Finance and funding
Getting the right type of finance for your business is essential. There are many different types available including loans, grants and investment; each of them designed to meet different needs.
If you want to know how Brexit might affect your business the Government have developed a tool to check what actions you need to take.
Forest of Dean District Council business start-up grant
Any locally based business or constituted social enterprise organisation can apply individually or in partnership for a maximum of £1,000 per application. Grant funding can be used towards a variety of business and social enterprise start-up activity including:
- research and development
- installing clean technologies
- equipment and product or service launch
To apply complete the form and email it back to us with the supporting information to Regeneration@fdean.gov.uk. More details on eligibility criteria are available in the form. For any questions email or call us on 01594 812645.
Applications are being assessed over three rounds. The closing dates are:
- 23 October 2020
- 18 December 2020
- 26 February 2021
Grants to help businesses
Boost your business with Faster broadband
Grants are available exclusively for Gloucestershire businesses that have yet to access super fast broadband and are not currently in a plan to deliver this. Grants of up to £25K of EU funding are available to access faster broadband. To find out if your business may be eligible visit the Fastershire website.
To search for specific funding to suit your business visit:
Innovate UK is the Government's innovation agency and it distributes grants to help businesses cover the cost of research and development activity. The grants tend to be competitions focussed on specific technologies which are announced at very regular intervals. Innovate UK also runs "open" competitions which are not sector specific. It is worth checking Innovate UK's website regularly for recent funding announcements.
Innovate UK's national Innovation Voucher scheme helps businesses gain the knowledge they need to innovate and grow. An Innovation Voucher helps businesses to work with an external expert for the first time by paying towards the cost of their services for all types of innovation including:
- ideas for new or improved products, processes and services
- using design to improve your ideas
- managing your Intellectual Property
Grants for research and development
The SMART Grant assists businesses, including pre-start-ups and start-ups, to run research and development projects in strategically important areas of science, engineering and technology from which successful new products, processes and services can emerge. Three types of grant are available:
- Proof of Market (up to £25,000 grant)
- Proof of Concept (up to £100,000 grant)
- Development of Prototype (up to £250,000 grant)
For more information visit Innovate UK website.
Carbon Trust Green Business Fund
Energy efficiency support, energy assessments and funding for small and medium-sized businesses in England, Scotland and Wales. For information visit The Carbon Trust Green Business Fund.
Apprenticeship grant for employers of 16 to 24 year olds
The National Apprenticeship Service provides £1,500 grants to small and medium sized employers to take on new apprentices between 16 to 24 years old. The £1,500 is in addition to the training costs of the Apprenticeship framework which are met in full for young people aged 16 to 18 and 50 per cent for those aged 19 to 24.
Loans for businesses
SWIG Finance is a not-for-profit organisation delivering loan finance across the South West to small and medium sized enterprises. For starting a business, struggling to raise finance or growing a social venture.
Start-up loan scheme
The Start-up Loan Scheme is a government funded initiative that provides a business loan together with a mentor for people starting up a new business.
Funding Circle is an online peer-to-business lending platform connecting businesses and investors, where businesses get fast business loans and investors earn returns on their investments. Funding Circle has funded over £330m in business loans so far and has created an estimated 16,500 jobs across the country. Furthermore, the UK Government has lent £60 million through Funding Circle during the past two years.
FOLK2FOLK is a national award-winning peer to peer lending platform who specialises in match-making local, rural and entrepreneurial business looking for a secured business loan to grow, develop or diversify with individual investors looking to earn an attractive monthly interest rate to supplement their income.
Enterprise Finance Guarantee
The Enterprise Finance Guarantee is a Government loan guarantee scheme. The loans are available from ordinary commercial banks and can be up to £1 million, repayable over a period of up to 10 years. The scheme is open to viable businesses with an annual turnover of up to £25m. Contact your bank for further details.
Dealing with business debt
Problems paying tax bills
HM Revenue and Customs' (HMRC) Business Payment Support Service is there to help businesses that are aware they may not be able to make a payment due in full before the payment deadline.
Organisations offering free advice on debt problems
For free, confidential and independent advice on how to deal with debt problems visit the Business debt helpline.
For free, independent, confidential and impartial advice to everyone on their rights and responsibilities and is experienced in helping with personal debt problems visit the Citizens Advice Bureau.
Further information on business finance
For further information and finance schemes that may not be listed visit Business Finance for You.