There is a wealth of funding for small businesses available via various government and non-government initiatives.
Here we look at some of the main schemes which could help your business expand and grow.
Business Growth Fund - available up till 2020 offering grant support to SME's looking to buy Capital expenditure or fit out enabling works for premises.
The Grants available are of up to 20% of project costs exclusive of vat with a maximum grant of £250k. Minimum spend by the client is £50K with a minimum 12 month trading history. More details here.
Retail Enhancement Fund - exclusive scheme to assist start up retail businesses in hot spot areas in Castleford, Pontefract and Wakefield Centre. Aimed at start up and existing business to take on space in specific areas to stimulate new business. Contact the LEP for more details.
Resource Efficiency Fund - The resource efficiency fund is a new scheme to help SMEs reduce energy, water consumption and better manage waste costs. Businesses could be eligible for a free efficiency assessment. Grant support between £1k and £10k on a 50/50 share. Contact the LEP for more details.
Ad-venture - new programme aimed at supporting eligible new start or early years businesses through a range of interventions including grant support. Pre start clients need to show they have the potential to grow to £250k turnover by year 3 and take on staff by year 4.Grant support is available from £500- £2500 for eligible business on a 50/50 share basis. Contact details here.
Manufacturing Growth Programme - new version of the manufacturing advisory service in Yorkshire and the Humber. The programme provides free advice and support to manufacturing SMEs. Growth advisors can assist in most areas of manufacturing including business strategy, marketing, process management etc. Grant support is available, contact details here.
Leeds City Region Revolving Investment Fund - Short term, commercial loans of over £1 million are available through the Leeds City Region Revolving Investment Fund (RIF) to support infrastructure and construction projects which help deliver economic growth and job creation within the Leeds City Region. More details here.