Funding is essential for any business. Once you’re established in the UK, you’ll be able to benefit from a large number of different UK business funding, grants and support options.
There is a wide range of Government support available to businesses locating in the UK, in two main categories: research and innovation funding, and debt and equity finance.
Many national level funds provide targeted support for organisations that are developing innovative solutions to emerging challenges across industries. Businesses in UK can apply for research and innovation based funding opportunities, including:
UKRI provides grants aimed at helping businesses unlock the full potential of emerging technologies and apply them in creative ways. It aims to de-risk, enable and support innovation across the UK by directly funding organisations and research collaborations with great ideas.
Since 2007, UKRI has invested around £2.5 billion into business innovation in the UK, with match funding from industry taking the total value of projects above £4.3 billion.
Learn more at https://www.gov.uk/government/organisations/uk-research-and-innovation
The Small Business Research Initiative (SBRI) is a programme aimed at giving small businesses the resources and opportunity to solve major government challenges. It’s aimed at helping the public sector benefit from the innovative ideas of growing businesses, and accelerate technology adoption across government bodies and organisations.
More than 2,200 SBRI contracts have been issued since 2009, valued at over £270 million.
Learn more at https://www.gov.uk/government/collections/sbri-the-small-business-research-initiative
Small and medium sized businesses in the UK can earn cash payments and corporate tax reductions from the government simply by investing in new products, processes and services.
The Research and Development Tax Credits programme was created to drive UK businesses towards new advances in their fields by providing clear financial incentives. The tax credits give companies the freedom and confidence to pursue new ideas, and can even be claimed on unsuccessful projects.
Learn more at https://www.gov.uk/guidance/corporation-tax-research-and-development-rd-relief
Debt and equity finance are the backbone of business funding. In the UK, you’ll find no shortage of options for both. Government-operated and promoted debt and equity finance options include:
Operated by the British Business Bank, Enterprise Finance Guarantee provides loans to small businesses that are unable to meet the loan terms set out by retail banks. To date, it has provided over £3.3 billion in finance to organisations that couldn’t have raised the funds otherwise.
This programme ensures that organisations with great ideas have a way to succeed in the UK, even when their current situations can’t secure them direct funding through traditional channels.
Learn more at www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance-guarantee/about-efg/
The Angel Co-Fund provides equity investments of between £100,000 and £1 million to growing businesses in the UK. It brings smaller businesses together with strong syndicates of business angels to not only provide finance, but also support growth and share expertise.
This fund provides organisations that are new to the UK with a simple way of connecting with private investors and business angels in the country. Rather than having to make connections independently, businesses can secure investment directly through the programme.
Learn more at www.british-business-bank.co.uk/ourpartners/angel-cofund/
The Seed Enterprise Investment Scheme (SEIS) connects investors with growing businesses in the UK, and provides investing parties with tax relief, in exchange for funding high-potential UK businesses.
It’s an exciting and mutually beneficial programme that connects investors with companies that they can truly make a difference to, and ensures that everyone gains from the relationship right from the beginning.
Learn more at www.seis.co.uk
You can find out more about setting up a business in the UK here.
Whether you’re looking to locate in Cornwall, or to start exporting beyond its borders, get in touch with our friendly team to talk through your needs.