Sources of Business Funding
Adventure Capital Fund
The Adventure Capital Fund was launched in December 2002 in order to create new forms of investment in community organisations.
The fund aims to strengthen local communities by investing in organisations that work in and for their communities. By helping organisations to become stronger and more self-sufficient through enterprise, the fund aims to help each group become sustainable in the long term and better able to control their own destinies by becoming less reliant upon short-term grants.
Adventure Capital Fund, c/o Local Investment Fund, 7th Floor, Ibex House, 42-47 Minories, London EC3N 1DY
Tel: 0207 680 1028
Email: info@adventurecapitalfund.org.uk
Website: www.adventurecapitalfund.org.uk *
Business Link Kent
Business Link is the national business advice service and has pertinent information on a range of issues, including funding and grants.
26 Kings Hill Avenue, Kings Hill,
West Malling, Kent ME19 4AE
Tel: 08457 226655
Fax: 01732 841109
Email: info@businesslinkkent.com
Website: www.businesslinkkent.com *
Cooperative Action
Co-operative Action, funded by co-operative societies, provides loans to -
- promote, support and develop co-operative solutions and co-operative enterprises
- expand the Co-operative Movement
- promote the co-operative advantage and demonstrate its relevance in the UK today.
Loans are available to projects to set up or expand a co-operative, mutual or social enterprise, support employee or community buyouts of an existing business (for example to prevent closure or privatisation), buy capital equipment or property, provide working capital or to cover delayed grants and to run feasibility studies. Loans are available of £5,000 to £75,000.
Grants: Co-operative Action Limited, P.O. Box 53. New Century House,
Manchester M60 4ES
Loans: Co-operative Action c/o ICO, F227c City Road,
London EC1V 1JT
Tel: 0800 0686 727
Email: info@co-operativeaction.coop
Website: www.co-operativeaction.coop *
Dartford Borough Council
Grants of up to £250 for projects that improve the local environment - the project could be anything from improving a green area, promoting healthy eating, school recycling schemes through to using alternative technologies such as solar and wind power. Groups, schools and organisations can make one application per year and the grant can only be used for the purposes set out in the application form.
Address: Sandra Woodfall, Environmental Promotions Officer,
Dartford Bor ough Council, Home Gardens,
Dartford, Kent DA1 1DR
Tel: 01322 343056
Email: Sandra.woodfall@dartford.gov.uk
Enterprise Grants
Enterprise Grants were part of the business support package offered by the Department for Trade and Industry (DTI) and delivered by the Small Business Service. Following a review at the DTI, the Enterprise Grant scheme has been replaced with Selective Finance for Investment in England (SFI). For more details, see the section further down this page.
Enterprise Capital Funds
A Venture Capital Fund for small businesses that will be funded with public money. The scheme is being developed by the Department for Trade and Industry.
Website: www.dti.gov.uk/ *
Enterprise Loan Fund
The Enterprise Loan Fund can provide loans to those who are unable to borrow from mainstream lenders but have an idea that they believe they can capitalise on. They will consider offering loans to business start ups, expanding businesses and social enterprises. The team work with the Enterprise Agency of North Kent to ensure that support, in the form of monthly meetings, is provided so that repayments can be made and the business succeeds. Loans for start ups are limited to £5000 and to £15000 for established enterprises.
Unit 1 The Courtyard, 7a Manor Road,
Gravesend, Kent DA12 1AA
Tel: 01474 327350 Tel: 01474 327304
Email: deb.poole@businessnorthkent.co.uk
Enterprise Zones
The Government has allocated the ward of Joyce Green as an enterprise zone. This means that certain benefits are available to encourage businesses to locate here, including -
- Stamp Duty exemption on all residential property transactions up to the value of £150,000
- Tax relief for the renovation of empty business premises (announced December 2004)
- Contaminated Land Tax Credit
- Community Investment Tax Relief
- Improvements to the planning system
- Access to the Bridges Venture Capital Fund
Website: www.inlandrevenue.gov.uk/so/disadvantaged.htm#1 *
Finance South East
An independent service that has been designed for growth companies in the South East Region. They can help business to develop business plans and access finance options.
Devonshire Place, New Road, Crowthorne,
Berkshire RG45 6NA
Tel:01344 758540
Fax: 01344 762002
Website: www.financesoutheast.com *
Grant for Investigating an Innovative Idea
The aim of this grant is to help businesses based in England with fewer than 250 employees to develop their ideas by working with external experts. The outcome will be an action plan, which can then be used to take the idea forward to develop significantly improved products, processes and services.
The Investigating Innovative Ideas Secretariat, Department of Trade and Industry, Bay 712, Kingsgate House, 66-74 Victoria Street,
London SW1E 6SW
Tel: 020 7215 8671
Fax: 020 7215 4002
Email: innovative.idea@dti.gsi.gov.uk
Website: www.dti.gov.uk/innovative-idea/whatis.htm *
Grant for Research and Development
The Department for Trade and Industry's Grant for Research and Development replaces the Smart Award. It is an initiative that provides grants to help individuals and small and medium-sized businesses to research and develop technologically innovative products and processes. Support on applying for the grant is available from Business Link Kent.
- Micro Projects are simple low cost development projects lasting no longer than 12 months. The output should be a simple prototype of a novel or innovative product or process. A grant of up to £20,000 is available to businesses with fewer than 10 employees.
- Research Projects typically involve planned research or critical investigation lasting between 6 and 18 months. The result of the project could be new scientific or technical knowledge that may be useful in developing a new product or process.A grant of up to £75,000 is available to businesses with fewer than 50 employees.
- Development Projects involve the shaping of industrial research into a pre-production prototype of a technologically innovative product or industrial process. A grant of up to £200,000 is available for businesses with fewer than 250 employees.
- Exceptional Projects involve technology developments which have higher costs. These projects are likely to generate much wider economic benefits and must be recognised as of strategic importance for a technology or industrial sector. A grant of up to £500,000 is available to SMEs with a qualifying project
Business Link Kent, 26 Kings Hill Avenue, Kings Hill,
West Malling, Kent ME19 4AE
Tel: 08457 226655 Fax: 01732 841109
Email: info@businesslinkkent.com
Website: www.businesslinkkent.com * and www.dti.gov.uk/r-d/ *
New Entrepreneur Scholarship
Enterprise Agency of North Kent run a scheme for groups thinking of starting their own business/social enterprise or individuals becoming self-employed who live in deprived areas of Dartford, Gravesham, Medway & Swale. They are running completely free training (part time workshops) and free mentoring and advice sessions. There is also an opportunity for discretionary start-up grants of up to £1500 available which can be used for items such as initial rent, insurance or equipment. The scheme starts in January 2008 and the grants are available to those with at least 80% attendance & satisfactory business plan.
For further information see www.enterprisekent.co.uk/NK/nes.shtml
Tel:0845 6023954/ 01304 822351
PRIME Initiative
PRIME is a national organisation dedicated to helping people aged over 50 set up in business. They offer loans to those who are over 50, are without paid work, have a viable business plan and have been refused a loan by two financial institutions. They can lend £5,000 to individuals and £10,000 to any one business run by two or more eligible individuals.
Astral House, 1268 London Rd,
London SW16 4ER
Tel: 020 8765 7851 Fax: 0208 765 7879
Email: prime@ace.org.uk
Website: www.primeinitiative.org.uk *
Prince's Trust
The Prince's Trust helps young people by providing long term support to those who have the potential but few of the opportunities. The Prince's Trust business programme helps people aged 18-30 who want to set up a business by providing low interest loans, grants and mentors.
Tel: 01252 891330
Website: www.princes-trust.org.uk *
Small Firms Loan Guarantee (SFLG)
This scheme guarantees loans from banks and other lenders for small firms that have viable business proposals but are unable to otherwise secure a loan. Loans are available for 2-10 years and the SFLG guarantees 75% of the loan. Applications for this scheme are made to the lender *of the loan.
Address: DTI Enquiry Unit, 1 Victoria Street,
London SW1H OET
Tel: 0870 1502500 (for written information) and 020 7215 5000
Website: www.dti.gov.uk/sflg/ * and www.dti.gov.uk/sflg/pdfs/sflg_booklet.pdf *
Tax Credit for Research and Development
HM Revnues & Customs offers a tax credit for those companies spending money on research and development.
Website: http://www.hmrc.gov.uk/businesses/tmarandd-tax-credits.shtml *
Technology Programme
The Department for Trade and Industry have launched two programmes aimed at helping businesses to develop new technologies. £150m is available over the next three years (to 2007) with grants of between 25% and 75% towards collaborative projects and up to 100% for proposals that help develop knowledge transfer networks in seven priority areas -
- bio processing
- technologies to support environmentally friendly transport
- advanced composite materials and structures
- inter-enterprise computing
- renewable technologies
- disruptive technologies in electronics and displays
- sensor and control systems
Deadlines are set for receipt of applications, see the webiste for details of the latest call for proposals.
DTI Enquiry Unit, 1 Victoria Street,
London SW1H OET
Tel: 020 7215 5000
Email: technologyprogramme@dti.gov.uk
Website: www.dti.gov.uk/technologyprogramme *
Unltd Millennium Award
Unltd Millennium Awards are cash awards plus support to help make ideas a reality. They provide advice, training, mentoring and other support services. Level 1 awards, from £500 to £5,000 to help make ideas become real projects. They are aimed at individuals or informal groups of people who want to set up new projects in their spare time. Level 2 awards, from £5,000 to £15,000, support projects that are already developed.
123 Whitecross Street, Islington,
London EC1Y 8JJ
Tel: 0845 850 1122
Fax: 020 7566 1101
Email: info@unltd.org.uk
Website: www.unltd.org.uk *
Urban II
Business Infrastructure Development and Regeneration - The aim of this priority is to rebuild and make better the physical environment of the target areas and to strengthen the small and medium local businesses by enabling them to meet the challenges of the regional and national markets. The fund operates in ten wards across Dartford and Gravesham and will provide up to 35% of total project costs.
The Old Rectory, Springhead Road,
Northfleet, Kent DA11 8HN
Tel: 0845 303 2420
Email: info@urban-thames-gateway.org.uk
Website: www.urban-thames-gateway.co.uk *
Venture Capital
Venture capital provides long-term committed capital to businesses. Venture capitalists are only interested in companies that have the potential to grow very quickly so that they see a return on their investment. The Small Business Service and British Venture Capital Association offer advice on whether seeking venture capital may be an option for your business and the Small Business Service are supporting a number of initiatives to facilitate relations between venture capitalists and potential beneficiaries.
Small Business Service, Kingsgate House, 66-74 Victoria Street,
London SW1E 6SW
Tel: 0845 001 0031
Website: www.sbs.gov.uk *
British Venture Capital Association, 3 Clements Inn,
London WC2A 2AZ
Tel: 020 7025 2950
Website: www.bvca.co.uk *
- For further business advice see the business support section of this website
