The UK government has launched a new online guide to help small and medium-sized enterprises (SMEs) access funding for growth and innovation.
‘The No-Nonsense Guide to Finance for High Growth and Innovative Businesses’ will act as a one-stop resource for companies that want to know where and how they can access sources of funding available to support innovation. It is available free of charge on the Business Link website www.businesslink.gov.uk/no-nonsense.
The guide bridges the information gap between providers of funding and SMEs to ensure they can find out about and access the full range of funding options available to support innovation. It includes details on funding from both the private and public sectors. This includes organisations like the Carbon Trust, which financially support firms working on technologies to cut carbon output, through to Regional Development Agencies which roll out a range of funding schemes including Innovation Vouchers, or their equivalent, worth up to £10,000 to help small businesses purchase innovation support from sources of research expertise, including universities.
Minister for Economic Competitiveness and Small Business, Baroness Vadera, said: “Innovative businesses will play a key role in the future of our economy so assisting these businesses to innovate and grow is particularly important, especially during challenging economic times. This guide draws on the experience of a range of businesses and the expert advice from the industry. It is a succinct and practical resource that will leave innovative businesses better positioned to take their next steps.”
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