Financial Assistance
There are several private and government sources of financial assistance when expanding your business to North England. Some of them are listed here. Our business expansion experts can provide more detail and serve as a central point of access to grants and loans.
UK Assistance
The Grant for Business Investment (GBI) in England is a discretionary grant designed for businesses investing in selected areas of the UK. Funding is typically up 15 percent costs on fixed assets. Higher levels of support are possible, particularly for high quality, innovative, knowledge-based projects within small and medium-sized businesses that provide skilled jobs. The attached PDF offers detailed guidelines on the opportunity.
North England Assistance
Local authorities in North England can provide assistance packages to companies expanding here. These packages may combine financial incentives and other forms of assistance such as:
- Job creation grants
- Assistance in creating a business plan
- Business rates or rent-free periods
- Assistance setting up a site
- Employee training
- Energy savings
Regional Venture Capital Funds may provide loans and equity of up to £1,000,000. Support for smaller start-ups include the Small Firms Loan Guarantee, small loans and other packages.
R&D Assistance
Financial assistance is available for companies undertaking research and development in North England. The UK government provides R&D tax credits that lower business taxes or, for some small and medium-sized firms, offer a cash grant.
Industry Specific Financing
Depending on your sector there also may be industry-specific funding available. We can provide more information.
- Renewable Energy: Financial support is available from the Marine Renewables Deployment Fund, The Carbon Trust's Applied Research Programme, The Department of Trade and Industry's Grant for Research and Development, Envirolink Northwest and the Joule Centre.
- Creative Media: The Design and Creative Fund provides financial support to early-stage design and creative companies. The Regional Attraction Fund provides funding to companies with ambitious strategies in TV, film, games and interactive and mobile content.
