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What Business Support is Available To Me?

What Business Support is Available To Me?

Whether you are part of an established business looking to grow or a start-up business hoping to kickstart an exciting new business venture,  finding the right support can often prove challenging. In this blog, we’ll highlight what business support is available and where you can find out more about government support for businesses. 

So, what business support is available to me? The government Help To Grow scheme was designed to help businesses develop new skills, improve services or products, develop staff and increase profit. The government also offers direct business support, including: 

  • Support with employing people
  • Funding and financial assistance
  • Training and development
  • Selling internationally 

Keep reading to learn more about the various types of business support available and where to find any key information you may need.

Help To Grow Scheme

The government’s Help To Grow Scheme is designed to help businesses develop new skills, improve their services or products, develop staff and increase overall profit. The scheme is split into two programmes, Help To Grow: Management and Help To Grow: Digital. The first programme offers management training whilst the second offers digital technology support. 

*Please note that Help To Grow Digital closed all applications in February. This programme offered support and discounts to help businesses make use of digital technology to boost their business.

Help To Grow: Management

Help To Grow Management is a 50 hour, 12-week programme aimed at leaders who want to improve their management, strategic skills and to boost their business. Courses have been running since June 2021 and are taught by leading business schools across the country through a mixture of online and face-to-face tuition. The programme helps businesses to:

  • Develop a growth plan
  • Improve resilience
  • Learn how to innovate
  • Inspire employee engagement
  • Build marketing and financial strategies 
  • Adopt digital technologies

Businesses who join the scheme will also get support from a mentor and gain access to an alumni network and peer-learning sessions. Bear in mind that there is a cost of £750 to participants, with the remaining 90% funded by the government.

What Type of Business Support is Available?

Available in all kinds of different forms, government grants help businesses grow by providing free equipment and cash awards. Generally, these grants come in the form of a direct grant. This is money given to your new business to cover start-up essentials such as training, investment in equipment or reaching new markets such as overseas exports. Some grants will expect your business to provide 50% of the value of the grant, but funds of up to £500,000 are available depending on your business sector.

The government’s business finance finder is a great place to start if you are not sure what you are eligible for. Application processes can be long and time-consuming and there is no one-size-fits-all approach. 

Business grants typically have strict eligibility criteria. These include:

  • The region you’re based in
  • The type of business you run
  • Whether the provider has an area of focus which your business could help with

We also recommend that you speak to the provider to find out what is involved in the process and whether your business is eligible for support. 

The government’s  direct support for businesses is available in all parts of the UK and is designed to help businesses grow the economy, create better-paid jobs and opportunities right across the country. 

This direct support includes: 

Employing People

The government can help you find people for your business and offer a full list of all the recruitment support and guidance available. These include:

You can also find out more about tax reliefs and allowances for businesses and employers, employment law advice or advertising your job vacancies on the GOV.UK site. 

Funding and Financial Support 

If it’s advice that you’re looking for, here is a list of places where you can access support and guidance:

  • Advice on payment issues and disputes – The Small Business Commissioner can help you resolve disputes around unfair payment practices and provide advice about how to take action if a payment is overdue. 
  • Find out more about the Energy Bill Relief Scheme – Get free Government advice on actions your business can take to improve energy efficiency.
  • Get help with tax – If you don’t understand something about your business tax, there is plenty of support available. 

Alternatively, if you are hoping to receive funding to support your business, here is a list of different schemes available: 

  • Government-backed Start Up Loan

Apply for a loan of £500-£25,000 to start or grow your business. 

  • Access the right finance 

Check what financial support might be available for your business, through equity, grants or loans. 

  • Find Angel investor networks and investment advice 

Contact the UK Business Angels Association (UKBAA) to find the right investment support, education and training.

  • Find Levelling Up Funding Projects near you

Find projects in your area and see how your business could benefit from investment.

  • Funding for research and innovation

Search current funding opportunities for research and innovation from across UK Research and Innovation (UKRI), research councils and Innovate UK.

  • Explore your finance needs through the British Business Bank (BBA)

The British Business Bank (BBA) is a government-owned business development bank dedicated to making finance markets work better for smaller businesses, whether you’re looking for finance to start a business, grow to the next level, or stay ahead of the competition.

Training 

There are a number of government programmes available for employers who are considering hiring employees, offering work experience or upskilling existing staff. Some even offer financial incentives.

Selling Internationally 

With such a huge demand for UK goods and services across the globe, we can help you find new opportunities, get country-specific advice and access specialist exporting training. 

Here are some important links to help your business understand more about selling internationally: 

See how trade agreements can benefit your exports business by buying or selling goods or services overseas.

How Do I Apply For a Government Business Support Grant?

Because each scheme is so different, you need to check that your business meets the general terms and criteria before getting too far into the application process. This is because lots of the grants are very specialist, such as creating a specific type of business or building a business that will help regenerate a local community. 

Here are some top tips when it comes to applying for a new business grant: 

  •  Talk to the grant body – talk to the grant awards body to assess your chances of making a successful application.
  • Read the grant objectives – take time to learn why this grant is being awarded and what it aims to achieve, such as hiring staff from a local community or developing environmentally friendly products. 
  •  Have a great business plan – as with other types of funding, the awards body for the grant will expect to see a professional business plan and, if you’ve started trading, examples of your business position and balance sheet.
  • Focus on the grant use – grants are usually awarded for a specific project, such as buying IT equipment or funding broadband installation. 
  • Check your funding – most grants will look to match the amount you’re willing to invest, so if you’re seeking a grant of £10,000 then make sure you’ve a matching amount available.
  • Start applying early – you’ve got a better chance of receiving a grant if you apply when a scheme first launches. Grants may have a limited amount of money to invest so if you apply early, you’ve got a higher chance of receiving funding because there’s less competition.

Business Support With Restart BTI

If you’re looking for helpful, expert advice from fully-qualified and experienced insolvency practitioners, then our team at Restart BTi are here and ready to help. With 30 years of experience, we’ve been able to provide support, guidance and source tailored solutions to each case we’ve handled. As a small business, you will be provided with in-person support that helps solve your situation quickly, efficiently and fairly.

Get in touch with our friendly and knowledgeable team today to find out how we can help your business.