BUSINESS SUPPORT OPTIONS

Local Contact – Patrick Loye; e: ploye@wakefield.gov.uk  ; Tomas Hill; e: thill@wakefield.gov.uk

Business Growth Fund

  • Funds run through to 2020 offering grant support to SME businesses looking to buy Capex and/or fit out enabling works for premises.  Grant support has been extended to businesses that look to extend their premises and increase capacity.
  • Grants of up to 20% of project costs with a maximum grant of £250k. Minimum spend by the client is £50K with a minimum 12 month trading history.
  • Grant panels meet monthly. Application forms and quotes need to be completed 3 weeks before panel dates. Grants of less than £50k do not need to go to a panel but can be dealt with by the grants officer on a fortnightly basis.

Strategic Business Growth

  • Offers a package of advisory and financial support to growth SMEs.
  • Advice- 121 and 12 many support  on topics such as strategy planning, sales, marketing plus financial management and investor readiness.
  • Capital grants between £10k and £40k will be available for eligible businesses to invest in plant, equipment, machinery plus premises fit out and refurbishment. Maximum intervention rate 20%.

Access Innovation

  • Aimed at SMEs looking to develop innovative new products or processes.
  • 121 advice and help to identify innovation needs and specialist support.
  • Funding to access innovation expertise.
  • 50% funding towards accessing the right expertise, equipment or facilities available through a research organisation.
  • Maximum grant is £100k for eligible projects with a cost between £10k and £200k.
  • Examples of projects - prototyping, product testing, specialist research, automation, exploartion of new materials, supply chain opportunities.
  • *Coming soon* peer to peer networking events and workshops to support innovation.

Resource Efficiency Fund

  • Provides financial support and advice for SMEs looking to become more efficient in the way they do business and their use of energy.
  • Businesses could be eligible for a free and comprehensive efficiency assessment.
  • Grant support between £1k and £10k on a 50/50 share. (* 25/75 share on lighting projects).

Skills Service

The skills service supports small and medium sized businesses by:

  • Offering a free, comprehensive skills assessment.
  • Supporting with longer–term skills planning.
  • Sourcing the most appropriate training provision.
  • Ensuring a business is well placed to apply for future skills funding.
  • Grant Support available from June 2018.

Exporting for Growth

  • A grant programme supporting SMEs with exporting and to grow their success within international markets.
  • Grants of up to £2,000 for new exporters and up to £5,000 for existing exporters are available on a 50/50 share.

 Manufacturing Growth Programme

  • This is the new version of the manufacturing advisory service in Yorkshire and the Humber. The programme provides free advice and support to manufacturing SMEs .Growth advisers can assist in most areas of manufacturing including business strategy, marketing, process management etc.
  • Grant support is available to growth businesses with 35 % of the project cost being grant based and 65% cost by the client. Minimum grant is £1000. Average project costs could be £4000 therefore grant circa £1400. Larger grants would be considered for exceptional growth potential.

Ad-Venture

Local Contact - Mindir Paul; e: mindir.paul@ad-venture.org.uk

  • Aimed at supporting eligible new start or early years businesses through a range of interventions including grant support.
  • Start-up clients (0-12mths) need to show they have the potential to grow to £250k turnover by year 3 and take on staff. Grant support is available from £1000-£2500 for eligible business on a 50/50 share basis.
  • Young businesses (13-36mths) will need to work with one of the growth advisers and take their turnover through £500k and 5 staff within 3 years. Grant support is available from £2500-£25000 on a 50/50 share basis.

Digital Enterprise Programme

  • Digital Growth Voucher Phase 3 opens April 23rd 2018, and will last approx. 9weeks.
  • Growth voucher value between £2000 to £10000 with variable intervention rate (50%-90%)
  • Intervention rate determined by Economic Impact and Digital Transformation of each individual project.
  • £1000 Connectivity Voucher is available to assist with the cost of a new higher speed connection and any hardware or software associated with it. An upgrade in connection that doubles broadband speed up to 30mbps or more will also qualify.