Business Support Phoebe Edwards, EMB. On the menu… the policy context for business support an overview of national programmes discussion about what YOU.

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Presentation transcript:

Business Support Phoebe Edwards, EMB

On the menu… the policy context for business support an overview of national programmes discussion about what YOU would like to see from SEMLEP

Business Support involves multiple players… Private Companies Universities Charities Enterprise Agencies Local Enterprise Partnerships Business Membership Organisations Local Authorities National Government

The current policy context for national support… Since 2011 the business support landscape has been transformed: Spending reductions/channel shift Support targeted for best economic return to support economic recovery Creation of space for the private sector – less interventionist

Why business support matters… 4/5ths of small businesses want to grow but only a third will achieve this Businesses that take external advice tend to do better Yet fewer than half seek external support

Support for all… Business Link Helpline Basic information and sign-posting (Mon-Fri) /starting-up-a-business /business-finance-support-finder /which-finance-is-right-for-your-business Online gateway to quality assured business mentors

Business Start Ups… Start Up Loans Currently for year olds, 5yr loans plus mentoring support Start Up Britain Campaign Product pitches, pop-up retail ops, start up bus tour

Growth Businesses… £200m programme aimed at 26,000 growth businesses delivering specialist coaching in 4 key areas: Growth strategy development Investment readiness Commercialising innovation Leadership and management development

Business that could & do trade internationally… Supporting c. 40,000 businesses this year with advice, training, grants, market information and contacts that help de- risk international trade

Manufacturers… Supporting businesses engaged in the manufacturing process with information, events, advice, grants for consultancy and signposting to other support

Businesses with new ideas… Support & funding to help businesses develop new products and services including innovation vouchers, SMART funding, knowledge transfer partnerships and feasibility studies

Businesses that need finance… Debt Finance Enterprise Finance Guarantee Community Development Finance Institutions Business Finance Partnership Equity Finance tax reliefs e.g. Seed Enterprise Investment Scheme in support of small, early stage companies Business Angel Co-investment Fund (CoFund) Capital Grants Regional Growth Fund Programmes/ERDF

Coming soon… Growth Vouchers Suggested by British Chambers of Commerce Recognises that cost & trust are key barriers to the uptake of support Vouchers worth up to £2000 to spend with registered advice providers and consultants to support key activities

Over to YOU… We need to take back the answers to 3 questions Are there key points when businesses most need support? (issues) What kind of business support do you most value? (solutions) What would encourage you to take up business support? (stimulation)