Download Appendix E (BIS Business Support)

Appendix E
BUSINESS SUPPORT
www.gov.uk: Government is working with businesses and organisations to enable people
to access help and advice to start and grow their business. ‘Business in You’
http://businessinyou.bis.gov.uk. or www.gov.uk provides access to all the help available.
StartUp Loan Scheme: Provides advice and start-up finance (around £2,500) for 18-30
year olds looking to start and grow their own businesses. Further details can be found at:
http://www.startuploans.co.uk/
Business Finance Partnership (BFP): Government has invited the first round of proposals
to help businesses access non-bank finance through the BFP, and has allocated £100
million of the BFP to invest through non-traditional lending channels that can reach smaller
businesses, which could include peer-to-peer platforms and supply chain financing. Further
details on BFP can be found at: http://www.bis.gov.uk/business-finance-partnership
Business Finance Finder: search for publicly-backed and private sources of finance that
can help you to start and grow your business
www.improve.businesslink.gov.uk/resources/business-finance-finder
Enterprise Finance Guarantee (EFG) scheme: Providing, subject to demand, up to £2bn
of additional lending. Budget 2012 announced measures to incentivise lenders to lend more
to smaller businesses by raising the level of lenders’ EFG portfolios to which the
Government guarantee applies from 13% to 20 % for 2012/13. Further details can be found
at: https://www.gov.uk/government/publications/enterprise-finance-guarantee
Government’s Enterprise Capital Funds programme: Providing for more than £300m of
venture capital investment to address the equity gap for early stage innovative SMEs with
the highest growth potential. Eleven funds have been launched since 2006 and more than
£150m invested in companies. Further details can be found at:
http://www.capitalforenterprise.gov.uk/portfolio
Business Angel Co-Investment Fund: The £50m Fund invests with syndicates of
business angels who are interested in investing in SMEs in qualifying areas of England.
Further details can be found at: http://www.angelcofund.co.uk/
UK export finance: Provides trade credit insurance to exporters and guarantees to banks
to support UK exports. Since May 2010, UKEF has supported over £235m of export
contracts under its short-term products, while providing support of £6.6 billion across its
entire product range. Further information can be found at: www.ukexportfinance.gov.uk or
call the customer helpline on: 020 7512 7887.
Export/International Trade Support: UKTI offers a range of advice and support for new
and experienced exporters. Offers include:
Exporting for Growth Guide setting out the benefits of exporting and issues companies
need to consider as well as outlining sources of help.
Open to Export is a new online service providing SMEs with information, advice and
guidance on exporting overseas. Companies receive bespoke answers to meet their
business needs in new markets, access practical information on export topics, connect and
engage with a range of exporters and explore the latest international opportunities for their
business. In addition to accessing government advice, through international trade advisors
based at British embassies and high commissions, companies can also receive support from
existing and prospective exporters, lawyers, accountants and independent trade advisors.
Passport to Export – this programme free capability assessments, support in visiting
markets, mentoring from a local professional, action plans, customised and subsidised
training, as well as ongoing support.
Research and contact services: Overseas Market Introduction Service and Export
Markets Research Scheme and other market intelligence services for exporters.
UKTI also helps arrange groups of UK companies to attend tradeshows and missions
worldwide.
Full details on the UKTI site: http://www.ukti.gov.uk/export/exporting/startingexporting.html
Growth Accelerator: A premium service that will help up to 26,000 SMEs achieve their
high growth potential over three years. Working with an experienced coach, qualifying
businesses will receive a focused growth plan, masterclasses, networking and peer to peer
support from a high growth community. SMEs can also benefit from developing their
leadership and management capability. Further details can be found at:
http://www.growthaccelerator.com/
New Enterprise Allowance: Help for unemployed people who want to start a business,
with an emphasis on sustainability and growth potential. It is available to people aged 18
and over who have been claiming Jobseeker’s Allowance (JSA) for three months or more.
The NEA has been available across Great Britain since the end of August 2011.
Performance data to the end of February 2012 shows that 12,050 claimants have started
working with a NEA business mentor and 4,560 claimants have started claiming the NEA
weekly allowance. Further details can be found at:
http://www.dwp.gov.uk/adviser/updates/new-enterprise-allowance/
Get Mentoring is a public/private sector partnership, grant assisted by BIS and GEO and
led by the Small Firms Development Initiative, to recruit 15,000 volunteer business mentors.
Further details can be found at: http://getmentoring.org/
The people and skills you need to grow: Last year over 500,000 new apprenticeships
began (provisional data). Businesses of all sizes are using apprenticeships to help recruit
and develop the people they need – with the government funding all or much of the costs of
training, plus incentive payments for small and medium firms who take on new young
apprentices. www.apprenticeships.org.uk
Employee Ownership Pilot: Launched in 2011 Employer Ownership Pilot gives employers
direct access to government funding, to put alongside their own investment and procure the
training which has the greatest impact for their business. The fund routes public investment
directly to employers and is backed by significant resources from existing skills budgets.
Funding of up to £340 million is available subject to evidence of high-quality proposals from
employers and ongoing evaluation. You must register for the second round of the Employee
Ownership Pilot by the end of March 2013. To register and for more details:
www.ukces.org.uk
Technology Strategy Board helps SMEs develop new products and services and access
technology. Since May 2010 the TSB, both directly and through Knowledge Transfer
Networks, has helped thousands of SMEs. More information on all of the following support
can be found at: www.innovateuk.org.
Technology Strategy Board support for business growth through innovation includes the
following:
Launchpad: Launchpad is a TSB programme providing funding for business innovation
that aims to support the development and strengthening of clusters of high-tech companies
in specific theme areas, geographical locations and sectors e.g. Tech City.
Knowledge Transfer Partnerships (KTP): KTPs is a major programme run and funded by
the TSB in which a relationship is formed between a company and a University/academic
institution which facilitates the transfer of knowledge, technology and skills to which the
business. There are currently 53 current KTP projects running in London.
Small Business Research Initiative - SBRI: The SBRI programme uses the power of
government procurement to drive innovation. It provides opportunities for innovative
companies to engage with the public sector to solve specific problems. London has been the
most successful region in the UK for businesses bidding for and securing SBRI development
contracts. Additionally, TSB has developed and run two successful SBRI Challenges with
NHS London on Behaviour Change for Obesity and Alcohol where the target population is
London (and other urban dwellers).
Smart : Funding to small and medium-sized enterprises (SMEs) to engage in R&D projects
in the strategically important areas of science, engineering and technology, from which
successful new products, processes and services could emerge. Projects will last up to 9
months, have a maximum grant of £25k, and up to 60% of total project costs may be funded.
Catapult: Catapult is a technology and innovation centre where the best of the UK's
businesses, scientists and engineers can work side by side on research and development transforming ideas into new products and services to generate economic growth.
Manufacturing Advisory Service: The Manufacturing Advisory Service helps firms
improve productivity and grow. The new national MAS was launched in January 2012.
www.mymas.org.
Advanced Manufacturing Supply Chain Initiative: launched in January 2012 the
Advanced Manufacturing Supply Chain Initiative aims to help existing UK supply chains
grow and achieve world class standards while encouraging major new suppliers to come
and manufacture here. The fund supports innovative projects in established UK advanced
manufacturing sectors such as aerospace, automotive and chemicals. It will also target
newer growth areas where the UK is well placed to take a global lead, such as energy
renewables and other low carbon sectors. Further details at www.mymas.org
The Regional Growth Fund is a £2.6 billion fund operating across England from 2011 to
2016. It supports projects and programmes that lever private sector investment to create
economic growth and sustainable employment. The Fund is designed to create additional
private sector growth in areas currently dependent on the public sector.. Round 4 is now
open for applications. The RGF is a flexible and competitive fund, with bidders able to
submit bids either as a project or a programme. It has a minimum bid threshold of £1 million.
Private sector organisations are eligible to bid either individually, or in partnership with other
private or public sector organisations. Under RGF there are three high street banksupported finance schemes available for SMEs; two do not apply for London companies,
the third, from HSBC is an ‘assisted’ asset purchase’ scheme that provides additional funds
of up to £500,000 towards the acquisition of assets for businesses located in Assisted
Areas. Details of the scheme can be found at: www.business.hsbc.co.uk/1/2/commercialbanking/loans-and-finance/regional-growth-fund-assisted-asset-purchase-scheme
Green Investment Bank: Paving the way for the Bank, UK Green Investments (UKGI) will
make direct investments on behalf of the Secretary of State, on fully commercial terms, prior
to state aid approval. UKGI is developing a pipeline of deals, and has to date committed up
to £180 million for specialist fund managers to co invest equity into waste and non domestic
energy efficiency infrastructure projects. One of the waste fund managers has recently
invested £2 million with a further £2 million of matching private sector funding, in a £21
million project to build a food and green waste processing plant in Dagenham. The Green
Investment Bank is expected to have full borrowing power from April 2015, subject to further
state aid approval. Further details at http://www.bis.gov.uk/ukgi
British Business Bank: Announced in September 2012, the bank will bring together in one
place Government finance support for small and mid-sized businesses. It will also control
the Government’s interests in a new wholesale funding mechanism which will be developed
to unlock institutional investment to benefit small businesses. The bank will have an initial
£1 billion at its disposal, and aims to attract further private sector funding so when fully
operational it could support up to £10 billion of new and additional lending for UK’s SMEs.
The objective is to create a single institution that will address long standing structural gaps in
the supply of finance. Launch date not confirmed.
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