Finance and Support
Looking for guidance or funding?
The Loan Fund
A loan of up to £50,000 could be yours if:
- you're a business or social enterprise in Worcestershire,
and
- you've been turned down by high street banks.
The Worcestershire Loan Fund, administered by
the Impetus Marches (a
Community Development Finance Institution, or CDFI), offers
business loans repayable over anything from 6 months to 5
years. To learn more or apply, go to Impetus Marches.
The Green Bridge Supply Chain Programme (GBSCP)
This is a new competition funded with £20
million from the Regional Growth Fund, will be available shortly,
GBSCP is focused on supporting existing SMEs based in the West
Midlands which are:
- Operating within the green sector or seeking
to diversify into the sector
- Can demonstrate viability and financial
capability to deliver the project
- Seeking to implement an investment plan which
helps to develop and grow the business
- Creating sustainable new jobs and/or
safeguarding existing jobs
Grant support of between £20k and £100k will be available
for:
- The purchase of capital equipment
- Relocation and expansion into new premises
- Market development
- New product development
- Improvements in systems or processes
- Development of management and staff capability to support the
project
Eligible Sectors include:
- Advanced engineering
- Aerospace
- Low carbon and renewable energy
- Electronics
- Other manufacturing
- Building technologies
- Transport and logistics
- Creative industries
Details are available on www.birmingham.gov.uk/greenbridge.
Growth Accelerator
Access to finance, mentoring in leadership, business
development, advice on commercialising innovation - it's all here
at Growth
Accelerator.
10,000 Small Businesses
Funding from Goldman Sachs, run by Aston University. To
qualify, you must be planning to grow. Find out about other
criteria by going to
10,000 Small Business and scrolling down to Eligibility.
Changing Futures Fund
The
Changing Futures Fund helps community groups and social
enterprises, with a turnover of no more than £1 million, to develop
into stronger, more secure organisations.
Innovation Networks
Innovation Networks offers grant support to West Midlands
based SMEs who are working with other regional businesses to
develop innovative new products, processes or
services. Revenue grants of £10,000 are available to cover
product development costs such as parts and materials, prototype
development, testing and I.P protection. Or capital grants of
£10,000 are available to cover costs of tooling and machinery
needed to develop your new product.
The grants are quick and easy to apply for. Call 024 7623
6391 or email innovation@cad.coventry.ac.uk.
For more information visit the Innovations Networks
website or download the Innovation
Networks flyer 
(232 KB).
Nesta - investing in innovation
Nesta helps bring great ideas to life - in science, art and
technology - by providing investment and grants, and by
mobilising research, networks and skills. Find out more at
Nesta.
Technology and Innovation Futures West Midlands
Are you making the most of technology?
The Technology and Innovation Futures
West Midlands is designed to help you assess whether new
solutions could enhance your business.
The initiative provides 50% of up to 10 days industry specialist
fees. An initial needs analysis will identify areas where you may
most benefit. You will then be linked with industry specialists to
assess your technological needs in more detail, consider then
purchase and implement possible solutions. Assistance can be given
to make better use of technology in areas including: ICT hardware /
software, manufacturing systems, quality control and energy
efficiency.
Led by Coventry University Enterprises, and part funded by the
European Regional Development Fund, the scheme is open to any SME
in West Midlands. Businesses eligible for assistance must have less
than 250 employees, a turnover of less than €50m and an annual
balance sheet of less than €43m.
To find out more visit the website The Technology Innovation Futures West
Midlands or download the flyer (228 KB), email the project
team or call 024 7615 8206.
Open to Export and UK Trade and Investment
Need guidance on how to export? Try Open to
Export or the UKTI.
Design Council's Leadership Programme
Get coaching on how design can help your business
grow, with the Leadership
Programme from the Design Council.
Heart of England Fine Foods
HEFF promotes local food producers - and is a great
resource for foodies! For more, go to
HEFF.
BITC (one of The Prince's Charities)
Could you be the next Business of the Year? Encourage
responsible business and you could be in with a chance. Find
out more at Business In The
Community.
National Enterprise Network
Join NEN and you meet other business minds, you can be part of
an organisation that influences government policy, and you can take
advantage of practical membership benefits. Find out more at
NEN.
Venture Navigator
Free online business support to start-ups and to established
businesses. Find out more at Venture Navigator.
CONNECT
A fast-track for innovation and investment. Get access
to the CONNECT network and to training from investment
professionals. To find out how, go to CONNECT.
New Enterprise Allowance
From Job Centre Plus (ie DWP) this scheme offer access to a
mentor and the support needed to start a business. It's
available to those claiming Job Seeker's Allowance. Find out more
at the
Department for Work and Pensions (DWP).
Enterprise Clubs
From Job Centre Plus (ie DWP) this scheme encourages people who
are interested in self employment to share skills and experience.
The main aim of Enterprise Clubs is to help people
make the most of local knowledge and resources to help unemployed
people in their communities set themselves up as self-employed or
start their own business.
Find out more at the
DWP.
Sector based academies
From Job Centre Plus (ie DWP) this scheme offer pre-employment
training and work placements and a guaranteed interview for
recipients of Jobseeker’s Allowance or Employment and Support
Allowance (work-related activity group), in sectors with high
volumes of current local vacancies. access to a mentor and the
support needed to start a business. It's available to those
claiming Job Seeker's Allowance. Find out more at
the DWP.
Funding from district councils
To see what grants and loans are offered in
your district for new and expanding businesses, select
your council:
Alternative sources
You can see a round-up of sources, at the
Department for Business Innovation & Skills
(BIS). But, bank loans and government grants aren't the
only options; new ways of funding businesses are constantly
springing up. Have you considered:
Peer-to-Peer or Crowd funding
Individuals invest a large or small a sum –
sometimes no more than £10 – on the basis of your business
plan. The 'crowd' gets a share in your business; you get
the capital you need.
Credit Unions
These community banks exist all over the UK
and are regulated by the same authority as high street banks – the
FSA (Financial Services Authority). Generally, no credit
checks are required. All you do is save for a few months then
apply for a loan. Check your nearest Credit Union to find out
more.
Business Angels
How it works is simple: build a convincing business case,
present it to somebody who is looking to invest their money, win
them over - bingo! See the links below, for local consortia
of investors.
Venture Capitalists
Contact us
For information on funding, call 0300 123 1440 and ask for the
Economic Development team. To contact your district council, go to
their dedicated page in this section.
Book your place
To sign up for workshops or 1-2-1 advice see the Enterprising Worcestershire web page.
1-2-1 Advice
If you can't make it to a workshop, book a
1-2-1 session by calling 0300 123 1440 or email info@business-central.co.uk
This page was last reviewed 17 May 2013 at 16:17.
The page is next due for review 13 November 2014.