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Funding Round-up – Business and Employment (part 2), April 2023
Here is another collection of funding rounds from local and national organisations focusing on business and employment themes aimed at helping charities continue their work.Due to the varying nature and progress of public policies and other related activity, MVA do advise that some of the information below may have changed since the time of its issue, and whilst every effort has been made to provide up-to-date details, they ask that readers please check with each organisation’s website for the latest news.
The Capify £40m SME Fund
A £40Million Fund has been launched to support established Small and Medium-sized Enterprises (SME) and similar companies that are struggling with increasingly challenging economic conditions.
The SME fund from Capify was created in response to the growing concerns about access to finance from traditional lending sources and the impact that has on the ability of SMEs to deal with the effects of inflation.
Capify say business owners are able to apply for loans of between £5,000 and £500,000, which can be used for any business purpose.
This can include purchasing new stock, refurbishing business premises, buying a new piece of equipment, or to help with cash flow.
SMEs across the UK that are already trading as a limited company or limited partnership may apply, as well as businesses with ambitions to expand or invest in new equipment, facilities, or technologies.
At the time of writing, there was no specified deadline, suggesting applications could be made at any time.
More information and how to apply can be found at the Capify website.
Start-up Loans from UK Government
The Government have created a funding programme designed to encourage entrepreneurship in the UK, increase the rate of business creation and improve survival prospects.
Delivered by The Start Up Loans Company (SULCo), The Start Up Loans Programme is being funded by the Department for Business, Energy and Industrial Strategy (BEIS).
SULCo advise that as well as loans (from £500 to £25,000, at 6% interest) the programme also offers free mentoring and support to individuals starting a new business or have been trading for less than three years.
At the time of writing, there was no specified deadline, suggesting applications to this programme can be made at any time.
More information can be found at the SULCo website.
Innovate UK - SMART Grants
The UK Government is offering access to Smart grants for game-changing and disruptive ideas from business, through a regular, competitive application process.
Managed by Innovate UK (IUK) organisations can apply for a share of up to £25 Million for game-changing and commercially viable research and development innovation that can significantly impact the UK economy.
The organisers of the scheme advise there are rounds of funding to apply for 14th June 2023.
Full opportunity details on this funding can be found on the Government’s dedicated website.
Innovate UK - Innovation Loans Future Economy Competition
The UK Government is offering access to affordable and flexible loans to Small and Medium-sized enterprises (SMEs) for late-stage innovation projects that have a clear route to commercial success.
Managed by Innovate UK (IUK) funding is available for experimental development projects that can include prototyping, demonstrating, piloting, testing, and validation.
The organisers stress that projects must focus on one or more of various themes which include:
- Net Zero
- Health and wellbeing
- Next generation digital technologies
- Technology families
For more information and how to apply, visit the Government website.
If you would like to see coverage of specific funding or grant rounds to help your charity, your project, your community group or enterprise, you can get In touch by email at info@mva.org.uk, you can also contact MVA via the website.