Coronavirus support: Advice and guidance for businesses COVID-19 Support

Finance and Funding

Discover funding options and organisations to support your  businesses financial planning. 

Finance and funding are one of the most frequent topics businesses need access, advice and support on. Our business advisers are able to provide 1-2-1 support on business planning, can signpost you to the most relevant finance opportunities and we also offer free finance focused workshops.

As you may have seen, funding options for businesses have been announced by Government, some of which will be delivered by the Growth Hub. Processes are currently being set up and details finalised. Please sign up for our newsletter below where we will announce new information when available.

Financial support – Funding schemes and organisations 

The Finance Hub is an interactive website offering independent information on finance options for scale-up, high growth and potential high growth businesses. The Finance Hub has been built to help businesses understand and discover the finance options that could enable them to grow.

Visit the Finance Hub here.

The Department for Digital, Culture, Media and Sport (DCMS) has announced a £1.57bn rescue package to safeguard cultural and heritage organisations across the UK from the impact of Covid-19.  Historic England are administering £88m of the funding package in partnership with the National Lottery Heritage Fund.

Grants from £10,000 to £1 million and £1 million to £3 million will be offered to help applicants that were financially sustainable before Covid-19 and after exhausting all other options for increasing their resilience are now at risk of failure. The grants must be spent by 31 March 2021.

The £88m Culture Recovery Fund for Heritage offers grants to help heritage organisations or businesses to cover operating costs, assess and adapt their business models, and become financially viable.

Find out more from Historic England here.

Find out more from the Arts Council here. 

 

Finance Providers

A collaboration between the British Business Bank and 10 Local Enterprise Partnerships, including SEMLEP, MEIF provides over £250m of investment to boost small and medium business growth in the area.

The current finance programme available – a £120million fund – is composed of two separate lots: £30million of small business loans valued between £25,000 and £150,000, as well as £90million of debt finance of between £100,000 and £1.5million. MEIF is part-funded by European Regional Development Fund.

Services Offered

- Small Business Loans
- Debt Finance
- Proof of concept
- Equity Finance Funds

Find out more

A subsidiary of the British Business Bank, delivering the Government’s Start Up Loans programme. The programme provides finance and support for businesses who struggle to access other forms of finance.

Borrow up to £25,000
Fixed interest rate of 6% p.a.
1-5 year repayment term
12 months of free mentoring
Government-backed

Visit the website. 

Join the free Enterprise programme to benefit from the skills, training and mentoring to make your business a success – along with the chance to apply for a low-interest loan.

They work with the Start Up Loans Company to offer low-interest business loans up to £5,000 at a rate of 6% APR representative. A Start Up Loan is a personal loan you borrow over 1-5 years at a fixed rate for business purposes. Special circumstances.

Find out more.

Free access to a wide range of products such as business loans, commercial mortgages, asset finance, working capital, invoice finance, property loans, pension funding and funding for R&D.

Find out more.

The UK is a world leader in the creation of new forms of crowdfunding from simple donations and rewards based schemes to fully regulated investments in the businesses and projects that shape our world.

The UKCFA represents this diverse and vibrant industry and gives our members a collective voice across government, media, regulators, and most importantly, to the general public. Our members provide the platforms necessary to bring investors and fundraisers together across many industries, providing choice in this ever expanding marketplace.

Crowdfunding connects the people who want to make change with the people who want to see change happen. Whether donating or investing, crowdfunding puts people in control of their money and how it is used to affect the world around them, whether for financial return or out of a desire to make a difference for the wider good.

Visit the website. 

The UK Business Angels Association (UKBAA) is the national trade association for angel and early-stage investment, representing over 160 member organisations and around 18,000 investors. Business angels in the UK collectively invest an estimated £1.5 billion per annum and are therefore the UK’s largest source of investment for start-ups and early-stage businesses seeking to grow.

UKBAA’s members include angel networks, syndicates, individual investors, early-stage VCs, equity crowdfunding platforms, accelerators, professional advisers and intermediaries. UKBAA acts as the voice of the angel investment community and strives to build and connect the angel investment ecosystem so as to ensure a coherent landscape for financing high-potential entrepreneurs.

Find out more. 

Guidance for business and academic organisations on Innovate UK's funding competitions to test ideas and develop innovative products and services.

Find out more. 

UK Export Finance mission is to ensure no viable UK export fails for lack of finance or insurance from the private sector. Find out more about what we offer.

Find out more here. 

Accelerator, Pre-Accelerator and Fintech Accelerator programs tailored to empower entrepreneurs at any stage. It’s an amazing journey that is fully funded, and you don’t even have to be a NatWest customer.

Visit the website. 

 

Business Finance Advice and Support Organisations

The Office of the Small Business Commissioner (SBC) is an independent public body appointed by the government under the Enterprise Act 2016 to tackle late payment and poor payment practice in the private sector of the UK.

The Office of the Small Business Commissioner operates a complaints scheme where we investigate complaints from small businesses (a company with 50 employees or less) who are experiencing payment issues with larger businesses (a company with more than 50 employees) and make non-binding recommendations for the resolution of payment disputes.

Where the Commissioner considers appropriate, we may publish a report about the circumstances of the complaint. This may include identification of the parties involved in the complaint.

There are specific rules in relation to the types of complaint the Commissioner can assist with. These include the complaint must relate to late or non-payment by a larger business to a smaller business, the dispute must not be contractual, and the dispute must not be subject to or have been previously determined via the court process. However, where complaints fall outside the legal scope of the Commissioners complaint scheme, we will still do as much as we can to resolve the dispute including signpost to relevant alternative existing support and dispute resolution services.

The Office of the Small Business Commissioner can also assist small businesses by checking contracts and providing advice on getting invoices right.

We are independent but appointed by government, impartial and free to use on a non-risk basis.

For more information, visit the website here.