Financial Support for Businesses
You may be surprised to know that there are various pots of funding and financial support opportunities available to businesses, in addition to normal business finance solutions. Here at Ellacott Morris, we’ve collated a few sources below, which are available to Essex businesses.
As you would expect, grant funding has very specific eligibility criteria, with several grants targeting businesses that are championing innovation, sustainability, tech developments or having a positive impact on the environment. Read on to find out if your business venture is entitled to any financial support or contact us to discuss any specific funding requirements.
Local Authority Funding
https://www.gov.uk/find-local-council
A good place to start researching which grants are available is your local authority. The Local Enterprise Partnerships (LEPs), that were instigated by the government in 2011, were recently absorbed into individual local authorities, but the South East LEP website still contains useful contact details for specific geographical areas – please see https://www.southeastlep.com/
For Essex based businesses, another good source of information is the Essex County Council website - https://www.essex.gov.uk/business/start-or-grow-your-business/funding-options-essex-businesses - where various funding options can be viewed.
UK Research & Innovation (UKRI) Funding
https://www.ukri.org/
UKRI invests in research and innovation projects across the UK. Supporting sectors such as biotechnology, biological sciences, engineering, medical research, the environment and more, you can use their website to search and see if your company might be entitled to a fellowship, grant, loan or other support.
University of Essex – Angels@Essex
https://www.essex.ac.uk/business/angels-at-essex
The University Enterprise Zone formed Angels@Essex to connect Angel Investors (think Dragon’s Den) with innovative entrepreneurs with a passion for disruptive and creative thinking. Amazingly, innovative entrepreneurial-led companies secured a staggering £60m of funding in just 42 months after being supported by Angels@Essex. So, if you’re an outside of the box thinker with an idea that challenges the norm, get in touch with Angels@Essex.
Department for Environment, Food & Rural Affairs (DEFRA)
https://www.gov.uk/guidance/funding-for-farmers#full-publication-update-history
If you own a business that falls into this category, then it is worth exploring the various DEFRA grants and funding opportunities. Supporting a raft of objectives including net zero carbon emissions, improving animal health and welfare, reducing flood risks, improving agricultural and horticultural productivity, sustainability and resilience and much more, there are various options available.
In addition to the possibilities above, there is also support available in the form of finance or mentoring, for many new business ventures in our area.
As always, we’re here to offer help and advice to boost your business productivity and profit, so if you’re in need of assistance, let our expertise make your journey in business less stressful and more rewarding.
Contact Ellacott Morris today and let’s take your business to the next level!
