Accessing Finance Seminar

Liz BaghurstDirector of Funding & Grants,

Seafox Management Consultants Limited

www.seafox.no1

Presentation Journey

• Context• Sources of Funding• Business Growth• Innovation• Workforce Development• What makes for a winning bid• Future Developments

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Context for the discussion

• Political– UK Coalition Govt– Local Growth White Paper (Oct 2010)– Change of approach to Arms Length Bodies – Local Enterprise Partnerships / Enterprise Zones

• EU– Europe 2020– European Structural Funds 2013-2020

• Economic– Global downturn– Export opportunities

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Sources of Grant Funding• UK Government– Central Departments– Arms Length Bodies (ABLs) – Local Authorities

• European Union– EC Central Departments– UK Government Managing Authorities

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Business Growth Funds

• Expand, Rationalise or Diversify• Competitive• Needs/Opportunity based• State Aid Compliance• Geographical targeting• Restrictions for some sectors • Business Case and Financial Plan• Outcomes or ‘Return on Investment’

Tier 2 Assisted Areas in Hull and East Riding of YorkshireEast Riding of Yorkshire

Hessle South Hunsley South West

Holderness

Kingston Upon Hull Drypool Holderness Marfleet Myton Newland Pickering Southcoates

West St Andrew’s

Regional Growth Fund• Centrally managed fund• Round 1 and 2 complete • £1.4 billion up to 2014• Grants, Loans and/or loan guarantees• Capital and Revenue• Round 3 expected in 2012• Projects, Packages & Programmes• Minimum Grant Threshold £1m• Grant Rates Apply• Growth and Jobs!

European Regional Development Fund (ERDF)

• Yorkshire & Humber Region• £300m up to 2013• Capital and Revenue• Priorities, support for:

1. Innovation & R&D2. Enterprise3. Sustainable Communities

• Co-financing - 30-60% grant rate 7

Grant for Business Investment (GBI)

Available for:• Large Projects >£2 million grant• Offshore Wind Manufacturers• Exceptional projects

1. mitigate or avoid a significant downturn in the local labour market; or

2. address a significant market failure• ‘Assisted Areas’ that need more help• Typically 10-15% grant rate

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Rural Development Programme for England

European Fund managed by DEFRA• The Rural Enterprise Investment

Programme (REIP)– Helps businesses start-up and grow– Min Grant £25,000– 40% Grant Rate

• The Farm Resource Efficiency Programme (FREP)– Small Capital Grants– £1,500 - £25,000

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Innovation

• New ideas that– Improve sustainability– Reduce costs/effort– Create new products and services

• Knowledge Economy– Technology– Knowledge– Collaboration

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Technology Strategy Board• Grants for Research and Development (R&D)

– Small to Medium sized companies– Proof of Market– Proof of Concept– Basic Prototype Development

• Knowledge Transfer Partnerships– Small and large companies– Project work with a University

• Competitions– Research– Feasibility Studies– Healthcare , Transport, Energy sectors

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Workforce Development• Build competitive industries through skilled

workforce

• Grants available for:– Apprenticeships– Non-statutory training Levels 1-3– Leadership and Management

• Contact your preferred supplier e.g. Universities, Colleges and Private Training Providers

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Future Developments

• Growing Places Fund• Joint European Support for Sustainable

Investment in City Areas (JESSICA)• Region Growth Fund Round 3• Local Enterprise Partnerships• Enterprise Zones• Big Society

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Key Messages

• Grant Opportunities ARE available!• Focus on growth and jobs• Private sector led regeneration• Seafox ‘Funding for Ambition’ in the Humber

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Thank You for your Attention........

Liz@seafox.noTel: 01472 361323

Twitter: @LizBaghurst