Helping hands
Helping hands We're not promoting UK Government-run Business Links, although they are an excellent source of advice. There are hundreds of alternative sources - you just need to know where to look.
There isn't a business in the country that doesn't need some form of money or help. Usually owners turn to the standard forms of finance and advice - banks, credit companies or discount factors - if money is needed; management and recruitment consultants - if it's business or employment advice they're after.
However, there are hundreds of alternatives to the traditional sources; many are either free or subsidised, depending on the need, the sector of commerce and geographic location; you just need to know where to look.Business Link is a great resource, for advice on health and safety, IT and e-commerce and employment, through to taxation, finance and marketing.
Even better, if you go to www.businesslink.
gov.uk, you can search for information on various programmes and projects that can help your business grow and thrive.
What follows is a taste of the help that is available; treat it both as a learning experience and a sample - you just never know what you're going to find.EMPLOYMENTJob Introduction Scheme.
This provides a grant to contribute towards the costs of employing a disabled person during the first six weeks of employment. The job can be either full or part time and the maximum amount of the grant is £75 per week.
However, the work trial must last for at least six months after the grant period ends. Although nationwide, the scheme is administered on a local level by the Disability Employment Advisors.
Contact your local job centre to find the advisor for your area.New Deal Employment Option: Employers' Subsidy.
Under this programme, businesses who take on new employees aged between 18 and 24 are offered a subsidy of up to £60 per week for six months, and up to £40 per week for a part-time post; with £750 also available towards the cost of training.The catch? Employees must attend an education establishment at least one day a week.
There is a similar programme for those over 25. In this case, there is a weekly subsidy of £75 available for six months for employers to help with the wage of a full-time employee and £50 for part-time employees.
There is the option of offering a trial period to employees before taking them on, on a more permanent basis. Contact the local Jobcentre or Jobcentre Plus office for more information.
STEP. If it's inexpensive brainpower you need, try The Shell Technology Enterprise Programme.
It aims to help independent businesses with fewer than 250 employees 'develop their potential by utilising the skills of undergraduates' at an affordable cost.STEP can help a business define a project and find an appropriate undergraduate to work on it for the business during eight weeks in the summer (July and August).
STEP can also arrange shorter non-summer placements and longer projects (up to 12 months).The student undertakes an agreed business-related project pre-defined by the company.
STEP projects are particularly suitable in an area where the company does not have the time, resources or in-house skills to devote to it. STEP students are paid a weekly training allowance of £180 per week, free of tax and National Insurance, for an eight-week summer project.
Companies may also be asked to make a contribution to the student's travel expenses. Depending on local circumstances, participating businesses may be eligible for a subsidy.
FINANCEEnterprise Management Incentives - UK. If you have a business idea that might be a little risky, you may find it harder to recruit the right people.
This scheme can provide tax advantaged share options to help small higher risk companies recruit and retain employees with the skills that will help them grow.They are also designed to reward employees for investing their time and skills in helping small companies achieve their potential.
Companies and employees must fulfil the Enterprise Management Incentive conditions to be eligible.Enterprise Investment Scheme.
Another - possibly unthought of - source of finance is the money that can be raised from individuals who can invest between £500 to £150,000 per tax year in qualifying businesses and receive tax relief on the investment subscription.Under the EIS an investor can become a paid director - this is to encourage investment by business angels who may be able to provide valuable management expertise.
Businesses seeking this funding must have no more than £15 million worth of assets, and be a trading company that carries out its trade wholly or mainly in the UK. Small, high-risk companies are eligible to applyThe Prince's Trust.
This offers young people aged 18 to 30 who want a start in business with various grants, low interest loans, advice lines and educational grants.Prince's Trust Test Marketing Grants are available to businesses to test the market to establish if there is a need for a product or service.
Grants are available for any type of business.The maximum amount is £250 and it is available to those who are unemployed or employed in a part-time or inadequate job, who have a good business idea.
INNOVATIONResearch and Development (R&D) Tax Credits. SMEs with good ideas may be eligible.
Under the scheme, a company can increase the amount that it deducts for qualifying R&D spending when it computes its profits for tax purposes to 150%. Only companies can claim.
A company that is not in profit can surrender its qualifying R&D losses (including the R&D tax relief) to the Exchequer in exchange for a cash payment, worth 24% of the spending on R&D. This is called the payable R&D tax credit.
HM Revenue & Customs makes the payment.R&D tax relief and the payable R&D tax credit can be claimed by a company even though it has not started to trade for tax purposes.
To claim, the business must have an eligible R&D spend of over £10,000 per annum.Grant for Investigating an Innovative Idea.
The DTI can also help with innovation. Businesses or individuals who have an idea to develop an innovative product, process or service, but are not sure whether they are ready to take it forward successfully, may be able to receive help from the Department of Trade and Industry.
Businesses and individuals will identify weaknesses and barriers to successful implementation of their innovative idea by undertaking analysis with a chosen mentor prior to submitting an application. The weaknesses and barriers will form the basis of the application for a grant.
The grant, if approved, will reimburse some of the costs of the project mentor and consultants.The maximum grant is £12,000, with most grants between £2500 and £7000.
Small and medium-sized businesses, or individuals who intend to start trading, in England are eligible to apply if they meet the EC's SME eligibility criteria.They must also demonstrate they are financially viable and need the grant for the project to proceed.
EXPORTINGPassport..
. to Export Success.
If you want to expand into overseas trade, there is help available from the Government. New and inexperienced exporters can receive assistance with training, planning and ongoing support to help them overseas.
There are many services that users can access including a free objective assessment of the company's capability for export; free help from a locally based expert in international trade, who will provide mentoring and help with the development of an individual export plan.Also, subsidised training on specific skills needed to win export business; subsidised use of the UK Trade & Investment export service with market research, export sales leads, foreign language trade literature.
UK Trade & Investment can also provide certain matched subsidies to assist the business in achieving its international objectives; and a subsidised visit to an overseas market.To qualify businesses must employ fewer than 250 employees and meet other EU definition criteria for small and medium-sized enterprises.
Trade Partners UK Support for Export Marketing Research. There is another source of funding for visiting overseas markets in order to undertake market research, employ outside consultants, and buy published market research - The British Chambers of Commerce.
Here you can apply for 50% of eligible costs between £100 and £20,000.Any British businesses, trading for at least two years, which have fewer than 500 employees and are able to export their products or services can apply.
These must be mainly of UK origin, exportable from the UK, and have a proven track record. Separate divisions within a business or group may not apply.
Sales and promotional trips, and attendance at trade fairs are not funded.REGIONALThe sample programmes above are nationally available.
But there are plenty of projects that can help your business, depending where in the UK you are based.New Entrepreneur Scholarships (NES) - England.
This programme aims to help those with a business idea with support, mentoring and funding. It's available to individuals living in disadvantaged parts of England, to encourage business start-ups and growth.
The maximum available is £1500 and to qualify you must live in one of the 1250 most disadvantaged areas of England. Individuals must be over 18 and have found it difficult in the past to access business support.
Website Development Subsidy - West London. If you need to get online - and live in parts of West London - support for businesses wishing to develop or significantly upgrade their website or e-commerce capabilities is available.
In particular this programme will help with business competitiveness; business growth; safeguarding or creating jobs; and marketing the business within the UK and internationally.Eligible businesses can receive grant funding to help with the design and development of a website, as well as ongoing advice and support to enable the business to maximise the potential of the new technology.
Businesses can receive a grant to cover up to 50% of costs to a maximum of £1,000. To qualify, businesses must be located in the Park Royal area of London, which includes the following boroughs of Ealing, Brent and Hammersmith and Fulham.
UK Steel Enterprise Ltd - Share Capital. UK Steel offers finance to help with business start-ups, expansion and management buy-outs or buy-ins.
It can even help provide suitable premises in which start-up and developing businesses can locate.Financial help is available for sums between £15,000 and £150,000, and to qualify the applicant must be a small and medium-sized manufacturing and related service business in the 21 UK Steel Enterprise operating areas in England, Scotland and Wales.
Accelerator Fund. This scheme for the South East of England provides loans to SMEs with the potential for significant growth.
It offers sums between £25,000 and £100,000 for a three to seven-year period (with capital repayment holidays available).Businesses must have a completed business plan including financial accounts and projections. Applicants must have a clear growth strategy.
