Funding Help

Business Support Guides

We have produced Business support guides for start-ups and existing businesses, and includes details of business advisors, financial options, networks etc.                                  

Grant Funds

Meet the Expert £1,000 grant opportunity

Grant Call coming in January 2022.  Access a fixed sum £1000 for external consultancy support.

Are you an SME or start up business looking for financial support? Not sure exactly what you need?

If you are looking for new ways to develop and grow your business, then ‘Meet The Expert’ Business Support Programme is for you. The support available is funded by the European Regional Development Fund (ERDF) and is completely free to SMEs across Devon.

‘Meet The Expert’ offers a bespoke service so if you are interested to pursue this and would like an appointment please contact me direct.

Appointments will be made on a first come first served basis.

Limited availability - for appointments in 2022 please contact Kate Whitta Kate.Whitta@plymouth.gov.uk

European Structural Investment Funds (ESIF) Growth Programme

Schemes are coming on stream and being administered centrally via a national ‘call’ process. To view current ‘calls’ visit the ESIF GOV.UK webpage then tick Location: South West but note that this indicates calls within the South West as a whole. Each call has its own specifications including LEP area(s) covered.

European Maritime Fisheries Fund (EMFF)

EMFF opened in 2016 and will run until 2020 or until all available money has been allocated. It will open on a phased basis; with phases covering some of the 6 broad categories covered by EMFF which are: Fishing vessel energy improvements; Investments on board vessels; Improvements to shore based facilities; Partnerships and information sharing; Seafood processing and investments in fisheries management and Aquaculture, animal health and inland fishing.

Loans (Non-Bank and Non-Asset Finance)

Wellcomefunding

Their funding schemes support indiviguals, teams, resources, seed ideas, places and major initiatives in the following areas:

• Biomedical science
• Population health
• Product development and applies research
• Humanities and social science
• Public engagement and creative industries

Energy Efficiency Financing Scheme

Debt finance for purchase of equipment to make operations more efficient and lower energy costs. Terms to match with energy savings.

ReEnergise Smart Energy Finance

The ReEnergise Smart Energy Fund provides access to finance for renewable energy and energy efficient projects.  Commercial energy projects from around £25,000 to £250,000, applicable to commercial businesses, farms and estates, schools, local authorities, communities and charities.

A choice of loan, lease or hire purchase facilities according to your requirements up to 100% of equipment and installation costs with terms of up to 10 years.

Start Up Loans

Finance for entrepreneurs who are at least 18 years old with a great idea and a passion to succeed. Need to have completed a business plan and financial forecasts. Average loan size of around £2,500.

Enterprise Finance Guarantee Scheme (EFG)

EFG is a loan guarantee scheme designed to facilitate additional lending to viable SMEs lacking the security or proven track record for a commercial loan.

Export Enterprise Finance Guarantee Scheme (ExEFG)

ExEFG facilitates the provision of short term export finance to viable SMEs which lack the security necessary to obtain such facilities commercially.

Equity

There are a number of Venture Capital/ Private Equity firms active in the South West. Each will have a focus in terms of sector and/or size of investment etc. In addition the following are potential sources of equity funding.

Business Growth Fund

A commercial fund which looks to provide long-term equity funding to established businesses, typically with turnover of £5m+ and strong growth potential. BGF provides growth capital investments of £2-10m for a minority stake and is very flexible. Some cash-out to shareholders but no buy-outs.

The Angel CoFund

The fund is able to make initial equity investments of between £100,000 and £1m into SMEs alongside syndicates of business angels, subject to certain geographical restrictions and an upper limit of 49% of any investment round.

Enterprise Capital Funds (ECF)

ECFs are commercially focused funds that bring together private and public money to make equity investments in high growth businesses. The programme invests into funds on terms that improve the outcome for private investors when those funds are successful. More information available through the British Business Bank website.

Crowdfunding

The South West is well represented in the growing area of “Crowdfunding”; with local representatives in equity, peer to peer lending and rewards based funding platforms. Examples of crowdfunding platforms available:

• Equity - Crowdcube
• Debt - Folk 2 Folk and Funding Circle
• Reward - Crowdfunder

British Business Bank

Whilst the British Business Bank does not provide funding directly to smaller businesses. It does work in conjunction with private sector partners to enable businesses to access more finance, from a greater number of providers, through a wider range of products.