Access to finance
Dudley Business First works closely with public and private providers of finance to signpost businesses to a wide range of finance initiatives and products including grants, loans, equity and capital allowances. Dudley businesses are encouraged to speak to the team to discuss their plans and the finance opportunities available.
Coronavirus Business Grants Schemes
All grant schemes are now closed for further information see Coronavirus financial help for businesses.
British Business Bank
While there are many finance options available, the first step is understanding what they are, how they differ and which route is best for you and your business. This guide from the British Business Bank is a good place to start and will help you assess which finance route might deliver the outcome you require.
Advanced manufacturing supply chain initiative West Midlands - loan and grant finance
Supports growth in the automotive and aerospace manufacturing sectors. Addresses perceived market failure by improving the competitiveness of supply chains to globally competitive levels.
MIN FUNDING £100,000
MAX FUNDING NO MAX
Rail supply fund - loan and grant finance
The £20m fund provides access to affordable finance to increase the capability, competitiveness and productivity of businesses either operating in the rail supply sector or for businesses aiming to enter it through crossover products and services.
MINIMUM FUNDING: £500,000
MAXIMUM FUNDING: £2,000,000
Black Country Reinvestment Society (BCRS) Business Loans
This loan fund has been especially designed to meet the needs of West Midland’s based businesses that are unable to get loans from traditional sources such as banks. A BCRS loan can be used for a wide range of projects including working capital, purchasing equipment, start-ups, recruitment and marketing.
MINIMUM FUNDING: £10,000
MAXIMUM FUNDING: £150,000
Midlands engine investment fund – loan and equity
This fund aims to transform the finance landscape for smaller businesses in the Midlands and to help realise the region’s potential to achieve economic growth through enterprise. It provides commercially focussed finance through Small Business Loans, debt finance, proof of concept and equity finance funds.
MINIMUM FUNDING: £25,000
MAXIMUM FUNDING: £2,000,000
Start up loans – loan finance
For those of you with dreams to start and run your own business, the government-backed start up loan service might just be the break you’ve been looking for. Alongside the low-interest loan, successful applicants can access free mentoring from experienced advisers.
MINIMUM FUNDING: £500
MAXIMUM FUNDING: £25,000
The carbon trust green business fund – grant finance
This fund is the energy efficiency support service for small and medium-sized companies in England, Wales and Scotland. It provides direct funded support through energy assessments, training workshops, equipment procurement support and up to £5,000 capital contribution per company towards your energy saving equipment purchase.
MAXIMUM FUNDING: Up to £25,000
Innovation competitions – grant and loan
Innovate UK drives productivity and growth by supporting businesses to realise the potential of new technologies, develop ideas and make them a commercial success.
The innovation funding services offers numerous competitions and opportunities for businesses to gain the funding they need to launch, build and grow successful businesses.
MINIMUM FUNDING: Variable on product
MAXIMUM FUNDING: Variable on product
Corporation tax: the patent box – capital allowance
The patent cox enables companies to apply a lower rate of corporation tax to profits earned after 1 April 2013 from its patented inventions.
Find out how to apply a lower rate of corporation tax to profits earned from patented inventions and certain other innovations.
To discuss the finance opportunities available or book an appointment with one of our business support officers call us at 01384 812001 or email info@dudleybusinessfirst.org.uk.