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

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 • Current LEP SME funding opportunities “Type a quote here.” • LEP SME funding application process • What makes a good funding application? – Johnny Appleseed www.solentlep.org.uk www.solentlep.org.uk 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. “Type a quote here.” • The Solent LEP vision is to create an environment that will bring about sustainable economic growth and private sector investment. – Johnny Appleseed • Six priority areas for investment: • Skills • Business Support • Innovation • Infrastructure • Strategic Sectors www.solentlep.org.uk www.solentlep.org.uk www.solentlep.org.uk • Inward Investment & International Trade

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 “Type a quote here.” where this may be more of a problem); • improving support for scale-ups and entrepreneurs by building up networks, supporting the business-led Productivity – Johnny Appleseed 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. www.solentlep.org.uk www.solentlep.org.uk 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 “Type a quote here.” • Over £36m additional investment leveraged into supported projects • Solent Growth Hub established in 2014 – Johnny Appleseed www.solentlep.org.uk www.solentlep.org.uk 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 “Type a quote here.” 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 – Johnny Appleseed • 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 www.solentlep.org.uk www.solentlep.org.uk www.solentlep.org.uk Solent LEP Beneficiaries - Rapanui and 3Sci • Can provide up to 40% of project costs for new-start ups and SMEs experiencing challenging trading conditions

Solent LEP Beneficiary: 06 Available SME Funding Williams Shipping 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 “Type a quote here.” 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 – Johnny Appleseed • 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 www.solentlep.org.uk www.solentlep.org.uk conditions

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 “Type a quote here.” start up their own business • Launched in partnership with X-Forces Isle of Wight Rural SME Fund – Johnny Appleseed • £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 www.solentlep.org.uk www.solentlep.org.uk Solent LEP Beneficiaries – SC Vital Fitness and Living Larder

08 The Application Process • Single stage application process • Funding is open all year with regular deadlines for submission of applications • Investment Panel meet regularly to consider “Type a quote here.” applications • Applicants may be required to present to Investment Panel – Johnny Appleseed • If supported - funding offer letter issued • If unsuccessful - feedback provided • Next deadline: 5 January 2018 www.solentlep.org.uk www.solentlep.org.uk Solent LEP Beneficiary: Cheetah Marine

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 www.solentlep.org.uk

09 What makes a good application …? • 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. www.solentlep.org.uk

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

Supporting Business Growth in the Solent Denise Barlow

What is the Solent Growth Hub? 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.

Single Point of Contact The One Stop Shop component of the Solent Growth Hub is run by the Hampshire Chamber of Commerce. Telephone Portal • Act as a single point of contact for all Navigators SMEs Face to • Telephone Service – Call the Navigator Face Navigators • Triage • Face to Face meeting and support • Ongoing support Signposting to Support • Website • Workshops

Areas we can help SMEs …

www.solentgrowthhub.co.uk

Examples of who we signpost to … • 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

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