Business awards and grants

Grants and loans

GrantNet is a free to use funding search site provided by Grantfinder, the market-leading grants database. This site contains the most comprehensive and up-to-date database of grants, loans and other initiatives operating in the UK. Currently it holds details on over 4,000 initiatives, including European Commission grants, UK Government grants, local government grants and grants provided by corporate sponsors and charitable trusts.

News on funding and loans

 
First phase of Energy Entrepreneurs Fund launched
The first phase of the Energy Entrepreneurs Fund, part of a £35 million fund announced earlier this year, is now open to applications. Administered by the Department of Energy and Climate Change (DECC), the Energy Entrepreneurs Fund is designed to support the UK's small and medium-sized enterprises operating in the green energy sector to propose low carbon ideas of the future. The Fund will provide financial assistance to these businesses in order to help them develop and demonstrate new low carbon technologies, services, and business models.

Young Entrepreneurs encouraged to apply for StartUp Loans
The StartUp Loans scheme for 18-24 years-olds, launched earlier this summer, is accepting applications. StartUp Britain worked with the Department for Business, Innovation and Skills to launch StartUp Loans, a new £82.5 million student-loan style initiative for young entrepreneurs in England who are planning to start a new business.

Coventry & Warwickshire Enterprise and Business Growth Package

The Package aims to provide a cohesive offer of business support tailored to meet the needs of Coventry & Warwickshire growth dynamics. The Package will establish new businesses and create new jobs by working with established firms with the potential for growth, assisting them to invest, exploit new markets and develop local supply chain opportunities. 

The £13m Package is funded by the European Regional Development Fund (ERDF), Coventry City Council, Warwickshire County Council, Coventry & Warwickshire Chamber of Commerce and private sector investment. 

The Package will be delivered from January 2012 until December 2014. 

The Package includes five strands of support for individuals and businesses located in Coventry and Warwickshire:

1. Start Up Support (Note: This element of the package is not available in Warwick District)

Targeted at:

• Individuals must be living in Coventry, Nuneaton or Bedworth
• Unemployed individuals or
• Individuals employed in low paid work or at risk of redundancy

Offer:

• Group workshops covering a range of issues faced by start ups (inc Finance, Marketing, Business Planning).
• One to one, intensive support to help individuals to start trading e.g. costing, pricing, cash flow forecasting, legal.
• Ongoing support during the first twelve months of trading.

This strand can support any kind of new business, but is aiming to start some higher growth start up enterprises.

Delivered by:

• Five Enterprise Coaches employed by the Chamber of Commerce will deliver this support.
• Contact the Chamber on 024 7665 4321.

2. Accelerated Growth Business Support:

Targeted at:

• Business must be located in Coventry or Warwickshire
• Business must be a Small or Medium Sized Enterprise (SME)
• Business must be operating within one of the ERDF West Midlands Priority Sectors.
• Businesses must demonstrate the potential for 'accelerated growth.'

Offer:
 One to one business support to

• Business Plan
• Innovate and use new technologies
• Develop new products and processes
• Access new markets
• Develop and implement financial, HR and marketing plans
• Address specific barriers to growth, including access to finance

Delivered by:

• Four Business Coaches employed by the Chamber of Commerce will deliver this support.
• Contact the Chamber on 024 7665 4321.

3. Enabling Innovation & Growth Sector Development:

Targeted at:

• Business must be located in Coventry or Warwickshire
• Business must be a Small or Medium Sized Enterprise (SME)
• Business must be operating within one of four growing sectors including: Environmental Technologies, Low Carbon Vehicles, Aerospace or Digital Technologies

Offer:
 To support growth, investment and job creation in the four specific business sectors this strand will:

• Engage with local SMEs profiling the opportunities and potential of growing sectors.
• Introduce and develop sector networks that bring together groups of businesses to collaborate, exploit the market and form new models of service delivery.
• Support SMEs to collaborate and develop realistic supply chain propositions for these growing markets.
• Work with employment support and skills providers to ensure that local people can develop the skills to take advantage of new job opportunities. 

Delivered by:

• The Business Growth Team at Coventry City Council.
• Call 024 7683 1208 for further information.

4. Resource Efficiency Business Support:

Targeted at:

• Business must be located in Coventry or Warwickshire
• Business must be a Small or Medium Sized Enterprise (SME)
• Business must be operating within one of the ERDF West Midlands Priority Sectors.

Offer:
 One to one business support to become more competitive through:

• Waste reduction
• Carbon management
• Energy efficiency 
• Environmental management and compliance

Delivered by:

• The Business Sustain Team at Coventry City Council.
• Call 024 7683 2416 for further information.

5. Access to Finance Grants:

Available to

• Start Up Grants may be available to new enterprises supported by the start up strand of the Package.
• Access to Finance Grants may be available to established SMEs engaged with the Enabling Innovation & Growth, Resource Efficiency and Accelerated Growth Business Support strands of the Package.

Offer:

• Start Up Grants of up to £2,000, offered at a 40% intervention rate.  The remaining match funding needs to be provided by the start up enterprise.
• The Start Up Grant can fund capital items including: equipment, tools, IT.
• Access to Finance Grants of up to £100,000 offered at a 10% to 30% intervention rate.  Match funding needs to be provided by the SME.
• The Access to Finance Grant can fund capital items including: building/premises, plant, machinery, equipment.

Contact:
If eligible, businesses can contact their Enterprise Coach, Business Coach or Sector Advisor for further information. 

Transport Technologies, Building Technologies, Food & Drink, Tourism & Leisure, High Value Added Consumer Products, Specialist Business and Professional Services, Information & Communication Technologies, Environmental Technologies, Screen and New Media for Education and Entertainment, Medical Technologies – Detailed definitions of these sectors apply.

Detailed Accelerated Growth criteria applies. Contact the Chamber of Commerce for further information.

Venture capital fund for creative industries

For businesses operating in the Creative Industries sector in the West Midlands and looking for venture capital there is a Creative Advantage Fund - visit the website for more information.