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External help available

There are a number of organisations that provide financial support for new or expanding businesses:

East Midlands Low Carbon Workshop

7 March 2016 PM - Leicester City Hall, 115 Charles Street, Leicester, LE1 1FZ 

In partnership with Local Enterprise Partnerships, The Department of Energy and Climate Change (DECC), the Department for Environment and Rural Affairs (DEFRA) and the Department for Communities and Local Government (DCLG) are running a Low Carbon Workshop for interested organisations in the East Midlands.

The aims of the workshop are to:

  • Provide clarity and support to LEP Partners on the European Regional Development Fund Priority Axis 4;
  • Provide technical expertise from DECC and DEFRA;
  • Provide local feedback on Priority Axis 4 delivery;
  • Address barriers to bringing forward high quality low carbon applications to the ERDF programme; and
  • Provide opportunities to network to support the development of high quality applications that meet the requirements of future local PA4 calls

A detailed agenda will be emailed out nearer the time to interested organisations. The venue can hold 100+ but it is a regional event so initially places are limited to one per organisation

If you would like to attend please contact Richard Kirkland, D2N2 on Richard.kirkland@d2n2lep.org

South Nottinghamshire LEADER funding programme

The LEADER programme is funding for economic growth in rural areas. The fund is currently closed for applications but is likely to open again in late February.

To find out more you can:

1. Check that you are within the LEADER funding area using the interactive map

2. Discuss the proposal and double check your eligibility with a member of the LEADER team - save your time now rather than waste effort if you or your proposal is in anyway ineligible to be considered for funding. Contact Craig Edson at  SouthNottinghamshire.LEADERProgramme@nottscc.gov.uk or by phone on 0115 977 2686.

Full instructions on this are included in the Outline Application Guidance (http://www.nottinghamshire.gov.uk/leadersouth/apply) - it is essential that you read this and follow the process as required or it could mean your application cannot be considered.

Please remember that this is a nationally consistent process and there is regrettably no local autonomy to allow exceptions in the processing and compliance of any aspect of the LEADER Programme.

The guidance note on the Outline Application stage is there to assist you and the Applicant's Handbook will be available imminently - sufficient information is however provided in the guidance note to support applicants through the outline stages.

The Rural Payments Agency no longer requires applicants to have a Single Business Identifier number (SBI number) at the Outline Application stage but if you wish to apply now or before any invite to the full application stage you can sign in to the Rural Payments service on the GOV.UK website.

Funding Circle

Rushcliffe has become the latest council to lend directly to small businesses via Funding Circle. Funding Circle‎ is an online marketplace to connect established businesses who want to borrow money with investors who want to invest money and get better returns.

Minimum criteria:

  • A minimum annual turnover of £50,000

  • Businesses can be sole traders, limited companies or LLPs

  • 2+ years’ filed or formal accounts

The loans can be used for all sorts of requirements including working capital, expansion capital, property and asset finance and typically, each loan is funded by hundreds of people. RBC has allocated up to £500,000 to lend to businesses through this scheme.

Customers can get more information from the team at Funding Circle on rushcliffeloans@fundingcircle.com  or by phoning 020 7832 8819.  www.fundingcircle.com/

Local Enterprise Partnership

D2N2 is the local enterprise partnership for Derby, Derbyshire, Nottingham and Nottinghamshire. Local Enterprise Partnerships are locally-owned partnerships between local authorities and businesses. They play a central role in deciding local economic priorities and undertaking activities to drive economic growth and create local jobs. More information about the LEP can be found at http://www.d2n2lep.org/About.

The D2N2 Growth Hub is the gateway for businesses in Derbyshire and Nottinghamshire who are seeking the relevant information, guidance, support, expertise, finance and knowledge they need to start up, scale up and grow their business.

The website http://www.d2n2growthhub.co.uk/  is designed to help and support local businesses. It provides information to aid developing or starting a new business in Derbyshire and Nottinghamshire, as well as providing links to key national sources of information and support across the country.

D2N2 Growth Hub

The D2N2 Growth Hub provides information on national and regional funding for Nottinghamshire based businesses and can access the Business Growth Service Access to Finance service http://www.d2n2growthhub.co.uk/access-to-finance

D2N2 Business Adviser Service – Nottinghamshire

This is an opportunity to have an impartial discussion with an experienced business adviser to discuss any business issues including but not limited to; sales and marketing, access to finance, training and recruitment, growth plans, systems and processes etc.

It can be really valuable to speak to someone outside the business who can offer solutions and support as well as a structured report and on-going advice.

The service is completely free – there is no catch – the only cost to the business is the time it will take to hold the business review, which is usually in the region of 1-2 hours. Find out more at http://www.d2n2growthhub.co.uk/

Nottinghamshire Economic Development Capital Fund

The 3rd round of the Nottinghamshire Economic Development Capital Fund is now open for applications. Full details of the application process, including guidance notes, can be found here.

Applications are invited from businesses in the County of Nottinghamshire (excluding the City Council area) for capital projects which will enable the business to grow and create new jobs. Around £2m is expected to be allocated in this round.

The first two rounds of the fund have supported businesses to improve their premises, move into new premises and purchase new machinery all of which have allowed the company to grow and create jobs for local people. 

Please read the guidance carefully, but the key points to note about the NEDCF are as follows:

  • funding is available as a grant; it is not a working capital or loan fund
  • the Fund is exclusive to companies located in Nottinghamshire (excluding the City)
  • grants are awarded for new capital projects, work should not have already started and the assets purchased must remain in Nottinghamshire
  • the project should create new jobs. It is the aspiration of the Fund that 75% of the jobs created will be at or above the Living Wage Foundation’s recommended living wage, currently £8.25
  • the grant needs to demonstrate value for money
  • this is a financial support of last resort, when all other mainstream funding routes have been exhausted
  • grants are subject to EU State Aid rules which determine the eligibility of the business and the amount of intervention which may be considered.

The closing date for applications is 4pm Monday 25th July 2016.

Please submit any queries by e-mail to ecdev@nottscc.gov.uk 

Further Support

The GREAT Business Website brings together all Government services to business in one place - http://www.greatbusiness.gov.uk/   

At the core of the website is an online tool “My Business Support”, to help businesses identify their needs and then direct them to the most appropriate public and private sector support. This can be found at: http://mybusinesssupport.greatbusiness.gov.uk/

There is a Business Support Helpline, tel: 0300 456 3565 (Monday to Friday, 9.00am – 6.00pm) that offers free advice and guidance for new and existing businesses. Businesses can get up to an hour of free, expert advice.

You can also get help via social media:

Webchat: https://businesssupport.live-chat-help.com/  

Facebook: https://facebook.com/BusinessisGREATBritain

Twitter: https://twitter.com/businessGov

Further information on business and finance support is available at Gov.uk. Their Business finance and support finder is a free to use service to help businesses locate suitable funding.

Rushcliffe Borough Council does not endorse, promote, review, or warrant the accuracy of the schemes or information provided by external parties and no liability is accepted arising from reliance upon the information accessed via this site.


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