11th Nov 2022

New Funding Support for business announced

The government has announced new funding programmes, grants and investment funds that will be useful to Portsmouth North businesses. See the information listed below and how it could help you and your business.

Specific funding programmes

  • British Business Bank, Start Up Loans. A Start Up Loan is a government-backed personal loan available to individuals looking to start or grow a business in the UK. In addition to finance, successful applicants receive 12 months of free mentoring and exclusive business offers to help them succeed.
  • British Business Bank, Recovery Loans Scheme. This provides government-backed loans to businesses across the UK as they recover and grow following the coronavirus pandemic. It is open to businesses affected by Covid-19.
  • Help to Grow programme. The programme consists of Help to Grow: Management, scheduled to start in June 2021, and Help to Grow: Digital, scheduled to start in Autumn 2021. Very briefly, these offer a learning curriculum and discounts on software. It is possible to register in advance of the start dates.
  • GOV.UK, Innovate UK – grant funding, innovation loans and expert support. Innovate UK supports innovative UK businesses to realise the potential of new technologies, develop ideas and make them a commercial success.
  • SME Brexit Support Fund. The Fund offers grants to help small and medium-sized businesses new to importing or exporting.
  • Enterprise programme for young people – UK (Prince’s Trust). The Prince’s Trust helps young people aged 18 to 30 who want to set up their own business in the UK.

Investment funding

  • British Growth Fund. British Growth Fund is an established, independent investment company … supporting earlier stage and established private businesses, and smaller listed companies.
  • Funding Circle. Funding Circle is an online small business loans provider, listed on the London Stock Exchange.
  • British Business Bank, Angel CoFund. The Angel CoFund makes equity investments in smaller businesses in the UK. It invests alongside strong syndicates of business angels to support businesses with strong growth potential.
  • British Business Bank, Enterprise Capital Funds programme. Enterprise Capital Funds combine private and public money to make equity investments in high growth businesses. This programme aims to lower the barriers to entry for fund managers looking to operate in the venture capital market.
  • HM Revenue and Customs, Venture capital schemes

More sources of information and advice

  • Small Business Commissioner. An independent public body set up by government to tackle late payment and unfavourable payment practices in the private sector.
  • Grantfinder database for use by Library and by Members’ staff. Please ask Library staff if you need help.

Business meeting with Hampshire Chamber of Commerce