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Introduction
Most people are aware that a large proportion of support to businesses in the UK comes in the form of direct financial aid, such as grants and loans. However, there is also on offer non-financial support where the UK Government, local authorities and other organisations fund business support packages and vouchers to access specific support services.
This blog will cover the different types of fully funded business support available, as well as voucher schemes and how businesses can access them to support them in activities such as innovation, business growth, training and digital transformation. It will also cover the types of providers of the support and how to apply for the schemes.
Who Are The Key Providers of Business Support and Vouchers?
i) Government
The UK Government, Welsh, Scottish and Northern Ireland devolved Governments all back a number of business support and voucher initiatives. The UK Shared Prosperity Fund and Rural England Prosperity Fund from the UK Government, in particular has seen a large funding allocation used for non-grant support for businesses as local authorities determine the best way to distribute levelling up style funding. Other vouchers and non-financial support are also available via Innovate UK.
ii) Universities
UK higher education institutions often run business accelerators or provide innovation vouchers or knowledge transfer partnerships where businesses can apply for non-financial support in expanding their research and development activities or taking on graduates or undergraduates to support innovative projects.
iii) Local Authorities
Councils across the UK run a number of business support initiatives, such as skills bootcamps, accelerators, start-up support, decarbonisation support and training and workshops all to help businesses in the local area grow and help develop the local economy in a sustainable manner.
iv) Enterprise Support Organisations
There are a number of organisations set-up across the UK that provide support to local businesses or support within a specific industry sector. Support can typically include start-up support, business accelerators, mentoring, innovation support and other types of business growth support.
What Types Of Support and Vouchers Are Available
Business Support Schemes
i) Help To Grow Management Training
A heavily subsidised regular training programme ran across Universities in the UK where entrepreneurs and business leaders can improve their leadership skills.
ii) Start-up Programme
Support for businesses just starting out and will typically receive advice from business experts on how to achieve their goals towards becoming a viable operation.
iii) Business Support Service
Support from business mentors who will look at how a business is currently operating and provide advice and assistance on how to grow and offer new products or services.
iv) Business Skills and Training
Get access to business training in the form of workshops and one-to-one advice that helps increase the capabilities and competencies of business leaders and their staff.
v) Growth Accelerator
These are typically several week in-depth support programmes provided by business experts who can help take smaller businesses to the next level by identifying their innovation or overall growth goals. They also provide access to equipment and facilities that a business would not normally have access to.
vi) Digital Support
Support for businesses in taking their current operations and expanding with an online presence to attract new customers, streamline current customer processes or to help identify new high-tech equipment that can help improve overall production operations for efficiency gains.
vii) Industry Advisory Service
A number of UK industries, including manufacturing and farming provide access to bespoke support services where businesses can speak to experts to advise them on how to make core improvements in their operations and remain competitive in the industry.
viii) High Street And Retail Support
There are dedicated support teams in local areas who can help retail and service businesses located on high streets in attracting new customers, moving to vacant or larger premises or improving existing shop fronts.
ix) Innovation Support
There are a large range of different innovation support providers who can assist businesses with taking their prototype research and development ideas towards commercial viability. This can include advisory services from academic researchers and industry experts and access to high-tech lab and advanced manufacturing equipment at dedicated innovation hubs. One such type of innovation support are Knowledge Transfer Partnerships, where businesses can take on a research expert at no or low cost to help achieve a specific project goal.
x) Low Carbon Support
Businesses can get consultancy support from net zero specialists that can advise businesses on low energy solutions to improve the efficiency of their business as well as steps they can take towards decarbonising their operations.
xi) Recruitment Support
Businesses can get support in hiring new talent either within a sector speciality or a local area where experts can match the right candidates for a company. Assistance can also be accessed to set-up internship placements or apprenticeship schemes within a business.
xii) Overseas Market Visit Support
UK Government agencies regularly organise overseas market visits for key areas of interest for British export areas or high-tech innovation. Businesses can access fully funded places on overseas visits that cover travel, accommodation, access to exhibitions or conferences and other allowable expenses.
Voucher Schemes
i) Innovation Vouchers
Innovation vouchers can provide access to consultancy services and access to high tech labs and equipment that can support a business in research and development activities to take a prototype towards commercialisation, where normally access to such support would come at a financial cost.
ii) Broadband Vouchers
Vouchers are provided to pay for access to more complex high-speed broadband installations at business locations in areas of the country where there is currently limited access to regular fibre broadband roll-out, such as in rural and more remote areas of the UK.
iii) Growth Vouchers
Vouchers that can provide access to business consultants that would otherwise come at a financial cost who can advise companies on the next steps they need to take to achieve their growth goals.
iv) Knowledge Transfer Vouchers
These vouchers typically provide businesses with access to a research academic who can help collaborate with the company to achieve a specific innovation or prototype project goal where funding for the placement is covered by the voucher for a set period of time.
v) Skills and Training Vouchers
Vouchers that provide access to training courses, workshops and one-to-one skills mentoring that would otherwise come at a financial cost for business leaders and their staff.
vi) Energy Audit Vouchers
Businesses can access vouchers to get an energy audit of their business that would otherwise come at a cost that can advise on areas where energy efficiency improvements could be made to achieve net zero goals.
What Are The Latest Business Support And Vouchers Available?
i) Luton Online: Digital Marketing Launchpad by Let’s Do Business Group
This programme is providing fully funded business support and training to help business owners and entrepreneurs in the Luton area improve their confidence using digital marketing and social media to connect with their customers and grow their business.
ii) Broxtowe Accelerator by Broxtowe Council
Businesses in the Broxtowe area of the East Midlands can access an accelerator programme that is providing a package of support, including one-to-one advice, mentoring and diagnostic support, training and action planning workshops to help businesses sustain, grow and innovate. The programme is backed by the UK Shared Prosperity Fund.
iii) Shropshire Net Zero Leaders Programme by Clean Tech Business Group Ltd
Businesses in the Shropshire region can access fully funded support to help measure current carbon emissions, develop a net zero strategy and deliver carbon reductions. This scheme is backed by the UK Shared Prosperity Fund.
iv) Innovation Vouchers by Invest Northern Ireland
This scheme is providing vouchers to SMEs in Northern Ireland who wish to work with an expert knowledge provider from a university, college or other public sector research body to help them innovate, develop and grow.
v) UK Shared Prosperity Fund Advice Vouchers by Cumbria Growth Hub
Small and Micro businesses in the Cumbria area can access vouchers worth up to £500 to access support to work with a consultant on business development areas such as marketing, websites, business growth, productivity and other specialist advice. The scheme is backed by the UK Shared Prosperity Fund.
vi) Skills Vouchers for Workshops and Short Courses by Wrexham University
Businesses that are located in the local areas of Wrexham, Denbighshire and Flintshire can apply for vouchers to access continuous professional development through a programme of workshops and short courses from Wrexham University.
Case Studies Where Businesses Received Business Support Or Vouchers
i) Deeside Electronics Manufacturer Awarded University Innovation Voucher
RAM Innovations from Deeside has benefited from Bangor University’s Skills and Innovation Voucher (SIV) Scheme, which offers companies in Gwynedd, Anglesey and Flintshire an opportunity to collaborate with the university. The scheme is backed by the UK Shared Prosperity Fund and the manufacturer received innovative research support to collaborate with academics to create a non-toxic resin that can be used to embed electronic chips into devices. The company now plans to increase their workforce five-fold and set-up a new electronics manufacturing plant.
ii) Kent and Medway Growers Awarded over £320,000 Worth Of Vouchers
Growing Kent and Medway has awarded 13 horticultural companies in the local area innovation vouchers worth over £320,000 in total in order to work with researchers on advanced sustainable innovation projects to boost the growing sector. Projects include activities that advance sustainable innovation in horticulture and plant-based food production, including fruit disease management strategies, boosting natural biological controls and soil health. Businesses can use the vouchers to collaborate with the National Institute of Agricultural Botany (NIAB), University of Kent or University of Greenwich.
iii) East Midlands Support Programme Has Engaged 1,100 Companies
The East Midlands Chamber Accelerator Project, which is funded by the UK Shared Prosperity Fund has so far provided tailored business support to over 1,100 companies in the Derby, Derbyshire, Nottinghamshire and Leicester areas since it was launched in Autumn 2023. So far, over 102 growth vouchers worth up to £2,000 have been distributed to access consultancy support, 300 workshops and webinars have taken place advising local businesses on key issues and 50 energy saving and improvement audits have been carried out to advise businesses on how to reduce their energy costs.
How To Apply For Business Support And Voucher Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, how business support is funded and what eligible costs vouchers can cover will also be outlined on these pages. Interested businesses can speak to business support advisors based at each provider who can guide them through requirements and eligibility criteria to see if the relevant support or vouchers are a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Business Support and Voucher Opportunities?
If you want to see the full set of UK business support and vouchers currently available, please visit https://getbusinessgrants.com/
