Business owners who go in search of grants to assist their businesses will find a real hotchpotch of grants providers and availability. Our Corporate Finance team is constantly accessing for grants for clients: the secret to success is assessing the client’s needs and speaking directly with those who make the final decisions. If you would like further information in relation to any of the matters set out below, please contact Nick Hulme directly.

Generally speaking, the grants that are available are for businesses that are growing, looking to increased productivity and efficiency, often through the purchase of capital equipment, and/ or creating or protecting jobs.

Chamber Link can provide grants of up to 40% of expenditure up to £10,000 that will add value to a business. This can include certain non-statutory professional fees where appropriate.

Selective Finance for Innovation (SFI) can be available for larger capital projects (the minimum grant is £10,000 which must not exceed 50% of the total requirement) in Assisted Areas but only on the basis of need. SFI applications are managed by the North West Regional Development Agency.

Through the Small Firms Loan Guarantee Scheme, the DTI is able to provide banks with a 75% guarantee on loans of up to £250,000 for businesses that have been trading for less than 5 years. To be eligible, the proposition needs to be one that the bank would be looking to support itself but cannot support due to a lack of available security.

There is also a range of support available for local businesses through organisations such as BBV and Bolton Business Support Unit. This support can include free consultancy, direct support for external consultancy expenditure and also ‘soft’ loans.

13/12/2005