Financial support to expand your business
Crowdfunder Solent Grant Fund (£2,000 or £5,000 grant)
The Solent Local Enterprise Partnership’s Crowdfunder Solent Grant Fund is seeking projects that can demonstrate how they will help a business cope with current challenging trading conditions. There is a maximum pledge of up to £2,000 per micro business (fewer than 10 staff) and up to £5,000 per small business (fewer than 50 staff) available, contributing up to 50% towards the total target. For more details please see the Solent LEP website.
Manufacturing Growth Programme (£1,000 to £3,340 grant)
The Manufacturing Growth Programme provides advice and grants for manufacturing SMEs to ‘buy in’ specialists/consultants to help overcome barriers to their growth and development. The grants range from £1,000 to £3,340 i.e. one-third of the cost of an improvement project valued at between £3,000 and £10,000.
GetSet for Growth Programme (£1,000 to £25,000 grant)
GetSet Solent is an innovative business support programme delivering specialist, fully funded access to finance and marketing support to help businesses with the potential and ambition to grow, through a range of engaging workshops, 1:1 sessions and support to access the GetSet Solent Grant Programme.
The GetSet Solent support helps businesses improve their leadership and management skills, strengthen their business growth models, strategies and value propositions, build their sales pipelines, and accelerate their conversion rates. For more details please see the GetSet Solent website.
For information on other available funding see the Solent Growth Hub website.
Nationally available funds
Funding schemes include:
Research and Development (R&D)
- Research and Development Relief If your company is eligible you can potentially obtain tax relief of between £1 – £1 million that can either reduce your company’s tax bill or provide a cash sum. It is based on your company’s expenditure on R&D. Gosport based Selden Masts secured a rebate worth tens of thousands of pounds in 2014 as a result of the R&D it undertakes to develop and improve its products
- Innovate UK If you want to develop an innovative product or service, you may be able to apply for funding of between £25,000 and £10m. Innovate UK runs funding competitions that are open for projects led by any UK based companies to test feasibility of ideas; create a new product, process or service, or improve an existing one through R&D; and/or work with other businesses or research organisations on collaborative projects
- Knowledge Transfer Partnerships You can get funding of around £80,000 to innovate within your business. KTPs will help you work with a research organisation and a recently qualified graduate
- Tradeshow Access Programme (TAP) – if you are attending an overseas trade event you may be eligible for a grant of £1,500 to £2,500 towards your exhibiting costs (not travel and accommodation)
- Export Working Capital Scheme – helps you gain access to working capital finance by the Government providing partial guarantees to banks
Other useful links (some may require registration)
- J4bGrants.co.uk provides information on all the latest European grants, UK Government grants and other sources of funding to help start and grow your business.
- Better Business Finance provides impartial information and support to business customers looking to raise finance.
- Business Finance for You brings into one place a wide range of finance providers across Britain – including business angels, regional funds, government schemes and banks.
- Finding Finance is the Community Development Finance Institution (CDFI) website. CDFIs are non-profit organisations that lend money to individuals, businesses, social enterprises and charities who can use the money to help and develop their local community.
- The Next Generation Finance Consortium is a new platform where entrepreneurs can find full range of opportunities from crowdfunding to Venture Capital investment. The consortium offers guidance on alternative financing, practical workshops and information events, as well as business support match-making service.
- Business Angels is an independent site providing funding and mentoring to entrepreneurs. It was designed to allow UK entrepreneurs access to top Business Angels without having to pay a fee. All Business Angels on this site have personally made more than £100M as an entrepreneur and have invested in over 10 businesses.