|
Funding opportunities for SMEs In London there is a wide variety of agencies set up to administer funds, grants, investments and loans for small and medium – sized businesses. Here is a list of just some of the sources you could use to access information about such funds:
Business Link 4 London’ s‘ Access to Finance’ is designed to help make business grow and prosper. The programme is intended to lead you step – by – step through the process of raising finance. Businesses in the Objective 2 areas are eligible for subsidised support. It can help you to access programmes such as the Small Firms Loan Guarantee Scheme which guarantees loans from the banks and other financial institutions for small firms that have viable business proposals but who have tried and failed to get a conventional loan because of lack of security. For further information about Business Link 4 London’ s‘ Access to Finance’ scheme visit www. businesslink4london. com. For information about the Small Firms Loan Guarantee Scheme visit www. businesslink. gov. uk
3Cs is an active community, where guidance and analysis comes free – of – charge for the up – and – coming entrepreneur. It works on the theory of‘ Pay it Forward’ – the act of voluntarily helping another without expectation of payback – from the book‘‘ Pay it Forward’’ by Catherine Ryan Hyde. For further information visit www. 3cscommunity. com
The New Entrepreneur Scholarship programme is a 6 – month business planning programme with a £ 1,500 grant. It is aimed at businesses that plan to start trading within 4 – 6 months and run the business on a full – time basis within the first few months of trading. For further information visit www. nesprogramme. org
|
University of Greenwich— Creative Link. If you are a business in the creative industries in Bexley, Lewisham or Greenwich you can apply for up to £ 12,000 to help you develop systems, processes or new products. Contact the hotline on 020 8331 7711 or email first – stop @ gre. ac. uk
The Early Growth Fund run by E – Synergy, will stimulate small amounts of capital for start – up businesses that the banks or traditional venture capitalists tend to ignore. The fund is supported by a £ 2m investment by the DTI’ s Small Business Service and will be enhanced by private sector and business angel capital. Contact enquiries @ e – synergy. com or call 0207 583 3503
Enterprise Grants are available to Small and Medium sized businesses based in the Enterprise Grant Areas of England. Projects can involve expanding, modernising or restructuring an existing business or setting up a new one. The maximum grant available is £ 75,000 on projects with up to £ 500,000 capital investment. For further information contact your local government office or local BusinessLink.
Grants for Research and Development is the Department of Trade and Industry’ s( DTI) initiative that provides grants to help individuals and small and medium – sized businesses to research and develop technologically innovative products and processes. It is a competitive process, so you need to check the timing with an advisor. For further information contact www. eeda. org. uk
SME Innovation Support Programme is a £ 1.26m scheme will enable small and medium sized businesses in deprived parts of London to get
|
free expert analysis and identify technical improvements and possible new business opportunities. It will run for two years and offer financial help up to a maximum of £ 30K to firms developing new products and processes. For further information telephone 0208 223 7514 or visit www. london – innovation. org. uk
GoEast Ventures provides equity financing to support growth businesses in the Tower Hamlets and Newham areas of East London. It offers investments of up to £ 100,000 in return for shares in the business. Further information telephone 020 7456 0447 or 020 7456 0448
Funding File is a new guide to fundraising for voluntary organisations in Hackney’ s arts and cultural sector. The guide is a resource for those less experienced in accessing funding and offers information on how to go about the business of fundraising from statutory and charitable sources; how to prepare and write bids; useful background data on the borough taken from Census 2001 and other sources. To obtain a copy telephone 020 8356 7264
Inner City Entrepreneurs Fund If you have been in business for five years or more and employ five or more people, this initiative can give you up to 70 % of the cost of training and support to develop your business, your management abilities and your staff skills. The Fund covers 17 London boroughs. Applications that will develop management opportunities for black and minority ethnic employees are particularly welcomed. Visit www. theinnercity100. org for further information.
London Business Growth Fund grants are available to businesses that have been trading for at least 12 months and have a set of accounts. The
|
London Business Growth Fund offers loans to groups in the community who would otherwise be excluded from obtaining finance. Contact: loans @ one – london. com
Regional Venture Capital Funds( RVCFs) are an England – wide programme to provide risk capital finance in amounts up to £ 500,000 to Small and Medium Size Enterprises( SMEs) who demonstrate growth potential. The funds, managed by experienced venture capital professionals, are commercially focused, making commercial returns. For more information telephone 0207 812 6772 or visit www. sbs. gov. uk
The £ 4m London Business Loan fund provided by One London has been created exclusively for small businesses and entrepreneurs throughout London who have been unsuccessful with mainstream lenders. Loans are provided for both start – up and growth businesses. Two – thirds of these loans have been for ethnic minorities. For further information visit www. one – london. com
These are just some of the many funding opportunities that are available for SMEs. To find out about others contact your local enterprise agency, Chamber of Commerce or various business – related websites such as Business Link – www. businesslink. gov. uk, the Small Business Service website – www. sbs. gov. uk and London Innovation – www. london – innovation. org. uk
Chatsworth Consultancy is a business consultancy offering business advice, coaching and mentoring as well as bid writing advice for small businesses and charities. For further information telephone 07891 720073 or email chatsworth @ consultant. com
|
SPRING ISSUE ISSUE TWO 2006 engage |