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Finance & Grants
Accessing finance is a major issue for businesses particularly in the current climate. However there are currently a number of potential sources of financial investment and grant aid available to firms operating, or looking to establish a base, in Gosport.
The criteria for accessing funding varies according to the scheme, although a common feature of many is that they are only available to small and medium-sized enterprises (SMEs). This typically means that businesses must employ less than 250 people and have a turnover of below €40m and an annual balance sheet of less than €25m. Start-ups and sole traders are, however, eligible.
Before seeking funding of any type, it is advisable to ensure that you have a viable business proposition, often described as "investment readiness". In the first instance, visit the Business Link website to find out more on raising finance or use its business support finder for a searchable directory of funding options.
Finance South East
Finance South East is a not-for-profit organisation that works with private and public sector partners to deliver investment support and access to funding for ambitious start-up and high growth, small and medium enterprises operating in the south east region.
The Manufacturing Advisory Service
Through MAS you could access a grant of between £300-£3000 towards your next improvement project... with only a single form to complete. Put simply, this makes it more affordable for you to get your project moving and keep costs to a minimum, ensuring a maximum return on your bottom line. A standard MAS project will deliver a return of at least 66:1 against your initial investment. If your company is ambitious with the drive to grow, and you have a project in mind that will increase profits, help secure new contracts or create new jobs, MAS could help you pay for it. And make sure you succeed. Visit the MAS website to find out more by clicking here.
The Parity Trust
Do you have a great idea and can't get finance from a bank? Locally based charity, the Parity Trust provides business loans for local residents in South Hampshire, offering an alternative to borrowing from a bank or building society.
Bridging the Gap
This scheme will grant funding to entrepreneurs and SMEs with the best new business and growth proposals in the Gosport, Havant and Portsmouth areas.
The fund will aim to support at least 50 new businesses and at least 50 existing businesses. Firms must invest at least 50% of costs and 40% of the total funding pot of £2.1 million has been allocated to Gosport firms.
For full details of the fund visit www.solentlep.org.uk
Start up loans for young people
Princes Trust Enterprise
The Princes Trust supports unemployed young people aged 18-30 to work out if their business ideas are viable and whether self-employment is right for them. Depending on the outcome of this process, the programme can then offer mentoring support and, for those that really need it, financial support to start a business or mentoring support to secure goals in employment, education or training.
For more information visit the Princes Trust website
If you are aged 18-30yrs why not have a look at http://www.wsxenterprise.co.uk/start-up-loans or http://www.startupbritain.co/loans/
FREE grant-funding website
Searching for grants might be time-intensive, but luckily free resources exist to help busy business owners locate funding quicker and more effectively. j4bGrants.co.uk has been re-launched with a new-look website featuring information on all the latest European grants, UK Government grants and other sources of funding to help start and grow your business.
The site is completely free following registration, and allows you to search by business type, size or location, providing access to information that is constantly updated by a team of researchers who do the time-intensive searching for you. The opportunities are out there – you just have to find them!
