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SOURCES OF FINANCE
Enterprise Europe East Issued 08/11/13 Tel 07799 060400 or E-mail © John Christopher 2013
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INTRODUCTION and PURPOSE This guide has been put together to help companies understand the minefield of information on finance, grants and related resources. (To search this document for a topic just go Ctrl F.) It is frequently updated but no responsibility can be taken for URL’s that change or the resources on the websites referred to herein. None the less one hopes the guide will be of use. This guide and similar resources can be found on the Enterprise Europe East website under the Links section at www.enterpriseeuropeeast.org.uk. Did you know that Enterprise Europe Network Advisers provide FREE*:-
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BANK and RELATED British Business Bank The British Business Bank is being created as a state-backed economic development bank, bringing together public and private sector money to create more effective finance markets for smaller UK businesses. www.british-business-bank.co.uk Business Finance Explained See here for an explanation of all the options offered by Banks. www.gov.uk/business-finance-explained Enterprise Finance Guarantee (EFG) The EFG is a loan guarantee scheme intended to facilitate additional bank lending to viable SMEs with insufficient or no security with which to secure a normal commercial loan. www.bis.gov.uk/policies/enterprise-and-business-support/access-to-finance/enterprise-financeguarantee European Investment Bank The EIB offers a Risk Sharing Finance Facility (RSFF) for companies engaging in research, development and innovation. www.eib.europa.eu/products/rsff/index.htm Factoring and Invoice Discounting Factoring - also known as 'debt factoring' - involves selling your invoices to a third party. In return they will process the invoices and allow you to draw funds against the money owed to your business. There is a cost and it is difficult to get out of these schemes once entered. See Debtor Days later. www.gov.uk/business-finance-explained/invoice-financing Leasing and Asset Finance Leasing or renting assets (eg machinery or office equipment) can save you the initial costs of buying them outright. www.gov.uk/business-finance-explained/leasing-and-asset-finance
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NESTA - the National Endowment for Science, Technology and the Arts Support through investment / equity finance. www.nesta.org.uk Overdraft An overdraft is a borrowing facility attached to your bank account, set at an agreed limit. Unlike a term loan, overdraft facilities may get varied at the whim of a Bank. www.gov.uk/business-finance-explained/overdrafts SME Guarantee Facility (SMEG) The SME Guarantee Facility provides loan guarantees to encourage banks to make more debt finance available to SMEs, including microcredit and mezzanine finance, by reducing the banks' exposure to risk. SMEG provides co-, counter- and direct guarantees to financial intermediaries providing SMEs with loans, mezzanine finance and equity. www.eif.org/what_we_do/guarantees/cip_portfolio_guarantees/index.htm CAPITAL ALLOWANCES Capital Allowances Tools, machinery, office equipment, computers, vehicles, pieces of plant and factory equipment may qualify for plant and machinery allowance. Another possibility is buildings. www.gov.uk/capital-allowances Capital Allowance Investment Schemes See next for a list of all the various capital allowance investment schemes. www.hmrc.gov.uk/capital_allowances/investmentschemes.htm Enhanced Capital Allowance (ECA) - equipment The ECA allows the full cost of an investment in designated energy-saving plant and machinery to be written off against the taxable profits of the period in which the investment is made. http://etl.decc.gov.uk/etl CASH FLOW Cash Accounting A scheme for companies with a turnover below circa £1.4M whereby you only pay the VAT on invoices when your customer actually pays, hence helping reduce working capital requirements. www.gov.uk/vat-cash-accounting-scheme Cash Flow Forecast Effective cashflow management will help protect the financial security of your business. www.businesscasestudies.co.uk/business-theory/finance/budgets-and-cash-flowforecasts.html#axzz2D4UV9Cx5 Cash Flow Management Most companies fail through poor cash flow, hence the Institute of Credit Management has produced 10 short guides – visit www.icm.org.uk/resources/cashflow-guides or cut to chase to see the pdf guides thus:-
1. Knowing your customer 6. Factoring and Financing 2. Payment terms 7. Chasing payment 3. Invoicing 8. When cash runs short 4. Treating Suppliers 9. When all else fails 5. Credit Insurance 10. When your customer goes bust
Creditor and Debtor Days Creditor Days is the average time in days you take to pay your suppliers. Debtor Days is an average expressing the time your customers take to pay. Avoid the cost (and loss of profit) in factoring by driving down Debtor Days yourself. www.moneyterms.co.uk/creditor_days
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Credit Protection Association The CPA (PAID) scheme is a novel concept providing some protection to your sales ledger against an agreed level of bad debt by working with you taking on the effort of chasing payment. www.cpa.co.uk/services/about_cpa_paid.aspx Debt Recovery How to make a Court claim and more www.gov.uk/browse/tax/court-claims-debt-bankruptcy Debt Recovery - from elsewhere in the UK How to make a "cross-border" claim. www.gov.uk/recover-debt-from-elsewhere-in-european-union Overtrading and Working Capital Overtrading occurs when there is an imbalance between the work that a business takes on and its capacity to do the work. Working capital is the money tied up in the sequence of paying for goods, stock, rent and staff, etc. whilst you are still waiting for payment in full from your customers. A growing business may well have an ever increasing amount of working capital required, hence minimise inventory and expedite payments from your customers. www.gov.uk/avoid-business-cashflow-problems EQUITY INVESTMENT Angel CoFund The fund is able to make initial equity investments of between £100K and £1M in to SMEs alongside syndicates of business angels, subject to certain geographical restrictions (see the post code lookup) and an upper limit of 49% of any investment round. www.angelcofund.co.uk Business Angels and Private Equity Business Angels are people or syndicates who invest, often during business start-up or early development, in return for an equity share. Typical sums are £10,000 to £50,000. www.bvca.co.uk/PEVCExplained/features/WhatisPE Business Finance Partnership (BFP) The Business Finance Partnership has led to six funds so far where investors are complimenting government funds and investing in medium sized business. Prospective companies should contact the funds directly:
Alcentra: contact Graeme Delaney-Smith [email protected] 020 7367 5003
Ares: contact Mike Dennis [email protected] 020 7153 4631
Hayfin: contact Mark Tognolini [email protected] 020 7074 2906
ICG: contact Max Mitchell [email protected] 020 3201 7736
M&G: contact James Pearce [email protected] 020 7548 2695
Pricoa: contact Ed Barker [email protected] 020 7621 8429
The second strand of the Business Finance Partnership invests in non-traditional lenders that provide an alternative source of lending for small businesses with turnover up to £75 million. The seven lenders are:
Beechbrook Capital will provide mezzanine loans to small businesses
BOOST&Co will provide larger loans to small businesses
Credit Asset Management Ltd (CAML) provides leasing and professional loans
Funding Circle is an online platform that allows small businesses to borrow directly from investors
Market Invoice gives small businesses advances on invoices from corporate customers
URICA is launching a new model of supply chain finance
Zopa is an online platform that allows small businesses to borrow directly from investors
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Enterprise Capital Fund (ECF)
Started in 2006 the Enterprise Capital Fund scheme is a public/private programme providing venture capital for early-stage, innovative SMEs with high growth potential. The latest fund is to be known as Episode 1 and will make investments of between £0.25M and £2M. www.capitalforenterprise.gov.uk/ecfp or visit the new British Business Bank website here for a list of all the fund managers. Enterprise Investment Scheme (EIS) The EIS is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies. www.hmrc.gov.uk/eis Equity financing: The high growth and innovative SME (GIF) This new site will help you to apply for finance supported by the European Union. http://ec.europa.eu/cip/eip/access-finance/index_en.htm EU finance, access to This site will help you to apply for finance supported by the European Union. To access EU finance, click on your country to locate banks or venture capital funds that provide finance supported by the EU. http://access2eufinance.ec.europa.eu EU Finance for SME's This new site will help you to apply for finance supported by the European Union. www.access2finance.eu Low Carbon Innovation Fund (LCIF) The fund will make early-stage equity investments into SME's that are developing new and innovative products or processes in a low carbon, environmentally sensitive manner. Runs to Dec 2015. www.lowcarbonfund.co.uk Seed Enterprise Investment Scheme (SEIS) Introduced in late 2011 the SEIS offers companies less than 2 years old and with under 25 people the potential to raise £150,000. SEIS helps small, early stage companies raise equity finance by offering a range of tax reliefs to individual investors who purchase new shares in those companies. www.seis.co.uk and also www.seiswindow.org.uk UK Future Technologies Fund The UK FTF is a technology focused 'fund-of-funds' launched by the EIF and the UK Government. It invests into venture capital funds in the ICT, life sciences and advanced manufacturing sectors. The funds should have a UK focus and an emphasis on early and development stage companies. UK FTF L.P. held a first closing in February 2010 at GBP 200m with the UK Government and the EIF as cornerstone investors and will continue to make new investments up until February 2014. www.eif.org/what_we_do/resources/UK_FTF/index.htm Venture Capital Venture capitalists (or private equity firms) invest in high-potential growth businesses in order to generate a return in the event of an IPO or trade sale. Visit the British Venture Capital Association website to see a list of members. www.bvca.org.uk EXPORT and Related Access to Finance The EU Competitiveness and Innovation Framework Programme (CIP) has several schemes and a budget of over €1bn to facilitate access to loans and equity finance for SMEs where market gaps have been identified. http://ec.europa.eu/cip/eip/access-finance/index_en.htm
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Business Opportunity Alerts A free service providing sales leads, brought to you via UKTI's huge global contacts network. www.ukti.gov.uk/export/howwehelp/businessopportunityalerts.html Direct Lending Scheme Provided by UK Export Finance, the Direct Lending Scheme provides a loan of between £5 million and £50 million to an overseas buyer to finance the purchase of capital goods and/or services, from an exporter carrying on business in the UK. www.gov.uk/government/publications/direct-lending-scheme/detailed-guide-direct-lending-scheme Export Enterprise Finance Guarantee (ExEFG) Provides guarantees to help small businesses access loans for export finance. Runs from April 2011 www.bis.gov.uk/policies/enterprise-and-business-support/access-to-finance/ex-efg Export Finance Products UK Export Finance's products and services including quick guides to products, credit terms, recourse, application forms and more www.ecgd.gov.uk/products-and-services Enterprise Europe East of England Enterprise Europe East of England is your free local gateway to a wealth of information on doing business, finding collaborative partners and increasing your competitiveness in Europe. Access an extensive business and innovation network made up of almost 600 partner organisations in 53 countries in Europe and beyond. www.enterpriseeuropeeast.org.uk Enterprise Europe Network (EEN) Working through local business organisations EEN helps companies develop business in new markets, source or licence new technologies and access EU finance and EU funding. www.enterprise-europe-network.ec.europa.eu/about/branches Exporting for Growth Exporting for Growth is a long-term initiative from UKTI to get professional advisers to business to join in a national challenge and play their part in increasing the number of SME exporters. www.ukti.gov.uk/export/howwehelp/item/213720.html International Trade Everything on starting to export or importing and much more. www.gov.uk/browse/business/imports-exports Overseas Market Information Service (OMIS) UKTI’s Overseas Market Information Service is a flexible business tool engaging with the services of trade teams, located in embassies, high commissions and consulates across the world, to benefit your business. www.ukti.gov.uk/export/howwehelp/overseasmarketintroductionservices.html Passport to Export UKTI’s Passport to Export Service assesses a company’s readiness for international business and helps it build international trade capacity. www.ukti.gov.uk/export/howwehelp/passporttoexport.html UKTI Defence & Security Organisation (DSO) UKTI DSO is a special export support service focused upon helping companies in either the Defence or Security sectors. www.ukti.gov.uk/pt_pt/defencesecurity.html UKTI (UK Trade & Investment) UKTI is there to help grow your business internationally through a range of services (only a few are mentioned earlier) including selected trade fairs, outward missions and bespoke market intelligence. www.ukti.gov.uk/export/howwehelp.html
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GRANTS Agri-Tech Grants Being launched on 1
st December 2013 these grants are to support the development of development of new
and innovative ideas within the agri-tech industry in Cambridgeshire, Peterborough, Norfolk and Suffolk. www.yourlocalenterprisepartnership.co.uk/agri-tech-grants Biomedical Catalyst Another TSB competition which closed on 9
th October 2013, grants were to be available in three areas for
both academic and industry led projects - feasibility, early and late stage with awards up to £2.4M - £3M. www.innovateuk.org/content/competition/biomedical-catalyst.ashx Business Support Finder As part of the Business Link service there was a searchable database for grants and support along with other resource including videos, tools and case studies. http://improve.businesslink.gov.uk European Regional Development Fund (ERDF) The ERDF Competitiveness Programme supports low carbon innovation and economic growth. It is only available to intermediary bodies (which can include larger businesses) for projects that encourage these outcomes in multiple SMEs and which must be delivered on a not for profit basis. ERDF can fund up to 40% of total project costs, which can be matched by a mix of cash and in-kind contributions from the project applicant and any partners. Runs from 2007 - 2013. www.communities.gov.uk/regeneration/regenerationfunding/europeanregionaldevelopment/eastengland/ ERDF in the East of England Outline applications for ERDF funding can be made at any time, but submissions must be at least 3 weeks in advance of the next panel meeting. Funding is allocated to the East of England and projects must assist multiple SMEs and SMEs cannot apply directly for funding themselves. Project delivery must be completed by 31st March 2015, with three further months to complete evaluation and final claims. Contact Michelle Burdett on 0303 444 6411 or send a draft to [email protected] in the first instance. (Applications that are not reviewed in draft well in advance are rarely successful.) www.gov.uk/applying-for-erdf-funding#applying-in-the-east-of-england EU Funding Schemes at a glance A guide to EU funding prepared by East of England MEP Vicky Ford. www.vickyford.org/downloads/vickys-guide-to-eu-funding.pdf Farming and Forestry Improvement Scheme (FFIS) Farmers, foresters and horticulturalists could apply for grants of £2k5 to £25k to invest in green projects and
new machinery. Currently they are looking at the possibility of a 3rd round of FFIS in the autumn 2013.
http://rdpenetwork.defra.gov.uk/funding-sources/farm-and-forestry-improvement-scheme FundMap FundMap provides an easy navigation to the grants and funding available to UK technology businesses. www.fundmap.co.uk Gov.uk The Government portal has now replaced the comprehensive BusinessLink website. There is a searchable database of grants and sources of finance but with limited filters. www.gov.uk Grants4Growth (G4G) Grants4Growth is a new £8.5m project run by Breckland Council in partnership with most Local Enterprise Partnerships (LEPs). It provides: Capital grants for SMEs to purchase/install efficient new processes, production facilities and clean tech, helping them invest to grow; Revenue grants and other direct assistance to support SMEs to promote products/services such clean technology and renewable energy. Be sure to discuss with you LEP and contact Cassie Mant on 01362 656235 or e-mail [email protected]. www.grants4growth.org.uk
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Great Business Another new government website which gives advice and guidance on staffing, finance, expanding and running a business. Sign up for e-newsletters or look at some of the further linkages and resources provided. www.greatbusiness.gov.uk/financing-a-business Innovation Vouchers There are many different organisations providing what they each call “Innovation Vouchers”. In this instance the TSB provides a number itself aimed at specific sectors and lists several from Universities and the like. https://vouchers.innovateuk.org/innovation-vouchers-listing SMART - Grants for Research and Development (inc. Proof of Concept and Proof of Market funding) Previously administered by RDA's the budget has been slashed, whilst the scheme now extends to Scotland and Wales. The Technology Strategy Board now administer such budget as remains although the success chances are somewhat reduced. www.innovateuk.org/-/smart HMRC Interest HMRC make charges for late payment but you may not be aware that they will also pay interest on any advance payment of Corporation Tax for example. Call your local HMRC office for details. www.hmrc.gov.uk/payinghmrc Patent Box Being phased in from April 2013 this will enable companies to pay Corporation tax at the low rate of just 10%. www.enterpriseeuropeeast.org.uk/eox/news/index.asp?newsid=556 Payments Be aware that HMRC are no longer a preferential creditor and may demand full payment or commence legal action earlier than in years past. www.gov.uk/difficulties-paying-hmrc R&D Tax Credit Whilst various rules have to be met, R&D Tax Credits are applicable to both SME's and Corporates helping them to recover some of the cost of qualifying R&D project expenditure. www.hmrc.gov.uk/ct/forms-rates/claims/randd.htm LOANS and GUARANTEES Access to Finance The EU Competitiveness and Innovation Framework Programme (CIP) has several schemes and a budget of over €1bn to facilitate access to loans and equity finance for SMEs where market gaps have been identified. http://ec.europa.eu/cip/eip/access-finance/index_en.htm East Regional Growth Scheme A government backed scheme for incorporated businesses with a minimum annual turnover of £500k. Provides loans of between £50,000 and £200,000 to companies showing strong growth potential and have a medium to long-term funding requirement to deliver that growth. www.thefsegroup.com/finance-east/regional-growth-loan-scheme Energy Efficiency Financing Leases, loans and other financing options from £1k upwards with no maximum to all types of organisations. New, more efficient equipment should lower energy bills and with payments calculated so that they are offset by the anticipated energy savings. www.carbontrust.co.uk/cut-carbon-reduce-costs/products-services/financing/pages/financing.aspx
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Co-operative Loan Fund The Co-operative Loan Fund aims to strengthen the size and scope of the co-operative sector through the provision of ethical, accessible loan finance. www.co-operativeloanfund.co.uk/index.html Enterprise Finance Guarantee Scheme (EFG) The EFG is a loan guarantee scheme intended to facilitate additional bank lending to viable SMEs with insufficient or no security with which to secure a normal commercial loan. www.bis.gov.uk/policies/enterprise-and-business-support/access-to-finance/enterprise-finance-guarantee European Investment Bank Loan A number of UK high street banks have secured financing from the European Investment Bank (EIB) to provide lower-cost long-term loans to small and medium-sized enterprises (SMEs) i.e. with < 250 staff. www.eib.org European Investment Bank (EIB) The EIB offers a Risk Sharing Finance Facility (RSFF) for companies engaging in research, development and innovation. www.eib.europa.eu/products/rsff/index.htm Finance East Finance East is an independent fund manager based in Ipswich, providing growth finance to innovative, ambitious businesses and entrepreneurs across the East of England region. www.financeeast.com/funds.html Foundation East Foundation East is a membership organisation that provides small business loans of up to £50,000. www.foundationeast.org New Enterprise Allowance (NEA) A scheme available to help Job Seekers start their own business. www.dwp.gov.uk/adviser/updates/new-enterprise-allowance Regional Growth Fund (RGF) The RGF is a £2.4bn fund operating in England until 2014. It supports projects that lever private sector investment creating economic growth and sustainable employment. It aims to help areas and communities currently dependent on the public sector to make the transition to private sector-led growth and prosperity. www.bis.gov.uk/policies/economic-development/regional-growth-fund Small Firms Loan Guarantee Scheme (SFLGS) Government suspended the SFLGS in January 2009 with the launch of the Enterprise Finance Guarantee Scheme (EFG). Start-up Loans Loans of up to £10,000 for 18 – 30 year olds with a new business idea. www.foundationeast.org/page/start-up-loans
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INNOVATION and TECHNOLOGY related Banking on IP “Banking on IP - the role of intellectual property and intangible assets in facilitating business finance” is the title of a study produced by the UK Intellectual Property Office. Recently completed an eight page Executive Summary is available now here or for a more complete 20 page summary document see below. www.ipo.gov.uk/ipresearch-bankingip-sum-281013.pdf Brian Mercer Award for Innovation An award for scientists who wish to develop an already proven concept or prototype into a near-market product ready for commercial exploitation. www.royalsociety.org/grants/schemes/brian-mercer-innovation Brian Mercer Feasibility Award For scientists who wish to investigate the feasibility of commercialising an aspect of their research. www.royalsociety.org/grants/schemes/brian-mercer-feasibility Collaborative Research and Development Collaborative research and development (R&D) is designed to assist the industrial and research communities to work together on R&D projects in strategically important areas of science, engineering and technology. Open competitions are run by the Technology Strategy Board. www.innovateuk.org/-/collaborative-r-d Co-operative Research Projects - FP7 FP7 (the Seventh Framework Programme) for Research and Technological Development was the instrument for funding research in Europe that ran from 2007-2013. About to be overtaken by Horizon 2020 along with a new SME Instrument to support innovation all due to commence in January 2014. http://ec.europa.eu/research/fp7/index_en.cfm Energy Entrepreneurs Fund The Energy Entrepreneurs Fund began on 23 August 2012. This is a competitive funding scheme to support the development and demonstration of innovative, new technologies, products and processes in the areas of 1. Energy efficiency and building technologies and 2. Power generation and storage. www.decc.gov.uk/en/content/cms/funding/funding_ops/innovation/innov_fund/eefs/eefs.aspx Eurostars The EUREKA's Eurostars Programme is the first European funding and support programme to be specifically dedicated to SMEs helping them lead international collaborative research and innovation. www.eurekanetwork.org/activities/eurostars Grants for Research and Development (inc. Proof of Concept and Proof of Market funding) Previously administered by RDA's the budget has been slashed, whilst the scheme now extends to Scotland and Wales. The Technology Strategy Board now administers such budget as remains although the success chances are now somewhat reduced.
www.innovateuk.org/-/smart Horizon 2020 Horizon 2020 is the name for the EU Framework Programme for Research and Innovation due to commence in January 2014 along with the new SME Instrument. It will combine all research and innovation funding currently provided through the Framework Programmes for Research and Technical Development, the innovation related activities of the Competitiveness and Innovation Framework Programme (CIP) and the European Institute of Innovation and Technology (EIT). http://ec.europa.eu/research/horizon2020/index_en.cfm Knowledge Transfer Partnerships Knowledge Transfer Partnerships (KTPs) are a tried and tested method of enabling companies to obtain knowledge, technology or skills which they consider to be of strategic competitive importance, from the further/higher education sector or from a research. www.innovateuk.org/-/knowledge-transfer-partnerships
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Mercer Prize This award is for scientists whose research has been commercially exploited for significant wealth generation or societal benefit in the UK. www.royalsociety.org/grants/schemes/mercer-prize Patent Box Being phased in from April 2013 the Patent Box will enable companies to pay Corporation tax at the low rate of just 10%. www.enterpriseeuropeeast.org.uk/eox/news/index.asp?newsid=556 R&D Tax Credit Whilst various rules have to be met, R&D Tax Credits are applicable to both SME's and Corporates helping them to recover some of the cost of qualifying R&D project expenditure. www.hmrc.gov.uk/ct/forms-rates/claims/randd.htm Royal Society Enterprise Fund The Royal Society Enterprise Fund is a new initiative aimed at providing equity finance and other support to start up companies with outstanding commercial potential founded on excellent science and technology. www.royalsociety.org/investment Royal Society Mullard Award An award made to an outstanding individual whose work has the potential to make a contribution to national prosperity. www.royalsociety.org/awards/mullard-award Small Business Research Initiative (SBRI) SBRI provides business opportunities for innovative companies whilst solving the needs of government departments. Competitions for new technologies and ideas are run in specific areas and aim to engage a broad range of companies in short-term development contracts. www.innovateuk.org/-/sbri SMART - Grants for Research and Development (inc. Proof of Concept and Proof of Market funding) Previously administered by RDA's the budget has been slashed, whilst the scheme now extends to Scotland and Wales. The Technology Strategy Board now administer such budget as remains although the success chances are somewhat reduced. www.innovateuk.org/-/smart Technology Innovation Fund NPL's Technology Innovation Fund (TIF) can provide bespoke technical support for UK industry to help overcome barriers to innovation. Subsidised support is available for SMEs and MSBs within the TIF programme, allowing for savings of up to 70% per project. www.npl.co.uk/technology-innovation-fund Technology Strategy Board (TSB) The TSB is there to encourage innovation and provides a number of awards, grants and Innovation Vouchers. www.innovateuk.org TSB Knowledge Transfer Networks (KTNs) The TSB runs a wide variety of Knowledge Transfer Networks such as the Health KTN and many more.
https://connect.innovateuk.org/networks
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PORTALS Business Finance and Support Finder Business Finance and Support Finder is a searchable database that can help you find publicly-funded sources of assistance you may be eligible to apply for. Support may be available in a number of forms, including financial assistance and free or subsidised advice services. www.gov.uk/business-finance-support-finder FundMap FundMap provides an easy to use provides easy navigation to the grants and funding available to businesses in the UK technology sector. www.fundmap.co.uk Great Business Another new government website which gives advice and guidance on staffing, finance, expanding and running a business. Sign up for e-newsletters or look at some of the further linkages and resources provided. www.greatbusiness.gov.uk/financing-a-business j4b.co.uk Comprehensive grant information for the UK. www.j4b.co.uk
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COUNTY SUPPORT
BEDFORDSHIRE SEMLEP SEMLEP is the South East Midlands Local Enterprise Partnership which includes Bedfordshire and Luton within its area. www.semlep.co.uk CAMBRIDGESHIRE Agri-Tech Grants Being launched on 1
st December 2013 these grants are to support the development of development of new
and innovative ideas within the agri-tech industry in Cambridgeshire, Peterborough, Norfolk and Suffolk. www.yourlocalenterprisepartnership.co.uk/agri-tech-grants Fredericks Foundation The Fredericks Foundation has got together with Cambridgeshire Community Foundation to lend to people within Cambridgeshire so that they may start up or grow their businesses. www.fredericksfoundation.org/cambridgeshire Greater Cambridge Greater Peterborough Enterprise Partnership (LEP) The Greater Cambridge Greater Peterborough Enterprise Partnership is focused on helping to drive forward sustainable economic growth in that area. www.yourlocalenterprisepartnership.co.uk ESSEX South East Local Enterprise Partnership The county of Essex is covered by the South East LEP, which also covers Kent and East Sussex. www.southeastlep.com HERTFORDSHIRE Hertfordshire Local Enterprise Partnership For details on local funding visit the website and contact Alan Corbett, External Funding Officer on 01707 358749 or e-mail [email protected]. www.hertfordshirelep.com/funding.aspx NORFOLK and SUFFOLK Agri-Tech Grants Being launched on 1
st December 2013 these grants are to support the development of development of new
and innovative ideas within the agri-tech industry in Cambridgeshire, Peterborough, Norfolk and Suffolk. www.yourlocalenterprisepartnership.co.uk/agri-tech-grants Bizinfoportal Bizinfoportal is the New Anglia LEP business information portal developed to provide Norfolk and Suffolk businesses with easy access to local and national support and advice. It brings together local and national business support from hundreds of sources and is designed to help you find help on subjects ranging from finance to exporting, resource efficiency to contract opportunities. www.bizinfoportal.co.uk Growing Business Fund Aimed primarily at businesses in energy, advanced manufacturing, health/life sciences and biotechnology, ICT and digital creative sectors, the Growing Business Fund for Norfolk and Suffolk provides grants of up to 20%, between £25,000 and £500,000, to businesses that have a shortfall in their investment plan and are able to create at least one job for every £10,000 provided. www.newanglia.co.uk/Activities/Growing-Business-Fund New Anglia LEP This Local Enterprise Partnership covers Norfolk and Suffolk www.newanglia.co.uk
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Enterprise Europe East Issued 08/11/13 Tel 07799 060400 or E-mail © John Christopher 2013
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Ready Set Go Start-up and trading businesses in Norfolk and Suffolk who are looking to develop a new process, product or idea may be eligible for a grant of 25% of the costs up to £25,000. www.w-l-p.co.uk/documents/Ready_set_go_000.htm