Accessing finance for Wiltshire Businesses

Here you will find a range of options available throughout Swindon and Wiltshire. These are some of the most popular methods of attracting funding, but we can help you find any number of solutions to fit your business, there's a minefield of information so please call/contact us for assistance. We're always happy to help.

Finance and Grants

With SWLEP, the European Structural Investment Fund ESIF is coming later this year, further Grants will soon become available, specifically designed to support Business Growth and Innovation in Wiltshire. In the meantime please check out the Finance and Grant summaries and short cuts below: Remember, help is at hand, call one of the Growth Hub Business Managers if you need further guidance.


Rural Business Funding 

LEADER Programme Grants 

Wiltshire and Swindon's rural areas are home to a wide range of businesses, from the farming and food sector to ITC, design and technology and advanced manufacturing. 

Whatever your business type, if you are based in a rural area, check out this page for information on funding programmes to help you, including LEADER and the Rural Growth Programme.
http://www.wiltshire.gov.uk/businesssupportandadvi...


SOUTH WEST Growth Fund Grants

South West Growth Fund is provided through collaboration between South West Manufacturing Advisory Service Ltd, Plymouth University's GAIN team, South West Water Business Services and the Western Morning News. It offers business growth grants for capital investment in new equipment, technology and processes, and training to support new technology and processes. Grants to SMEs range from £15,000 to £999,999 at a 10%-45% intervention rate. Projects must have been completed and grant spent by the end of March 2017. 

GOVERNMENT ENGINEERING SKILLS FUND 

Manufacturers Organisation. £30m and 50% match funding required https://www.gov.uk/government/publications/employ...


British Business Bank

The British Business Bank is being set up as a state-backed economic development bank.

It will support economic growth by bringing together public and private sector funds to create more effective and efficient finance markets for smaller businesses in the UK.

Find out more about the funding the bank can offer and unlock: http://british-business-bank.co.uk/

Specific schemes:

http://british-business-bank.co.uk/market-failures-and-how-we-address-them/

The British Business Bank Finance Guide, produced by the British Business Bank and the Institute of Chartered Accountants in England and Wales (ICAEW), sets out the full range of access to finance options for businesses as they go from start-up to growth to listing on the stock exchange - http://british-business-bank.co.uk/british-business-bank-icaew-jointly-publish-new-business-finance-guide/

http://www.greatbusiness.gov.uk/finance/ offers information and guidance about financial issues that can help business survive, including:

  • Financing and planning business growth
  • Finance options for new businesses
  • Equity finance for growth businesses
  • Debt finance and grants for growth businesses
  • Tax relief and incentives for business
  • Help with Bank lending appeals
  • Dealing with late payments
  • Funding and support for new ideas
  • Writing a business plan

Find out more: http://british-business-bank.co.uk/british-business-bank-icaew-jointly-publish-new-business-finance-guide/


Enterprise Finance Guarantee Scheme (EFG) (run by the British Business Bank)

Businesses that have been turned down for a commercial loan can ask their bank to access the Enterprise Finance Guarantee, which backs loans to viable businesses who don't necessarily have the security a normal loan would need.

EFG is open to viable businesses that:

  • operate in the UK
  • have a turnover of no more than £41 million
  • are seeking finance of between £1,000 and £1.2 million
  • wish and can afford to repay over a period of between 3 months and 10 years for term lending and between 3 months and 3 years for overdrafts, invoice finance and other revolving facilities
  • require the finance for an eligible purpose (most business purposes are eligible the most significant exclusion is the financing of specific export orders, as alternative forms of assistance for that purpose is provided by UK Export Finance, see page 18)
  • operate in a business sector that is eligible for EFG (almost all sectors are eligible where exclusions apply they arise from EU State Aid rules)

Find out more: http://british-business-bank.co.uk/market-failures-and-how-we-address-them/enterprise-finance-guarantee/


Innovate UK (formally known as Technology Strategy Board)

Offers funding, business support and networking platforms to help boost technology and innovation:

Smart grants offers up to £100,000 co-funding for R&D projects.

Smart is aimed at SMEs with high growth ambition and potential. Prestart-ups, start-ups, and small and medium-sized businesses from all sectors across the UK, undertaking R&D may apply.

Find out more: https://www.innovateuk.org/-/smart

Innovation Vouchers worth £5,000 are available for expert help to develop ideas.

This scheme is open to micro, small and medium-sized businesses with fewer than 250 employees only.

Find out more: https://www.innovateuk.org/-/innovation-vouchers


Angel Co-Fund (run by the British Business Bank)

Makes equity investments of between £100,000 and £1 million in smaller businesses in the UK.  It invests alongside strong syndicates of business angels to support businesses with strong growth potential.

Find out more: http://british-business-bank.co.uk/market-failures-and-how-we-address-them/angel-cofund/


Seed Enterprise Investment Scheme

Tax incentives for investors to invest in start-ups and small businesses. Find out more at: http://www.hmrc.gov.uk/seedeis/index.htm

The Start up Loans Company provides low-cost loans and mentoring for entrepreneurs over 18 years old who are looking to start a business.

Anybody living in the UK and is at least 18 years of age or older at the time of registration, can apply for a Start Up Loan, even if they have already started a business but they must not have been trading for longer than a period of 12 months.

Find out more: www.startuploans.co.uk/


Small Business Rate Relief

Most small businesses are eligible for the government's small business rate relief scheme. The scheme has been extended for 1 year from April 2014. If a business's property has a rateable value below £18,000 (£25,500 in Greater London) it would be considered a small business.

Find out more: https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief


Start-up Finance

The Business and Finance Support Finder tool can be searched for support available to start ups and has an in-depth database of information about grants, loans and other financial assistance available to businesses in the UK.

Find out more on: www.gov.uk/business-finance-support-finder

The Start up Loans Company provides low-cost loans and mentoring for entrepreneurs over 18 years old who are looking to start a business.

Anybody living in the UK and is at least 18 years of age or older at the time of registration, can apply for a Start Up Loan, even if they have already started a business but they must not have been trading for longer than a period of 12 months.

Find out more: www.startuploans.co.uk/

The Business Finance Guide produced by the British Business Bank and the Institute of Chartered Accountants in England and Wales, sets out the full range of access to finance options as a business goes from start-up to growth to listing on the stock exchange.
Visit www.greatbusiness.gov.uk/thebusiness-finance-guide


Home Businesses

It has never been easier to start a business from home. A checklist can be found on the GREAT website - http://www.greatbusiness.gov.uk/home-businesses/ and guidance can be found at www.gov.uk/government/publications/the-home-business-guide


UK Export Finance

This offers businesses planning to export goods or services from the UK a form of credit guarantee or insurance to protect against non-payment or other financial issues.

UK Export Finance (UKEF) can provide guarantees, insurance and advice in support of UK exports large and small. Working across a wide range of sectors, UKEF can consider support for exports to over 200 countries.

Find out more: https://www.gov.uk/government/organisations/uk-export-finance

CONTACT SWINDON AND WILTSHIRE GROWTH HUB 01225 402096

If you have questions give us a call and speak to the people that can help. Or send us a message using the form below