Business Funding and Finance
Every business needs a helping hand once in a while, so it’s worth being aware of potential grant funding available to you.
Click on the links below for external websites that can offer funding and finance opportunities.
Business Banking Insight (BBI)
A first of its kind website which looks at how well the UK’s small and medium-sized businesses are being served by banks. Commissioned by the Chancellor of the Exchequer, BBI is designed to help businesses make better informed banking decisions. The programme is driven by ongoing support from the Federation of Small Businesses and the British Chambers of Commerce, alongside an advisory group that includes HM Treasury, British Bankers Association, Royal Bank of Scotland, Department for Business, Innovation & Skills and the Competition and Markets Authority (CMA).
For more information or to use the programme, go to: http://www.businessbankinginsight.co.uk/
Better Business Finance
Better Business Finance provides impartial information and support to businesses and entrepreneurs looking to develop and grow; whether the business is seeking finance, or starting out or exporting abroad.
Business Wales Finance
All businesses need money and Business Wales Finance know that working out where to go to find finance and then choosing the right type can be tricky. That’s why Business Wales set up the Business Finance Zone, an advice centre designed especially for businesses in Wales.
The Welsh Business Rates Scheme
The Welsh Business Rates Scheme provides financial support for business rates liabilities incurred by small and medium-sized businesses located in the seven Enterprise Zones in Wales. The scheme which, was launched in 2013, will run until 2015/2016 and will target support at boosting job creation and business growth.
If your business qualifies for the Business Rates Scheme, you will receive up to a maximum of £55,000 (the cap on the Scheme per annum) or the business rates paid, whichever is the lower.
The Scheme is focused upon SMEs (Small and Medium Enterprises) located within Enterprise Zones that are new starts or are increasing the size of their workforce. Applications for this Round can be made from 22 June – 30 September 2015.
European Commission Grants
The Commission makes direct financial contributions in the form of grants in support of projects or organisations which further the interests of the EU or contribute to the implementation of an EU programme or policy.
gov.uk Public Funding
Find government-backed support and finance for business including grants, finance and loans, business support eg mentoring and consultancy, plus funding for small and medium-sized businesses and start ups.
Free business growth coaching and assistance raising finance from the Welsh Government
The Accelerated Growth Programme, funded by the Welsh Government and the ERDF, has set up a £20M fund to provide support to SME Companies incorporated in, planning to start up in or move to Wales. Expecting to support 1000 companies over the life of the programme (2015 – 2021), companies with high growth, job creation and export potential are eligible for support. Assistance with raising finance is just one of the skills offered.
The business wales web site Business Wales provides more details, or if you are a member of the WC & NW Chamber, feel free to contact Dr Niall Macfadyen. Niall is one of 22 specialist growth coaches in the N Wales region and can help you with any questions. If you are a suitable business or start up, your details will be passed on to the project office, who will allocate a coach with experience of your sector and a programme of support.
Northern Powerhouse Investment Fund
Northern Powerhouse Investment Fund (NPIF) is an initiative launched by the government-owned British Business Bank.
It is a key part of the government’s ‘Northern Powerhouse’ vision, which aims to end the historic North / South divide and create economic prosperity in the North of England on par with London and the South East.
NPIF aims to nurture regional entrepreneurship by providing investment and support for small and medium businesses between 2016 and 2021. NPIF’s funding will support new and growing SMEs, create jobs and encourage and attract additional private sector investment.
NPIF provides commercial finance through three types of product funds: Microfinance, Debt Finance and Equity Finance. These funds provide funding options are designed to plug common gaps in the provision of finance, giving your business access to the funding it needs to help it grow.