Finance

Finance

Access to finance is a key consideration for any business, if you are looking to start up, grow or invest. The following resources can will provide information about the type of assistance that is available.

Business Link – Understanding Finance for Your Business|

Business Link – Grants |

Grant Finder| - To assist local organisation in their search for funding Derbyshire County Council can provide access to GRANTnet. It is a user friendly free to use service.
 

The Rural Development Programme for England |(RDPE) aims to improve competitiveness in the agriculture and forestry sector; safeguard and enhance the rural environment; foster competitive and sustainable rural businesses and thriving rural communities.
 

LEADER|- Derbyshire Economic Partnership has been awarded RDPE funding provided by the EU and Defra totalling £2.4m until 2013. The initiative is designed to deliver RDPE measures aimed at enhancing rural productivity and improving the quality of life in the Peak district with a particular focus on grant assistance to projects from very small rural businesses and social enterprises too small for the main RDPE programme.
 

Contracts Finder|- search for contracts that you can bid for as a business.

Collaborative Research and Development| - To bring together industry and research to undertake projects.
 

Grant for Research and Development|The Grant for Research and Development (Grant for R&D) scheme opened on April 4th 2011. Grant for R&D is available to single companies. Three types of grant are available:
- Proof of market grant
- Proof of concept grant
- Development of prototype grant
Pre start-ups, start-ups, and small and medium-sized businesses from all sectors across the UK may apply for the Grant for R&D programme.
 

The Enterprise Finance Guarantee| (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.

Enterprise Capital Funds| (ECFs) address a market weakness in the provision of equity finance to SMEs by using Government funding alongside private sector investment to establish funds that operate within the ‘equity gap’. An equity gap arises where businesses with viable investment propositions are unable to attract investment from informal investors or venture capitalists

Community Investment Tax Relief |- The CITR scheme encourages investment in disadvantaged communities by giving tax relief to investors who back businesses and other enterprises in less advantaged areas by investing in accredited Community Development Finance Institutions (CDFIs).  The tax relief is available to individuals and companies and is worth up to 25% of the value of the investment in the CDFI. The relief is spread over five years, starting with the year in which the investment is made.

HMRC Business Education & Support Team |- offers help and support to business.  Our UK wide network of specially trained Business Education and Support Teams can help you understand your tax responsibilities, and give you the confidence to get it right, first time.
How do they help? We run workshops on a variety of subjects at locations throughout the country. Our services are free of charge and are designed for everyone in business, especially new businesses or new employers.

During a workshop you will:
• learn about a specific product
• be able to discuss and practice some examples
• be given reference material to take away with you
Most workshops last about two hours.

Business Growth Fund| has been established to help Britain’s fast growing smaller and medium sized businesses. BGF provides long-term equity investment for those growing companies that today do not have enough access to this source of capital.
Growth potential is the key criteria, and our investments will be used to fund a wide variety of requirements from increasing working capital to making a strategic acquisition, from growth capex to increase capacity to a step change in sales and marketing, from an export drive to new product development. BGF operates in partnership with business, investing between £2m and £10m in return for a minority equity stake.
We typically invest in privately owned, profitable companies with a turnover between £5m and £100m. BGF invests in all sectors of the economy with the exception of financial services and property, through its local investment teams and offices across the UK. As these investments are made directly from BGF’s balance sheet we are able to take a long term view.
We are investors, not lenders; we provide equity, not debt. As equity investors we can look to the longer term prospects of a company and ensure it is properly capitalised. Banks, quite rightly look to a shorter period and are focussed on repayment of their debt. Their credit and risk criteria are naturally very different to that of an investor who can consider a broader range of factors. Equity investment is an alternative that we would encourage fast growing smaller and medium sized businesses to consider.
Successful entrepreneurs tell us that they don't want ever more debt. What they do want is a long term partner with access to new ideas, experience and relevant networks. They also tell us that they don't want to lose control of their business, which is why we only ever take a minority stake.
We recognise that to succeed, companies need more than just money: confidence and capabilities are critical too. Alongside our investment we provide practical and strategic support directly through the investment team and wider BGF infrastructure, through non-executive involvement at board level, and through access to our broader networks.
BGF is an independent company with capital of up to £2.5 billion, backed by five of the UK’s main banking groups - Barclays, HSBC, Lloyds, RBS, and Standard Chartered. This means we work closely with the banks and through our investments we can often help to unlock bank debt for companies. But, BGF is managed completely autonomously with a wholly independent management team.
BGF is one of a range of initiatives designed to forge a new relationship between the banking sector and UK businesses, and the BGF works in close collaboration with the British Bankers’ Association as well as other key business organisations across the UK.
 

Assisted Asset Purchase Scheme| - HSBC is participating in the Government's Regional Growth Fund (RGF), a £1.4billion fund which will operate across England from 2011 to 2013.
As a result, HSBC will receive £25million from the fund to support businesses that
• have a turnover of less than £25million; and
• are recruiting new employees; and
• are purchasing new fixed assets such as machinery and vehicles.

The RGF supports projects and programmes that lever private sector investment creating economic growth and sustainable employment. It aims particularly to help those areas and communities currently dependent on the public sector to make the transition to sustainable private sector-led growth and prosperity.

The National Apprenticeship Service (NAS)| has end to end responsibility for Apprenticeships in England. Apprenticeships are work-based training programmes designed around the needs of employers, which lead to national recognised qualifications. You can use Apprenticeships to train both new and existing employees. Funding is available to train apprentices.

The Derbyshire New Enterprise Allowance| (NEA) Project is being delivered by a partnership between Business in the Community, Derbyshire and Nottinghamshire Chamber of Commerce and the Erewash Partnership Limited.  NEA is a programme to mentor jobseekers who have been unemployed for at least six months and help them to start their own micro business. This can provide a way for unemployed people to have their chance at earning their own income, paying their own tax and offering local services and products to local people.
It will help regenerate neighbourhoods as micro businesses such as shops and local traders are often at the heart of the local economy as they live locally, spend locally and if their businesses thrive, they employ other local people. 
 

Growth Investment Network| where early stage and growth investment deals get done in the region.

Business Angels |- If you need business funding from a Business Angel investor you then contact Russell Copley, Greenborough’s Managing Director is the Regional Director for Angels Den in the Midlands www.angelsden.com

Greenborough| was established in 2003, and has worked with a large number of SMEs, from new starts to mature businesses providing them with a range of solutions for:

  • Business planning
  • Market development
  • Business skills development (e.g. negotiating, sales training)
  • Coaching for growth
  • Organisational development

Derbyshire County Council - Apprenticeship Service|

Are offering training grants for small and medium sized companies in Derbyshire to take on school leavers as apprentices, with a further 200 training opportunities expected to be created.

They are currently recruiting an apprentice training agency to administer the two schemes. It is expected that they will be up and running by January 2012.

Further details of up-coming apprenticeships will be advertised early in 2012 in local papers and on the Derbyshire County Council Website.

Money Advice Service|  is here to help everyone manage their money better. We do this by giving clear, unbiased money advice to help people make informed choices.
 

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