Growth

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Projects

Aura Innovation Centre

March 8, 2018 - February 28, 2021

The Aura Innovation Centre (AIC) will create a facility focused on proactively promoting and supporting research and innovation in low carbon technologies as well as their adoption through the commercialisation of new and innovative low carbon products and services.

By providing the focal point for interactions between the knowledge base and business, the AIC will create a conducive environment for the strengthening of commercial links between research institutions and industry as well as helping to change small business attitudes towards innovation.

Business Growth Programme

October 1, 2018 - September 30, 2021

The Business Growth Programme will enhance the resources of the existing Humber Business Growth Hub through the provision of a range of interventions aimed at enabling SMEs in the Humber to grow and become more productive.  It will encourage and support businesses to grow and develop by delivering the following activities:

  • One-to-one advice to determine the needs of the client, including a detailed diagnostic and development of an action plan of support required to achieve growth objectives
  • A comprehensive programme of workshops / masterclasses, delivered by industry experts across a range of topics (see below)
  • A Leadership Development programme for senior leaders and managers within SMEs with a potential for growth
  • Voucher support to SMEs based on projects identified through one-to-one advice and support
  • Electronic delivery – development of a suite of webinars, online content, and information available through the Growth Hub Website

The programme will focus on delivering support in the following areas:

  • Business model, culture and structure
  • Business Planning
  • Marketing and communications
  • HR and Recruitment
  • Improving market and customer awareness and understanding
  • Sales process and pitch
  • Pricing
  • Supply Chain and Procurement
  • Resource Efficiency

Finance for Growth

June 1, 2018 - May 31, 2021

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

Northern Powerhouse Investment Fund

February 28, 2017 - February 28, 2022

The Northern Powerhouse Investment Fund (NPIF) has over £400m of funding available for SMEs in the NPIF area.  It is providing micro-finance, debt and equity investment aimed at creating sustainable economic activity through supporting new and growing businesses.  Provision is as follows:

Microfinance

  • For start up or existing business
  • Loans of £25k – £100k
  • Example deals include:
    • Working capital
    • Funding expansion projects
    • Financing commercial premises
    • Asset acquisitions

Debt Finance

  • For businesses that can demonstrate growth potential
  • Business loans from £100,000 – £750,000
  • Example deals include:
    • Working capital
    • Hire a new team
    • Purchase new machinery
    • Move to larger commercial premises

Equity Finance

  • Early stage or late stage equity funding
  • For businesses with ambitious plans or large start-ups with high growth potential
  • From £50,000 – £2million
  • Example deals include:
    • Growth capital
    • Working capital
    • Capital Expenditure
    • Relocation

The fund managers appointed to manage the Northern Powerhouse Investment Fund in the Humber are are:

  • Microfinance: Finance for Enterprise & Business Enterprise Finance
  • Business Loans: Enterprise Ventures
  • Equity Finance: Enterprise Ventures

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