Business Support Phoebe Edwards, EMB
On the menu… the policy context for business support an overview of national programmes discussion about what YOU would like to see from SEMLEP
Business Support involves multiple players… Private C ompanies Universities Charities Enterprise Agencies Local Enterprise Partnerships Business Membership Organisations Local Authorities National Government
The current policy context for national support… Since 2011 the business support landscape has been transformed: Spending reductions/channel shift Support targeted for best economic return to support economic recovery Creation of space for the private sector – less interventionist
Why business support matters… 4/5ths of small businesses want to grow but only a third will achieve this Businesses that take external advice tend to do better Yet fewer than half seek external support
Support for all… Business Link Helpline Basic information and sign-posting 0845 600 9 006 (Mon-Fri) www.gov.uk /starting-up-a-business /business-finance-support-finder /which-finance-is-right-for-your-business www.mentorsme.co.uk Online gateway to quality assured business mentors
Business Start Ups… Start Up Loans Currently for 18-30 year olds, 5yr loans plus mentoring support www.startuploans.co.uk Start Up Britain Campaign Product pitches, pop-up retail ops, start up bus tour www.startupbritain.org
Growth Businesses… www.growthaccelerator.com £200m programme aimed at 26,000 growth businesses delivering specialist coaching in 4 key areas: Growth strategy development Investment readiness Commercialising innovation Leadership and management development
Business that could & do trade internationally… www.ukti.gov.uk Supporting c. 40,000 businesses this year with advice, training, grants, market information and contacts that help de-risk international trade
Manufacturers… www.mymas.org Supporting businesses engaged in the manufacturing process with information, events, advice, grants for consultancy and signposting to other support
Businesses with new ideas… www.innovateuk.org Support & funding to help businesses develop new products and services i ncluding innovation vouchers, SMART funding, knowledge transfer partnerships and feasibility studies
Businesses that need finance… Debt Finance Enterprise Finance Guarantee Community Development Finance Institutions Business Finance Partnership Equity Finance tax reliefs e.g. Seed Enterprise Investment Scheme in support of small, early stage companies Business Angel Co-investment Fund (CoFund) www.angelcofund.co.uk Capital Grants Regional Growth Fund Programmes/ERDF
Coming soon… Growth Vouchers Suggested by British Chambers of Commerce Recognises that cost & trust are key barriers to the uptake of support Vouchers worth up to £2000 to spend with registered advice providers and consultants to support key activities
Over to YOU… We need to take back the answers to 3 questions Are there key points when businesses most need support? (issues) What kind of business support do you most value? (solutions) What would encourage you to take up business support? (stimulation)
