Business Funding Derby
Getting the right level of support, whether coaching/business support or real hard cash, is key to many organisation’s growth needs. The good news is that there are a number of government backed Derby funding schemes – all explained below.
Funding typically falls into two categories;
- Funding to help pay paying for external expertise (typically in the form of business coaching and/or advice, leadership & management development, sales & marketing, innovation etc.).
- Funding to help towards capital investment of some kind to push the business forward (typically offsetting the cash investment required against a capital project such as IT, improving supply chain, manufacturing etc.). Such funding is typically between 30-50% of project costs and is in the form of a grant or loan.
Derby Coaching for Success – runs till May 2015
An initiative between EMB, University of Derby and The East Midlands Chamber (formerly DNCC) – the scheme seeks to help those sole traders, partnerships and limited companies who are based within the Derby City District.
[column width=”1/3″ position=”first” ]Mark Bateman, an approved Derby Coaching for Success Coach, has been successful in utilising the funding on behalf of a significant number of Derby’s businesses. [/column] [column width=”1/3″ position=”last” ] [/column]
The scheme is flexible enough to allow for a range of business initiatives designed to help a business grow.
The range of services for which funding can offset costs include;
- Business growth planning, financial restructuring, strategy development, marketing planning, change management, web design / development, search engine optimisation, business expansion planning, accessing new markets, product development / diversification, succession planning, developing quality management systems, HR strategy planning and development, process improvement systems and design costs for marketing.
Typically the scheme allows for a doubling or trebling of your investment. There are three price points, £250, £500 and £1400 (all plus VAT). Depending on how many staff you are looking to take on over the next year or so, we can access a number of packages for you.
Business Funding Derby Case Study:
Dentspeed are a Derby based paintless dent repair company. Tony Hodgson, the Managing Director, was seeking business coaching to grow his business. After meeting with Mark Bateman, of Welcome Insight, Tony signed up to a range of services designed to help him grow. These included business coaching and online marketing. Within six months Tony has trebled the size of his business and continues to grow quickly.
“Working with Mark Bateman has been instrumental to my growth. Business planning, challenging my thinking, giving me a real belief I can do this, as well as the online marketing services has catapulted by business forwards. I whole heartedly recommend him and the funding has made it more affordable”.
If you are interested in seeing whether you can apply – hurry as the scheme is due to be terminated in May 2015. Call Mark on 01332 42 21 21 to see whether we can utilise the funding for you and your business.
Business Growth Services – formerly Growth Accelerator
Growth Accelerator, now part of Business Growth Services (and incorporating Manufacturing Advisory Service (MAS)), has been around for a number of years and is government/Europe backed and operates UK wide. It’s primary purpose is to offering support to businesses with the potential to improve and grow.
Welcome Insight are an approved Business Growth Coach provider. We can help you to achieve your potential by identifying barriers to growth and providing tailored support that fits your needs.”
The type of support available includes; including coaching, consultancy, mentoring, training, access to finance and export advice.
With £160 million being earmarked between April 2015 and April 2017 – it is designed for businesses who want to grow. The range of services for which funding can be utilise include;
- Business development growth – utilising a range of business interventions (coaching, sales & marketing, consulting)
- Leadership & management development – offering matched funding for training of key/senior people within the business, up to £2000 per person*
- Growth through innovation – utilising and developing approaches to innovate – driving growth
- Access to Finance – understanding and where applicable gaining access to additional funding/finance
“Mark has made us think about running the business in a completely different way and it is opening up opportunities we had never imagined possible before.”
Lisa Wills, Partner, John M Lewis & Co.
Derby Enterprise Growth Fund
Derby Enterprise Growth Fund (DEGF) is a £20m grant and loan funding scheme to support businesses in the business funding Derby area. The funding is part of a £40m Regional Growth Fund programme to support local business growth.
DEGF aims to provide the minimum level of funding necessary for a project to take place, normally up to a maximum of 30% of the total project costs and £10,000 per new full-time-equivalent job created.
You can find more information on the DEGF website – though if you are interested in applying bear in mind we might be able to gain funding to help pay towards putting together the required business plan to attract the level of business funding Derby you are looking for.
If you are based outside the Derby City District, there are equivalent schemes covering Derbyshire, and the East Midlands (in fact covering most of the UK).
Derby University Regional Growth Fund – Invest to Grow
At the end of November 2014 Derby University was successful in winning a bid to support growing businesses across the East Midlands.
Invest to Grow programme is designed to support established private sector businesses to innovate, grow and create jobs. £16m of Regional Growth Fund monies are now available to businesses in the East Midlands.
The grants or loans – according to the needs of the business – are available for around 30% of the cost of investment to help create long term sustainable job growth. The business has to find around 70% of the project cost.
Minimum award size is £15,000, so the minimum project cost is likely to be £50,000. Maximum award size is £1m.
The programme is aimed at growth sectors such as Transport Equipment Manufacturing, Medicine/Bio-science, Construction, Food & Drink Manufacturing, Logistics, Low Carbon. More information can be found on their website.
Summary – Business Funding Derby
If you are looking for business funding Derby – hopefully this article has provided you with more information. To find out more, please call on 01332 42 21 21 today, or email us at email@example.com. If we can’t help you we will be honest and pass you to someone who can.
“I contacted Mark via the Coaching for success scheme – a very valuable growth accelerator scheme. Right away Mark got down to helping me focus on tangible steps to achieve a complex new service launch. Mark was both challenging & supportive – getting the balance right was critical in quickly developing trust.
Mark never made the sessions about him; it was always about me and my needs, the project, defining the routes to success and plotting and planning how to achieve them. Overall it was an 11/10 experience.”
Capt Chris Garner (CEO, Healthcare).
* As with all funding and grant bodies, rules change depending on funds, changes in rules etc. For exact details please call us on 01332 42 21 21.