Grants and Finance

In this section, you will find information on grants, loans and other related support. If you need any further information or help in identifying appropriate grants, finance or other support for your business, call the Economic Development Team on 01684 862151 or email ecodev@malvernhills.gov.uk

Grants

Malvern Hills Business Start Up Grant

The aim of the scheme is to support new Malvern Hills District based businesses. The scheme will encourage the occupation of vacant commercial premises, help regenerate town centres, stimulate entrepreneurship, create new jobs, and enhance the sustainability of new businesses.

Start-ups can apply for a grant of up to £500, or up to £750 if they are moving into business premises that are liable to business rates. The grant must be match-funded, pound for pound (at least), from the business’s own resources.

For more information and to apply, download the Malvern Hills Business Start Up Grant Application Pack.

Malvern Hills Business Booster Grant

The aim of the scheme is to support growing Malvern Hills District based businesses and enable them to make a step change in their development. Successful applicants will be offered a grant of up to £2,000 which must be match-funded, pound for pound (at least), from the business’s own resources.

The scheme will be delivered in rounds; the last round had a deadline of 20th April 2012, there are currently no further rounds planned.

For more information, please contact the Economic Development Team on 01684 862151.

Rural Economy Grant

The £60 million Rural Economy Grant (REG) scheme provides large grants of between £25,000 and circa £1 million (no set upper limit) to enable a significant ‘game-changing’, transformational performance in farm, forestry, tourism, agri-food businesses and micro businesses in rural areas in England. Project applications will need to demonstrate that as a result of a grant their business will achieve a significant step change in performance (such as job creation, increased turnover, access to new markets etc).

Outline applications for Round 1 must be submitted by 5pm on 30th April 2012.

For more information, visit: rdpenetwork.defra.gov.uk/funding-sources/rural-economy-grant. If you are thinking about submitting an Outline application or have any questions about REG, it is recommended that you to contact the West Midlands RDPE Delivery Team on 01905 768854 or at rdpedeliverywestmidlands@defra.gsi.gov.uk to discuss your project ideas.

Grant for Business Investment

Grant for Business Investment provides capital grants to businesses to support sustainable investment in England.

The scheme closed for new applications from 1 February 2011, except for large exceptional projects and applications to DECC from offshore wind equipment manufacturers.

For more information, visit the BIS website.

New Grant for Research and Development to Support Innovative SMEs

A new Technology Strategy Board scheme is offering funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge that could stimulate UK economic growth.

Three types of grant are available:

• Proof of market
• Proof of concept
• Development of prototype

The maximum funding available will be £25,000 for proof-of-market grants, £100,000 for proof-of-concept grants and £250,000 for development of prototype grants.

Pre start-ups, start-ups, and small and medium-sized businesses from all sectors across the UK may apply; applications are accepted on a rolling basis for assessment by independent experts.

You can find more information and apply here.

The Eurostars Programme – Research Funding for SMEs

The Eurostars Programme, which is the first European funding and support programme to be specifically dedicated to Small and Medium sized Enterprises (SMEs) has announced that the next deadline for applications is Autumn 2012.

Under Eurostars, funding is available to SMEs to undertake research and development in any technological area, but it must have a civilian purpose and be aimed at the development of a new product, process or service. 

Eurostars supports collaborative projects involving at least two participants (legal entities) from two different Eurostars participating countries. In addition, the main participant must be a research-performing SME. Eurostars will support projects that are market-driven and that have a maximum duration of three years. In addition, projects must be within two years of completion and ready for launch onto the market. The exception of this rule applies to biomedical or medical projects, where clinical trials must be started within two years of project completion. 

UK participants in a Eurostars project are eligible for up to 50% funding on eligible costs up to a maximum grant level of €300,000 per UK partner.

For more information and to apply, visit the Eurostars website.

Shell Springboard

The Shell Springboard programme provides a financial boost to innovative, low carbon business initiatives from across the UK. The objective is to encourage businesses to see climate change responsibilities as more than compliance and cost. Up to eight awards of £40,000 are available through the programme in each of the 3 UK regions, and up to 2 businesses from each of the 3 regions will then meet a national judging panel prior to the announcement of an overall UK winner. 

Applications are accepted from sole traders, partnerships, limited companies or community interest companies (including government or university spin-outs) that operate in the UK. Businesses must have been established for a minimum of three months and have less than 250 employees. The application process for 2012 has now closed.

For more information, visit the Shell Springboard website. 

Innovation Networks

Innovation Networks offers grants of £10k (revenue or capital) to West Midlands SMEs working with at least 2 other regional SMEs on the development an innovative new product, process or service. Grants are quick and easy to apply for and help is available throughout the application process.

For more information please e-mail Innovation@cad.coventry.ac.uk or call Gill Roberts on 024 7623 6391.

Regional Growth Fund

The Regional Growth Fund (RGF) is now a £2.4bn fund operating across England from 2011 to 2015. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment. It aims particularly to help those areas and communities which were dependent on the public sector to make the transition to sustainable private sector-led growth and prosperity.

Round 3 of the Regional Growth Fund (RGF) is now open: £1bn is available for this round, the closing date for applications is 13 June.

For more information and to apply, visit www.bis.gov.uk/policies/economic-development/regional-growth-fund 

Loans / Equity Finance

Impetus

Impetus is a Community Development Finance Institution that can provide access to loan finance for new and emerging businesses and social enterprises that have been unable to access sufficient funds from mainstream lenders. They can provide funds of up to £50,000.

Further information can be found on their website, www.impetus-marches.co.uk, or by contacting them via telephone 01386 556000 or email info@impetus-marches.co.uk.

Exceed – Midlands Advantage Fund

The Exceed – Midlands Advantage Fund supports growing businesses across the West Midlands region. The £18 million fund is an investment by Lloyds Development Capital (LDC), Advantage West Midlands and the European Regional Development Fund (ERDF). The fund can invest between £250,000 and £750,000 into small and medium sized enterprises across a range of sectors.

For more information visit: www.midven.co.uk/Exceed-Midlands-Advantage-Fund/

Early Advantage Fund

The Early Advantage Fund is a finance for business product, funded in part by the Solutions for Business portfolio of publicly funded business support. The £8m Early Advantage fund provides investment for small businesses within the West Midlands region. The fund can make an initial investment of up to £125,000 if matched by private money, and can invest a further £275,000 in later rounds. The fund is open to high growth start up, early-stage and medium-sized enterprises with or without revenues. Eligible companies will initially be raising investment of up to £500,000.

For more information visit: www.midven.co.uk/Early-Advantage-Fund/

Other Related Support

Small Business Rate Relief

Are you aware that you could benefit from Small Business Rate Relief? If your business property has a rateable value of less than £18,000 you may qualify for Small Business Rate Relief (SBRR). For more information, visit the Small Business Rate Relief page.

Business Debtline

Business Debtline is a national telephone helpline for the self-employed and small businesses with debt problems. The service is free, confidential and independent and provides self-help advice to its callers and also produces written self-help packs and fact sheets to back this up. Expert advice on the full range of debt issues from dealing with tax arrears to avoiding repossession of home and business is offered. Visit the Business Debtline website for further information.

Business Payment Support Service

The Business Payment Support Service, introduced by HM Revenue & Customs (HMRC), provides a dedicated helpline for customers who are worried about being able to pay taxes owed to HMRC (e.g. corporation tax, VAT, PAYE, income tax, National Insurance contributions).

If you're worried about being able to meet tax, National Insurance, VAT or other payments owed to HMRC, or you anticipate that payments coming due will cause you problems, you can call their Business Payment Support Line to discuss payment options to help you deal with temporary cashflow difficulties.

HMRC Business Payment Support Line: 0845 302 1435. The helpline is open seven days a week.

For more information, visit www.hmrc.gov.uk/payinghmrc/problems/bpps.htm

Consumer Credit Counselling Service

The Consumer Credit Counselling Service (CCCS) is a national charity that specialises in giving free advice to people in financial difficulty.  Perhaps all you need is some help to set a budget or maybe you have a more serious problem  - perhaps requiring a debt management plan - CCCS will be able to help.  Unlike many debt management companies - CCCS do not charge for their services - so you can be reassured that the advice they provide has your interest at heart.  CCCS also has a free online debt counselling aid called CCCS Debt Remedy.

Tax Help

For help in understanding what you need to do about tax, visit www.businesslink.gov.uk/taxhelp. Here you will find a series of bite-size videos providing a helpful overview on a range of tax issues, including setting up in business, income tax for the self-employed, corporation tax and VAT. A free guide for new and small businesses entitled "Giving your business the best start with tax" is also available.

Finance Worcestershire 

Accessed via a website, Finance Worcestershire is a free-to-search database of grants, loans, venture capital and other finance options. Search results are tailored to the individual company's situation – based on their size, location, sector and need. The database shows finance provided by district councils as well as national and European schemes. All businesses – from sole traders to large corporations – can search the site. The information is provided by Idox Solutions and is checked and updated weekly.

Visit: www.financeworcestershire.co.uk/