Southampton Business Support Event Brian Johnson - Solent LEP SME - - PowerPoint PPT Presentation

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Southampton Business Support Event Brian Johnson - Solent LEP SME - - PowerPoint PPT Presentation

Feb 22, 2024 189 likes •428 views

Southampton Business Support Event Brian Johnson - Solent LEP SME Ambassador & Board Director Steve Futter - Solent LEP Local Growth Programme Manager 01 Aim of Today Solent LEP background Achievements to date of LEP support for SMEs

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Southampton Business Support Event

Brian Johnson - Solent LEP SME Ambassador & Board Director Steve Futter - Solent LEP Local Growth Programme Manager

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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

www.solentlep.org.uk

01 Aim of Today

  • Solent LEP background
  • Achievements to date of LEP support for SMEs
  • Current LEP SME funding opportunities
  • LEP SME funding application process
  • What makes a good funding application?
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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

www.solentlep.org.uk

02 Solent Local Enterprise Partnership

  • Solent is one of 38 LEPs across the country.
  • LEPs

are the lead bodies for economic development in their areas.

  • LEPs

are private-sector lead partnerships between the business community, education sector and public sector.

  • The Solent LEP vision is to create an environment

that will bring about sustainable economic growth and private sector investment.

  • Six priority areas for investment:
  • Skills
  • Business Support
  • Innovation
  • Infrastructure
  • Strategic Sectors
  • Inward Investment & International Trade
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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

www.solentlep.org.uk

03 National Context

Industrial Strategy Green Paper

  • Investing in Science, Research and Innovation
  • Encouraging Trade and Inward Investment
  • Cultivating World-leading Sectors
  • Supporting businesses to start and grow
  • improving access to finance for businesses

looking to grow

  • backing institutions that can catalyse private

sector equity investment (particularly in places where this may be more of a problem);

  • improving

support for scale-ups and entrepreneurs by building up networks, supporting the business-led Productivity Council, and using Government data in a smarter way;

  • ensuring the uptake of new technology and

digital processes which support growth;

  • considering whether any measures need to be

taken to promote a more long-term approach to funding.

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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

www.solentlep.org.uk

04 Solent LEP: SME Support

  • Over £10m invested in SMEs since 2012
  • 188 existing businesses funded
  • 76 new businesses started up
  • Over 1,400 jobs created / safeguarded
  • Over £36m additional investment leveraged

into supported projects

  • Solent Growth Hub established in 2014
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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

www.solentlep.org.uk

05 Available SME Funding

Solent Growth Fund: Capital Investment Fund

  • £3.2m funding available until March 2019
  • Bids between £80,000 and £500,000
  • Capital investment only
  • Funding available as grants, loans, forward funding or equity

investments

Solent Growth Fund: Small Business Programme

  • £1.8m funding available until March 2019
  • Bids between £10,000 and £75,000
  • Revenue and Capital investment
  • Funding available as grants only

Both funds focused on:

  • High-growth SMEs, new start-ups with high-growth potential and

SMEs experiencing challenging trading conditions

  • Bids must demonstrate:
  • Development of new processes, products or services
  • Development of new markets
  • Creation or safeguarding of jobs
  • Specific sectors: Marine & Maritime, Advanced Manufacturing,

Aerospace, Defence, Life Sciences & Healthcare, Digital Technologies, Digital Creative Industries, Oil & Gas, Information Economy, Construction and Clean / Green Technology

  • Can provide up to 20% of project costs for high-growth SMEs
  • Can provide up to 40% of project costs for new-start ups and SMEs

experiencing challenging trading conditions

Solent LEP Beneficiaries - Rapanui and 3Sci

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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

06 Available SME Funding

Marine and Maritime SME Growth Fund

  • £250,000 available until March 2019
  • Also includes New Forest District Council area
  • Bids between £5,000 and £75,000
  • Capital investment only
  • SMEs must be in the marine and maritime sector
  • Funding available as grants only
  • Bids must seek to create or safeguard jobs
  • Can provide up to 20% of project costs for existing SMEs
  • Can provide up to 40% of project costs for start-ups
  • Support available to members of British Marine

Havant Business Support Fund

  • £250,000 available until March 2019
  • Bids between £10,000 and £75,000
  • Grant/Loan/Equity Share/Forward Funding basis
  • Capital investment only
  • Available for businesses in the Havant Borough Council area
  • Bids must demonstrate:
  • Development of new processes, products or services
  • Development of new markets
  • Creation or safeguarding of jobs
  • Can provide up to 20% of project costs for existing SMEs
  • Can provide up to 40% of project costs for high-growth potential

start ups and existing SMEs experiencing challenging trading conditions

Solent LEP Beneficiary: Williams Shipping

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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

07 Available SME Funding

Bridging the Gap: Armed Forces Fund

  • £250,0000 funding availableuntil March 2019
  • Grants between £5,000 and £75,000
  • Capital investment only
  • Bids must seek to create or safeguard jobs
  • Can provide up to 20% of total project cost for established SMEs
  • Can provide up to 40% of total project cost for start ups
  • Available for SMEs established by the Armed Forces community or

members of the community (including service leavers, veterans, spouses, families, reservists and cadets over age of 18) looking to start up their own business

  • Launched in partnership with X-Forces

Isle of Wight Rural SME Fund

  • £450,000 funding available until March 2019
  • Grants between £2,500 and £50,000
  • Capital investment only
  • Bids must seek to create or safeguard jobs
  • Can provide up to 50% of total project costs
  • Available for SMEs assisting the rural sector on the Isle of Wight
  • Managed by Natural Enterprise

Solent LEP Beneficiaries – SC Vital Fitness and Living Larder

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www.solentlep.org.uk www.solentlep.org.uk

–Johnny Appleseed

“Type a quote here.”

Solent LEP Beneficiary: Cheetah Marine

  • Single stage application process
  • Funding is open all year with regular deadlines

for submission of applications

  • Investment Panel meet regularly to consider

applications

  • Applicants may be required to present to

Investment Panel

  • If supported - funding offer letter issued
  • If unsuccessful - feedback provided
  • Next deadline: 5 January 2018

08 The Application Process

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www.solentlep.org.uk

08 Top five common mistakes…

  • 1. Incomplete / inconsistent / hurried application
  • 2. Not submitting supporting evidence -

accounts, CVs, business plan…

  • 3. Match funding not secured - or even identified
  • 4. Seeking funding for existing working capital

costs

  • 5. Project and job creation aims do not align with

financial projections

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www.solentlep.org.uk

  • Guidance notes for the Fund have been read -

and adhered to.

  • Application is completed in full, is consistent

throughout and well-focused.

  • All additional information is submitted on time.
  • The Business Plan is well-structured and tailored

for the specific fund.

  • Makes a strong case for investment - this is a

competitive fund.

  • Clearly demonstrates what the LEP investment

will achieve.

  • Support from Solent Growth Hub has been

utilised.

09 What makes a good application…?

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GET IN TOUCH!

Web: www.solentlep.org.uk Email: info@solentlep.org.uk Phone: 02392 688924 Twitter: @solentlep LinkedIn: Solent Local Enterprise Partnership

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Supporting Business Growth in the Solent

Denise Barlow

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The service supports SMEs based in the Solent LEP area and signposts businesses to relevant support options available to them. Whether this is training, marketing, premises, funding, mentoring, starting up or something completely different, the Navigators can help. The service is completely free and is on hand to guide businesses through the complexity of support options available.

What is the Solent Growth Hub?

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Single Point of Contact

The One Stop Shop component of the Solent Growth Hub is run by the Hampshire Chamber of Commerce.

  • Act as a single point of contact for all

SMEs

  • Telephone Service – Call the Navigator
  • Triage
  • Face to Face meeting and support
  • Ongoing support
  • Website
  • Workshops

Signposting to Support

Face to Face Navigators Telephone Navigators Portal

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Areas we can help SMEs…

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www.solentgrowthhub.co.uk

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  • National, Regional and Local Support
  • DIT - Support for Exporting
  • FE Colleges -Training & Skills
  • Apprenticeships GOV.UK – Apprenticeship Support
  • Solent LEP - Funding Opportunities
  • Enterprise First – Start Up Support
  • Universities– Innovation/KTP/Graduates
  • Goldman Sachs – 10,000 Small Business Programme
  • Innovate UK – Innovation funding and support
  • Rangewell – Accessing Finance
  • GOV.UK/HMRC

and many others

Examples of who we signpost to…

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Links to Local Networks

  • Hampshire Chamber of Commerce
  • Future South
  • Greentech South
  • Creative Network South
  • Hampshire & IOW Business Alliance (HIBA) Forum
  • Hampshire Business Directory
  • Newsletters, Website & Social Media
  • Business Magazines
  • Business Events & Networking opportunities
  • Economic Development support from councils
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The Future

  • Support our growing SMEs
  • Access to Funding support
  • Increase number of start-ups
  • Support and safeguard jobs
  • Improve digital capability of SMEs
  • Support up-skilling
  • Services to help employment

Supporting, in particular, but not exclusively - the key sectors of: Engineering, Marine, Advanced Manufacturing, Creative Industries, Transport and Logistics, Aerospace & Defence plus their supply chain… But really... Any business wishing to grow!

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Call the Navigator 01329 820898

www.solentgrowthhub.co.uk

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STUART STOTER

EXPORT FINANCE MANAGER SOUTH EAST – OXFORDSHIRE, BERKSHIRE, HAMPSHIRE AND THE ISLE OF WIGHT

STUART.STOTER@UKEXPORTFINANCE.GOV.UK LINKEDIN PROFILE UK.LINKEDIN.COM/IN/STUARTSTOTER