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Self-Employed news

Small business agency to face radical overhaul

By Dan Martin September 2006
The government's much criticised Small Business Service (SBS) is to be radically downsized, trade and industry secretary Alistair Darling has revealed.
Read more...
 

Small Business Agency ineffective, admits chief

Financial Times, June 20th, 2006

“State-funded support for small business is ‘incredibly complex’, ‘inaccessible’, ‘inefficient’ and ‘ineffective’, the head of the government agency charged with representing the sector has admitted.
“Martiny Wyn Griffith, chief executive of the Small Business Service, suffered an intense grilling from the Public Accounts Committee yesterday. The MP’s queried the rationale for the SBS surviving, given that the National Audit Office warned last month that the agency could not say what the £2.6 billion spent each year on supporting small businesses was achieving.
 
Grant News

Finding Funding 

The task of finding funding to support the establishment and growth of Small to Medium sized Enterprises (SMEs) is one of the hardest tasks that we have ever been involved with. So many worthwhile cases, put up by really dedicated and very knowledgeable people, just cannot get the requisite funding for one reason or another. But if it is so tough why have we chosen to become engaged in this arena?
Read more...
 

The Budget - 21 March 2007

•    A new tax credit for environmental investment will be introduced.
•    Small firms will be able to claim a 175 per cent tax credit for research and development from April 2008.
 

Selective Finance for Investment in England

DTI official statistics publication – latest Annual Report.
In the year ending March 2006, businesses in England have accepted over 400 grant offers totalling in excess of £80m.

The Grant was replaced in January 2009 by the Grant for Business Investment GBI, and no statistics are yet available for this Grant

 

RSA Wales official statistics publication – latest Annual Report

In the 7 years to end March 2006, businesses in Wales have accepted 1173 RSA grant offers totalling  £650m. These offers relate to projects with planned investment of £2.83bn with the aim of creating or safeguarding over 70,000 jobs.
 
 
The legal status of your business is not the deciding factor in assessing the availability of grants.
Your business will be assessed like any other, taking into account some or all of these factors:

  • The growth potential of the business in terms of turnover, employment and profits.
  • The nature of the investment, its up-front costs, the expected benefits and the risk involved.
  • The likely impact on the economy both locally and nationally, measured by job creation, export earnings, innovation and productivity.
  • The degree of innovation involved in the investment in terms of new technologies, opening up new markets and the development of new industries.
  • The finances of the proposed investment, the contribution from the business owner, other sources of investment and the proportion of grant funding requested in the proposal.

Grants are available for a whole range of business sectors and tend to be assessed under the type of grant. Here are some examples of types of grant available in England, Scotland or Wales:

  • Man on stairsGrants for Business Investment (from Jan 2009)
  • Regional Selective Assistance grants (RSA)
  • Grants for selfInvestment for Growth (IFG)
  • Assembly Investment grant (AIG)
  • Business Start-up grants
  • Business Growth grants
  • Business Rate Grant Scheme
  • Business Support Programme
  • Fostering Entrepreneurship Grant
  • Marketing Advice and Support Scheme
  • Innovation Grants
  • Research Grants
  • Development Grants
  • R&D Tax Credits
  • Capital Grant Scheme
  • Small Business Assistance Grants
  • Business Growth Start
  • Knowledge Transfer Grants
  • E-business Initiative grants
  • Job Creation grants
  • Relocation grants
  • Exhibitions Grants
  • Export Market Research Grants
  • Market Development Grants
  • Skills and Training Grants

The key to a successful grant application and (ensuring the optimum level of assistance is obtained) is matching business requirements and qualifying criteria with the specifics of the  grants available.

For a free assessment of what this entails, call 08454 300 270 or email us at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 
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