Southampton Business Support Event

Transcription

1 Southampton Business Support Event Brian Johnson - Solent LEP SME Ambassador & Board Director Steve Futter - Solent LEP Local Growth Programme Manager

2 01 Aim of Today Solent LEP background Achievements to date of LEP support for SMEs Current LEP SME funding opportunities Type a quote here. LEP SME funding application process What makes a good funding application? Johnny Appleseed

3 02 Solent Local Enterprise Partnership Solent is one of 38 LEPs across the country. LEPs are the lead bodies for economic development in their areas. LEPs are private-sector lead partnerships between the business community, education sector and public sector. Type a quote here. The Solent LEP vision is to create an environment that will bring about sustainable economic growth and private sector investment. Johnny Appleseed Six priority areas for investment: Skills Business Support Innovation Infrastructure Strategic Sectors Inward Investment & International Trade

4 03 National Context Industrial Strategy Green Paper Investing in Science, Research and Innovation Encouraging Trade and Inward Investment Cultivating World-leading Sectors Supporting businesses to start and grow improving access to finance for businesses looking to grow backing institutions that can catalyse private sector equity investment (particularly in places where this may be more of a problem); improving support for scale-ups and entrepreneurs by building up networks, supporting the business-led Productivity Council, and using Government data in a smarter way; ensuring the uptake of new technology and digital processes which support growth; considering whether any measures need to be taken to promote a more long-term approach to funding. Type a quote here. Johnny Appleseed

5 04 Solent LEP: SME Support Type a quote here. Johnny Appleseed Over 10m invested in SMEs since existing businesses funded 76 new businesses started up Over 1,400 jobs created / safeguarded Over 36m additional investment leveraged into supported projects Solent Growth Hub established in 2014

6 05 Available SME Funding Solent Growth Fund: Capital Investment Fund 3.2m funding available until March 2019 Bids between 80,000 and 500,000 Capital investment only Funding available as grants, loans, forward funding or equity investments Solent Growth Fund: Small Business Programme 1.8m funding available until March 2019 Bids between 10,000 and 75,000 Revenue and Capital investment Funding available as grants only Type a quote here. Both funds focused on: High-growth SMEs, new start-ups with high-growth potential and SMEs experiencing challenging trading conditions Bids must demonstrate: Development of new processes, products or services Development of new markets Creation or safeguarding of jobs Johnny Appleseed Specific sectors: Marine & Maritime, Advanced Manufacturing, Aerospace, Defence, Life Sciences & Healthcare, Digital Technologies, Digital Creative Industries, Oil & Gas, Information Economy, Construction and Clean / Green Technology Solent LEP Beneficiaries - Rapanui and 3Sci Can provide up to 20% of project costs for high-growth SMEs Can provide up to 40% of project costs for new-start ups and SMEs experiencing challenging trading conditions

7 Solent LEP Beneficiary: Williams Shipping 06 Available SME Funding Marine and Maritime SME Growth Fund 250,000 available until March 2019 Also includes New Forest District Council area Bids between 5,000 and 75,000 Capital investment only SMEs must be in the marine and maritime sector Funding available as grants only Bids must seek to create or safeguard jobs Can provide up to 20% of project costs for existing SMEs Can provide up to 40% of project costs for start-ups Support available to members of British Marine Type a quote here. Havant Business Support Fund 250,000 available until March 2019 Bids between 10,000 and 75,000 Grant/Loan/Equity Share/Forward Funding basis Capital investment only Johnny Available Appleseed for businesses in the Havant Borough Council area Bids must demonstrate: Development of new processes, products or services Development of new markets Creation or safeguarding of jobs Can provide up to 20% of project costs for existing SMEs Can provide up to 40% of project costs for high-growth potential start ups and existing SMEs experiencing challenging trading conditions

8 07 Available SME Funding Bridging the Gap: Armed Forces Fund 250,0000 funding availableuntil March 2019 Grants between 5,000 and 75,000 Capital investment only Bids must seek to create or safeguard jobs Can provide up to 20% of total project cost for established SMEs Can provide up to 40% of total project cost for start ups Available for SMEs established by the Armed Forces community or members of the community (including service leavers, veterans, spouses, families, reservists and cadets over age of 18) looking to start up their own business Launched in partnership with X-Forces Type a quote here. Isle of Wight Rural SME Fund Johnny 450,000 Appleseed funding available until March 2019 Grants between 2,500 and 50,000 Capital investment only Bids must seek to create or safeguard jobs Can provide up to 50% of total project costs Available for SMEs assisting the rural sector on the Isle of Wight Managed by Natural Enterprise Solent LEP Beneficiaries SC Vital Fitness and Living Larder

9 08 The Application Process Single stage application process Funding is open all year with regular deadlines for submission of applications Investment Panel meet regularly to consider applications Type a quote here. Applicants may be required to present to Investment Panel Johnny Appleseed If supported - funding offer letter issued If unsuccessful - feedback provided Next deadline: 5 January 2018 Solent LEP Beneficiary: Cheetah Marine

10 08 Top five common mistakes 1. Incomplete / inconsistent / hurried application 2. Not submitting supporting evidence - accounts, CVs, business plan 3. Match funding not secured - or even identified 4. Seeking funding for existing working capital costs 5. Project and job creation aims do not align with financial projections

11 09 What makes a good application? Guidance notes for the Fund have been read - and adhered to. Application is completed in full, is consistent throughout and well-focused. All additional information is submitted on time. The Business Plan is well-structured and tailored for the specific fund. Makes a strong case for investment - this is a competitive fund. Clearly demonstrates what the LEP investment will achieve. Support from Solent Growth Hub has been utilised.

12 G E T IN TOUCH! Web: info@solentlep.org.uk Phone: LinkedIn: Solent Local Enterprise Partnership

13 Supporting Business Growth in the Solent Denise Barlow

14 What is the Solent Growth Hub? The service supports SMEs based in the Solent LEP area and signposts businesses to relevant support options available to them. Whether this is training, marketing, premises, funding, mentoring, starting up or something completely different, the Navigators can help. The service is completely free and is on hand to guide businesses through the complexity of support options available.

15 Single Point of Contact The One Stop Shop component of the Solent Growth Hub is run by the Hampshire Chamber of Commerce. Act as a single point of contact for all SMEs Telephone Service Call the Navigator Triage Face to Face meeting and support Ongoing support Website Workshops Telephone Navigators Face to Face Navigators Portal Signposting to Support

16 Areas we can help SMEs

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19 Examples of who we signpost to National, Regional and Local Support DIT - Support for Exporting FE Colleges -Training & Skills Apprenticeships GOV.UK Apprenticeship Support Solent LEP - Funding Opportunities Enterprise First Start Up Support Universities Innovation/KTP/Graduates Goldman Sachs 10,000 Small Business Programme Innovate UK Innovation funding and support Rangewell Accessing Finance GOV.UK/HMRC and many others

20 Links to Local Networks Hampshire Chamber of Commerce Future South Greentech South Creative Network South Hampshire & IOW Business Alliance (HIBA) Forum Hampshire Business Directory Newsletters, Website & Social Media Business Magazines Business Events & Networking opportunities Economic Development support from councils

21 The Future Support our growing SMEs Access to Funding support Increase number of start-ups Support and safeguard jobs Improve digital capability of SMEs Support up-skilling Services to help employment Supporting, in particular, but not exclusively - the key sectors of: Engineering, Marine, Advanced Manufacturing, Creative Industries, Transport and Logistics, Aerospace & Defence plus their supply chain But really... Any business wishing to grow!

22 Call the Navigator

23 STUART STOTER EXPORT FINANCE MANAGER SOUTH EAST OXFORDSHIRE, BERKSHIRE, HAMPSHIRE AND THE ISLE OF WIGHT LINKEDIN PROFILE UK.LINKEDIN.COM/IN/STUARTSTOTER