Demystifying Growth Support and Grants in Worcestershire

Demystifying Growth Support and Grants In Worcestershire

• Welcome/Intro – Kevin Brent

• Working in Partnership in Economic Development – Sue Crow

Worcestershire Business Central – Phoebe Dawson

• Accessing Grant Funding – Georgina Harris

• The Business Accelerator Programme – Kevin Brent

• Case Studies

• Close – Kevin Brent

• Buffet Lunch/ Networking

www.worcestershire.gov.uk

Sue Crow Economic Growth and Investment Manager


Our Corporate Objectives We have spoken to more than 1,500 local businesses, to ensure our investments match business priorities

• Support the growth of existing businesses

• Provide direct support, to start-ups, to help them survive and then grow

• Improve skill levels in the county and support the development of a skilled workforce

• Attract inward investment into the county

• Supports the Strategic Economic Plan - increase GVA by £2.9bn and created 25,000 extra jobs by 2025


Open For Business How will we judge progress?

• An increase in the number of jobs in our key economic sectors

• Increased Gross Value Added (GVA) of Worcestershire’s economy

• An increase in the average salary for Worcestershire based jobs

• Improving coverage and take-up rates of superfast broadband


Infrastructure Priorities• Rail - Worcestershire Parkway Rail Station, • Road The Southern Link Road (A4440) /A38 Bromsgrove.


Infrastructure PrioritiesImprovements in access to superfast broadband by both business and residents

• Development of Key Employment Sites: including Worcester Six, Malvern Hills Science Park, Redditch Eastern Gateway and South Kidderminster Enterprise Park


EU Business Support Programme

• Over £10m programme, part-funded by the European Regional Development Fund, available until Sept 2019.

• A range of dynamic business support and grants which are aimed to help businesses to start up, grow, innovate and expand in Worcestershire.

• Grants from £1,000 up to £50,000 can be accessed for capital and revenue projects.

• These projects will create in excess of 1,000 new jobs supporting over 2000 local companies.


Working in Partnership


Launch Events Worcestershire Business Support

Programmes. • 17th May, 8-10.30am – Sixways Stadium, Worcester

• 25th May, 9-11.30am - Avoncroft Museum, Bromsgrove

Any Questions?

Phoebe DawsonGrowth Hub Manager

Our MissionTo support all Worcestershire Businesses to achieve the success that enhances the economic sustainability of the region.This will be delivered by providing impartial, tailored support, advice, guidance and signposting to help local businesses grow.

The story so far..... •Based at Herefordshire and Worcestershire Chamber of Commerce, co-location model

• Engagement, Intelligence, Referrals•Partnership

Partnership

Our team •Dedicated and experienced team

•Signpost to best and most relevant area of support

•Build and develop relationships

Funding

Support available.... • Department for International Trade• Worcestershire Loan Fund• Manufacturing Growth Programme• Inward Investment• Worcestershire Growth Fund (13/4)• Worcestershire Apprenticeships• Support from your District Council• University of Worcester Scale-Up Programme• Support for innovation

Dates for your diary

• Launch European Programmes17th May- Sixways Stadium 8.30am25th May – Avoncroft Museum 9.30am• 6th June - Launch of Midlands Engine Investment Fund

Any Questions?

BUSINESS SUPPORT PROGRAMMES IN NORTH

WORCESTERSHIRE

ELIGIBILITY CRITERIA

• Age of Business• Size of Business• Business Sector• Who your customers are• Job Creation• Eligible Expenditure• Linked Support

APPLICATION PROCESS

• Nothing retrospective• Application Form• Supporting Documents (business plan, financial

information, quotations, tender documents)• Grant Panel – Decision• Offer Letter• Accepting the Offer• Grant Claim• Project Outputs

INELIGIBLE EXPENDITURE

• Recurring costs, eg stock, rent, rates, wages etc

• Vehicles

• Items purchased via a hire purchase agreement or similar financial instrument

• Internal costs

ELIGIBLE COSTS

Capital Expenditure• Machinery• Equipment• Software

ELIGIBLE COSTSProduct Development:

• Concept development• Prototyping• Testing• Product launch• IPR protection• Accreditations

ELIGIBLE COSTSMarketing:

• Market research• Carrying out market development studies• Marketing materials• Exhibitions• Product branding & logos• Website development

ELIGIBLE EXPENDITUREProperty:

• New build including extensions to property• Internal structural works• Internal refurbishment• Building information modelling• Lighting• Heating• Roller shutter doors• Double / triple glazing

ELIGIBLE EXPENDITUREOther:

• Relocation costs• Large scale renewables• Cyber security software

WHO CAN HELP?

GBS LEP Growth Hub:[email protected] 032 3488

Worcestershire Business Central:

[email protected] 677 888

Contact Details:

NWedR:[email protected] 601 5953

Any Questions?

Any Questions?

“Think about how you

can ‘scale up’ your

company from the

moment you set it up”

Strategy

People

Execution

Cash

What’s Included?• Average of 18 hrs support

• 12 hours 1-2-1• 6 hours small groups

• Access to matched funded (45%) development grants

• Max contribution £20k

Who’s Eligible?• Be located in Worcestershire and have traded for 24 months or

more • Have short term aspirations that will enable them to grow the

business and create at least one new FTE job • Have the potential and motivation to grow • Be an SME and meet the De Minimis State Aid Criteria • Be trading “Business to Business” rather than Business to Consumer

How Does it Work?

Working Together

Additional Support

Any Questions?

Robert Poole/ David Lincoln-

Lewis

Samantha Coxhead

David Lynes

www.business-central.co.uk/

Dates for your diary

• Launch European Programmes17th May- Sixways Stadium 8.30am25th May – Avoncroft Museum 9.30am• 6th June - Launch of Midlands Engine

Investment Fund