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SUPPORTING ENTITIES
ENGLAND REGIONAL GROWTH FUND (RGF)
, which supports eligible projects and programmes that are raising
private sector investment to create economic growth and lasting employment. One company to benefit recently was
Staffordshire Precision Engineering which secured £850,000 of investment to move to new premises.
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The RGF has
delivered £2.6 billion of investment to 400 local projects and programmes, which has unlocked nearly £15 billion of
private investment and delivered 550,000 jobs.
2
THE GROWING BUSINESS FUND
which is a local organisation which offers grants of between £5,000 and £500,000
through the New Anglia Local Enterprise Partnership looking to encourage growth and enterprise in Norfolk and
Suffolk
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and which recently gave a £60,000 grant to Milltech Precision Engineering to help it employ more staff to
meet a major new contract.
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THE UK GOVERNMENT’S ADCANCED MANUFACTURING SUPPLY CHAIN INICIATIVE (AMSCI)
,
which provides research
and development support, skills training, and investment capital and encourages major new suppliers to ‘reshore’ in
the Uk.
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WELSH GOVERNMENT BUSINESS FINANCE -
offers discretionary financial support to eligible businesses in key business
sectors and certain strategically important projects outside these. It helps fund capital investment, job creation, research,
development and innovation and certain eligible revenue projects throughout Wales.
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THE EUROPEAN SOCIETY FOR PRECISION ENGINEERING AND NANOTECHNOLOGY,
which was formed in 1999 with
funding from the EU and, “provides an entrepreneurial platform that enables companies and research institutes to
promote their latest technology developments, products and services and keep up to date with those in the field”
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EUROPEAN REGIONAL DEVELOPMENT FUND,
which awards grants of up to 75% of a project’s cost. “The main objective
of the ERDF is to support the projects and activities which reduce the economic disparity within the member states of
the EU. It financially aids projects that stimulate economic development and increase employment…”
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THE BRITISH BUSINESS BANK
,
which guarantees third party bank loans to companies like Swiftool Precision Engineering
in Nottingham, which in May 2015 accessed a £500,000 loan for new machinery, through Yorkshire bank, on this basis.
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The programmes of the BBB made £660 million of finance available to small and medium sized enterprises (SMEs) in
2013 – a 73% year-on year increase from 2012.
2
REGIONAL SELECTIVE ASSISTANCE
,
a Scottish scheme administered by Highlands and Islands Enterprise and Scottish
Enterprise. Grants may be given in conjunction with support under other aid frameworks, for example R&D or skills
and training.
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THE UK’S ENGINEERING AND PHYSICAL SCIENCES RESEARCH COUNCIL (EPSRC),
which funds studentships and
collaborative research between companies and academics
.
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