Delivered as a product of the Humber Business Growth Hub, this three year programme of investment readiness support is focused on enabling SME businesses to access finance.
It provides an intensive Humber-wide programme of support through a network of specialist advisors and associated small grants scheme that will cover up to 40% of the eligible costs of SME beneficiary projects which will enable them to become investment ready.
The programme will:
- Enable SMEs to take full advantage of the growth opportunities provided by the right package of finance
- Deliver a comprehensive programme of workshops and masterclasses
- Provide targeted grants (up to 40% of eligible costs) where part of a specific growth and investment strategy
- Assist SMEs to understand investor requirements and develop corresponding strategy/business plans
- Assist SMEs to understand and negotiate the financial support landscape
- Provide specialist support in relation to company growth plans
- Support the assembly of tailored packages of finance to aid SME growth and expansion
- Grow awareness and understanding of the various finance options available including equity finance
- Signpost to other relevant support, expertise and development opportunities
Project Dates
June 1, 2018 - May 31, 2021
Project Sponsor
Hull City Council
Location
Humberwide
Funding
£1,556,673 ERDF investment through the Humber ESIF Programme – total investment including match funding £2,594,455.
Outputs
The scheme is expected to deliver support to 250 SMEs and provide grant support to 118 beneficiaries. It will support the creation of 50 new employment opportunities and leverage £963k of private sector investment.
Approval Status
Business case approved
Delivery Status
Started
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