Steven Mugglestone

The more I learn, the less I know

Posts Tagged ‘funding

Key business grants & funding that are still available

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Key Business grants and funding that are still available

As a brief review and to help SMEs, we have identified a number of key grants and grant funding initiatives that are still available to SME businesses.

Technology Strategy Board and R&D

The Technology Strategy Board has started a new scheme which offers funding to SMEs to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.

Open from 4 April 2011, the Grant for Research and Development (Grant for R&D) scheme supports R&D projects which offer potentially significant rewards and could stimulate UK economic growth. In contrast to the Collaborative R&D programme, Grant for R&D funding is available to single companies.

Smart

Smart (previously known as Grant for Research and Development) is a Technology Strategy Board scheme offering funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.

The Smart scheme will support R&D projects which offer potentially significant rewards and could stimulate UK economic growth. In contrast to the Collaborative R&D programme, Smart funding is available to single companies.

We use the European definition of SME.  There are three types of grant are available:

Any UK SME working in any sector may apply; applications are accepted on a rolling basis for assessment by independent experts.

Smart replaces the Grant for R&D scheme previously offered by regional development agencies. The scheme works alongside existing programmes in Scotland, Wales and Northern Ireland.

Proof of market grant

This grant enables companies to assess the commercial viability of a project, through:

  • market research
  • market testing and competitor analysis
  • intellectual property position
  • initial planning to take the project to commercialisation, including assessing costs, timescales and funding requirements.

Projects will last up to 9 months, have a maximum grant of £25k, and up to 60% of total project costs may be funded.

Proof of concept grant

SMEs may use this grant to explore the technical feasibility and commercial potential of a new technology, product or process, including:

  • initial feasibility studies
  • basic prototyping
  • specialist testing and/or demonstration to provide basic proof of technical feasibility
  • intellectual property protection
  • investigation of production and assembly options.

It also includes pre-clinical research studies for healthcare technologies and medicines, including target identification and validation.

Projects will last up to 18 months, have a maximum grant of £100k, and up to 60% of total project costs may be funded.

Development of prototype grant

This funding is used by companies to develop a technologically innovative product, service or industrial process, and can include projects such as:

  • small demonstrators
  • intellectual property protection
  • trials and testing, including clinical
  • market testing.

Projects will last up to 2 years and have a maximum grant of £250k; up to 35% of total project costs for medium enterprises, or up to 45% for small and micro enterprises, may be funded.

Further information

All pre start-ups, start-ups, and small and medium-sized businesses from all sectors across the UK may apply for the Smart programme.

In future we may also run themed competitions using the Smart scheme, aligned with our priority investment areas.

Please note that the Guidance for Applicants have been updated and a new rule has been introduced from the open of Round 5. An individual business may only submit one project application per category (eg proof of concept) per round. If more than one application per category is submitted in a round only the first application submitted will be considered for funding.

http://www.innovateuk.org/content/competition/smart.ashx

The New RGF Grant Scheme with Bank Lending

The government has also announced details of the new Regional Growth Fund Grant Scheme which seeks to provide businesses with a grant amounting to 20% of the funding needed for a project, with the two major banks, RBS and HSBC providing the remainder as lending.

Full details of £95m of the government’s banking RGF assistance can be found on the BIS site at: http://lnkd.in/8R4wJV

The Regional Growth Fund (RGF) scheme is a £1.4bn fund operating across England from 2011 to 2014.  It is administered by the Department of Business Innovation and Skills:  http://www.bis.gov.uk/

Given the discussions that we are having with banks and that the total grant fund has been capped at £95million, we believe that small and medium sized businesses should act now and secure this major funding initiative before it runs out.

The Fund objective is to stimulate private sector investment by providing support for projects that offer significant potential for long term economic growth and the creation of additional sustainable private sector jobs – especially in areas which are currently dependent on the public sector.

RBS Group has secured £70m and HSBC has secured £25m of RGF to distribute to eligible customers.  This is open to customers acquiring eligible assets via a NatWest/RBS/HSBC loan and also through Lombard on a lease purchase agreement.

The scheme is designed to support the purchase of assets by providing a supplementary deposit contribution – this will take the form of a grant.

  • The minimum amount of RGF that can be applied for is £5,000
  • The maximum amount is £500,000 per customer group (i.e. including any group companies)
  • The RGF element cannot exceed 20% of eligible costs
  • This minimum amount to be funded after customer deposit and RGF is £25,001.

As the RGF element is a grant, no repayment is required unless the customer breaches any of the RGF criteria.

We are advising our current and future clients to contact us now to discuss how they can benefit from this valuable business initiative.


Steven Mugglestone BA FCA
,
Finance Director Services
McGregors Corporate, Entrepreneurial Chartered Accountants and Business Advisers
…….Really good for your business

McGregors Corporate are a Member of Probiz Tax, providing Innovative Tax Solutions to Owner Managed Businesses.

http://uk.linkedin.com/in/stevenmugglestonefca/
http://twitter.com/McGsCorporate
http://www.youtube.com/watch?v=nhC0wlglePE
http://www.mcgregorscorporate.co.uk/

T: 0845 519 5659                T: 0121 236 3317
steven@mcgregorsbirmingham.co.uk

Connect, call, talk, email, contact us, send a messenger pigeon and arrange a discussion, review and free meeting.

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Written by Steven Mugglestone

February 13, 2012 at 10:11 am

Birmingham Chamber of Commerce Business Finance Surgery returns 6th September 2011

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Birmingham Chamber of Commerce Group in partnership with
NatWest and McGregor’s Corporate Chartered Accountants

Monthly Finance Surgery – Access the finance and advice you need for your business
.

Next Dates
: Tuesday 6th September 2011
Time: 9.00am – 3.00pm
Location: Birmingham Chamber of Commerce, 75 Harborne Road, Birmingham, B15 3DH

The Birmingham Chamber of Commerce Group in partnership with NatWest Commercial Bank and
McGregors Corporate Chartered Accountants is offering SMEs the opportunity to ‘ask the experts’ on a one to one bases about their business finance and funding needs.   Individual appointments are available for a one to one review and discussion with both a commercial and corporate bank funder and commercial chartered accountant/finance director.

Bank funding:
• Choosing the most appropriate funding solution for your business.
• The importance of having a clear rationale for the funding you need.
• Support regarding how a bank approaches the assessment of your funding application

Alternative methods of finance: 

  • How to work with your accountant to explore funding and growth options.
• What to expect from your appointed accountant
• How to get the most from venture capital and small private equity investment.
• How to improve your finance function and how your accountants can be your finance director

This is the opportunity for you to access free consultations and funding reviews and to question the experts on issues affecting your business.   If you are an SME business with T/O above £1m and you would like to register your interest for this event please contact:

Rachel Flanagan
T:         0121 607 1836 

E:        
r.flanagan@birmingham-chamber.com 

Steven Mugglestone BA FCA
www.mcgregorscorporate.co.uk

McGregors Corporate, Entrepreneurial Chartered Accountants and Business Advisers
…….Really good for your business

McGregors Corporate are a Member of Probiz Tax, providing Innovative Tax Solutions to Owner Managed Businesses.

http://uk.linkedin.com/in/stevenmugglestonefca/
http://twitter.com/McGsCorporate
http://www.youtube.com/watch?v=nhC0wlglePE
http://www.mcgregorscorporate.co.uk/

T: 0845 519 5659
T: 0121 236 3317

steven@mcgregorsbirmingham.co.uk

Connect, call, talk, email, contact us, send a messenger pigeon and arrange a discussion, review and free meeting.

Midlands Investor Network – 18th May Spring 2011 Event and Current Businesses

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Midlands Investor Network – 18th May Spring 2011 Event and Current Businesses

The Midlands Investor Network Group is holding a second “Showcasing and Networking” event on Wednesday 18th May at 6.30pm.

The evening will, again be at The Royal Bank of Scotland Group, 4th Floor, 2, St Philips Place, Birmingham, B3 2RB at 6.30pm. We will showcase between 6 and 8 business opportunities.  We can outline some of those businesses already and have a very brief outline of some of the opportunities available below.

To attend the event, please contact Christine Gilligan T: 0121 236 3317 E: c.gilligan@mcgregorsbirmingham.co.uk.  We are requesting a £10 fee to cover the costs of the event, however, at the previous event all funds were donated to the Birmingham Acorns Children’s Hospice.

We already have a number of businesses who are working with us to attend the event and promote their businesses for future investment.  As we intend to continue with the event being held seasonally throughout 2011 and beyond, both in Birmingham and in other Midlands cities, we would welcome more businesses looking for investment to be part of future events.  Our founding group meet regularly to review new businesses and this is an on-going process so current business plans and presentations are very welcome to be submitted for review.

The businesses that we have accepted so far include the following exciting opportunities:

Medical device opportunity

This company has developed a lightweight patient carrying system to carry patients through body scanners.  The innovative board allows the scan to be carried out for 360 degree review with limited interference from the board itself.

Branded Footwear Online Retailer

This company has established itself as the largest independent retailer of footwear online, having been one of the first-movers in the sector back in 1999.  The company now benefits from an extensive product portfolio that includes some of the most sought after names in the branded footwear market.

The company has been heavily active in Europe and plans to exploit the emerging online EU market.

App Gaming Business

Developing games for App use for I Phone, Windows and Android formats, this new business is launching its first game.  The owners/developers have come from a gaming background, having worked for larger gaming businesses.

File Encryption Key Business

The company has developed and patented a unique key system that encrypts computer files with a secure encryption system and algorithm.  This is being developed to allow cloud and internet applications to replace the need for passwords but ensure significantly improved file security.

Toothbrush Cleaning and Storage System

The company has designed a unique and stylish toothbrush storage system that both stores, cleans and sterilises the toothbrush.

Educational Game

The business has developed an educational family darts game and already has the interest of Tesco as a retail outlet.  To promote the game, the business has also the support of former world’s darts champion, Phil “The Power” Taylor.

Classical Crossover music project album and tour

This entertainment opportunity is a cross-over classical music project bringing together a young soprano with the writers of the music of Lord of the Dance.  The project takes classical music and interprets the pieces into modern dance and ballad tracks, mixing modern key board with a world famous violinist.  The project has part completed an album and is looking to both complete the album and commence a UK tour.

Steven Mugglestone BA FCA

Area Director
McGregors Corporate

steven@mcgregorsbirmingham.co.uk
www.mcgregorscorporate.co.uk

T: 0121 236 3317

Midlands Investor Network

Else Solicitors LLP                              www.elselaw.co.uk
BA Capital                                           www.bacapital.co.uk
Citizen Corporate Finance                 www.mycitizen.co.uk
RBS/Nat West                                    www.rbs.co.uk
McGregors Corporate                        www.mcgregorscorporate.co.uk

Written by Steven Mugglestone

April 22, 2011 at 7:27 am

Advice is on hand to help Birmingham SME’s grow

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Businesses from throughout the City have come together at the Birmingham Chamber of Commerce to ‘ask the experts’ about obtaining finance and to talk about how to trade successfully in the current economic climate.

The Finance Surgery event – which was held at the Chamber’s offices in Harborne Road – was organised by the Chamber of Commerce, NatWest Commercial Banking and McGregors Corporate Accountants.

One of the key reasons for holding the event was to remove some of the mystery around funding options for SME’s and to help them understand the most appropriate funding solution for them. There was also support available to help businesses understand how banks assess funding requirements and how to work with accountants to explore funding and growth options.

The event proved so successful a second event is planned for 22nd March at the Chamber.

Commenting on the event, Claire Bunning from NatWest Commercial Banking, said: “For many SME’s the word to describe recent years has been “survival”, but now that economic prospects are slowly picking up discussions are beginning on how owners can make the most of their businesses. At NatWest we remain active and our appetite to support remains firmly intact as this event demonstrates. Our role as an experienced finance team remains unchanged. We are working with our colleagues and professional contacts such as the Chamber and McGregors to understand and support SME’s and events such as this really will help local businesses and the economy.

Steven Mugglestone from McGregors Corporate Accountants added: “An event like this shows why it is crucial for businesses to work with more commercial accountants to explore the most appropriate business structures, taxation, funding and business growth options, rather than just number crunchers.”

Birmingham Chamber of Commerce Group in partnership with
NatWest and McGregor’s Corporate Chartered Accountants

Steven Mugglestone BA FCA
www.mcgregorscorporate.co.uk

We like to keep things simple, for ourselves and our clients;
We build our business by reducing our clients’ business and taxation costs;
We build our business by increasing our clients sales;
We build our business by helping our clients succeed in their business;
It is that simple and we meet you to discuss all these things for free;

http://uk.linkedin.com/in/stevenmugglestonefca/
http://twitter.com/McGsCorporate
http://www.youtube.com/watch?v=nhC0wlglePE
http://www.mcgregorscorporate.co.uk/contact-us.html
http://www.mcgregorscorporate.co.uk/

T: 0845 519 5659
T: 0121 236 3317

steven@mcgregorsbirmingham.co.uk
Connect, call, talk, email, contact us, send a messenger pigeon and arrange a discussion, review and free meeting.

Written by Steven Mugglestone

February 23, 2011 at 8:52 am

New and established businesses seeking funding being recruited for the Spring/Summer MIN Investor Event

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New and established businesses seeking funding being recruited for the Spring/Summer MIN Investor Event

Following the success of the launch event in January and the interest and further negotiations taking place for the initial group of businesses presenting, we are now organising a second event for late spring (date to be announced).

Businesses looking for funding and wishing to have the opportunity to present to a group of potential investors should start to contact us now for an initial review and discussion.

steven@mcgregorsbirmingham.co.uk

T: 0845 519 5659
T: 0121 236 3317

Midlands Investor Network Launch with a Song and Dance
http://wp.me/pQyUg-2S

Events are being organised in the West and East Midlands

Steven Mugglestone BA FCA, McGregors Corporate, More than just Accountants!

McGregors Corporate are a Member Of Probiz Tax.  We provide Innovative Tax Solutions to Owner Managed Businesses.  We are relentless in helping businesses.

We like to keep things simple, for ourselves and our clients;
We build our business by reducing our clients’ business and taxation costs;
We build our business by increasing our clients sales;
We build our business by helping our clients succeed in their business;
It is that simple and we meet you to discuss all these things for free;

http://uk.linkedin.com/in/stevenmugglestonefca/
http://twitter.com/McGsCorporate
http://www.youtube.com/watch?v=nhC0wlglePE
http://www.mcgregorscorporate.co.uk/contact-us.html
http://www.mcgregorscorporate.co.uk/

steven@mcgregorsbirmingham.co.uk

Connect, call, talk, email, contact us, send a messenger pigeon and arrange a discussion, review and free meeting.

Written by Steven Mugglestone

February 9, 2011 at 11:28 am

Midlands Investor Network Launch with a Song and Dance

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Midlands Investor Network Launch with a Song and Dance

A group of banking, finance and business professionals working together as The Midlands Investor Network launchedthis month, literally with a song and dance in Birmingham at the main offices of RBS/Nat West at St Phillips Square, which as the area director for RBS jokes as is also known as the bank at the back of Rackhams.

The Network has been put together by Steven Mugglestone, West Midlands Area Director of McGregors Corporate, the midlands based firm of Chartered Accountants and Business Advisers, in order to give growing SME owner managed business an opportunity to pitch their businesses to potential angel and private equity investors. The Network also includes RBS, Else Solicitors based in Birmingham and Burton, Citizen Corporate Finance based in Nottingham, BA Capital based in London and MidvenVenture Capital based Birmingham. The event saw seven growing businesses from new technology start-up businesses through to established west midlands based engineering and manufacturing businesses looking to European expansion,pitching their plans to an audience of business angels and venture capital organisations together with their professional advisers.

One of the ventures was the opportunity to invest in a new musical looking to secure funding to establish a West End run. Mod Crop, the Musical contains well known songs from the sixties and has been written by the creator of Quadrophenia, and has already been seen by sell-out crowds at the Nottingham Theatre Royal. As an addition to their pitch, the show’s co-writer and producer, Steve Wallis, brought part of the cast and a group of musicians along to round up the presentations with excepts of songs and scenes from the show, with a finale of songs including Gimme’ Some Lovin’. The midlands head office of a national bank may have appeared to be an unusual setting, but the evening was a welcome song and dance alternative to routine business and financial issues.

The launch proved to be a success and a platform for future events in Birmingham and elsewhere in the midlands, with interest being shown in the businesses for future potential investment from the business angels and venture capital/private equity organisations within the audience. Steven Mugglestone of McGregors Corporate said, “We are very pleased that the event has gone down exceedingly well indeed. The presentations from all of the businesses were very well delivered and well received and we have had really good initial feedback. As well as interest being shown in the presenting businesses, I have also been approached by representatives of businesses and business angels groups wishing to put businesses forward as well as other equity investors wishing to be part of the network and future events. The team at Nat West/RBS have been fantastic in supporting the event and providing the venue and catering and they have already told me that they are very keen to promote and host another event in the Spring time. All in all, I think everyone enjoyed themselves, which for business and finance isn’t always the order of the day. I also believe that there will be some real positive outcomes for the businesses presenting at the first event.”

Businesses pitching at the first event included a company who have developed a system that refuels gas powered cars from mainssupply gas; a company that has developed a UV light cured car body filler; an award winningmanufacturing company that adapts small cars for wheelchair access and use; a company that has developed a system for doctors surgeries to control and monitor their referrals to the NHS; a rugby leisure clothing brand; anonline radio station for the over 40s and Mod Crop The Musical. All of these businesses are also being assisted by Citizen Corporate Finance, http://www.mycitizen.co.uk in their current and future search for funding.

Businesses or investors wishing to be part of the Network and future events being organised should contact Steven Mugglestone at McGregors Corporate on 0121 236 3317 or visit their website,www.mcgregorscorporate.co.uk,for other contact details and further information.

Steven Mugglestone BA FCA, McGregors Corporate, More than just Accountants! McGregors

Corporate are a Member OfProbiz Tax. We provide Innovative Tax Solutions to Owner Managed Businesses. We are relentless in helping businesses. Here are some examples of how we do that:

Accelerate Your Business Growth and get supported with Grant Funding. http://wp.me/pQyUg-29
Midlands Investor Network – Launch Event and Update http://wp.me/pQyUg-25
How an FD drives a business when sometimes Accountants are just catching up http://wp.me/pQyUg-j

We like to keep things simple, for ourselves and our clients;
We build our business by reducing our clients’ business and taxation costs;
We build our business by increasing our clients sales;
We build our business by helping our clients succeed in their business;
It is that simple and we meet you to discuss all these things for free;

http://uk.linkedin.com/in/stevenmugglestonefca/
http://twitter.com/McGsCorporate
http://www.youtube.com/watch?v=nhC0wlglePE http://www.mcgregorscorporate.co.uk/contact-us.html http://www.mcgregorscorporate.co.uk/

T: 0845 519 5659
T: 0121 236 3317

steven@mcgregorsbirmingham.co.uk

Connect, call, talk, email, contact us, send a messenger pigeon and arrange a discussion, review and free meeting.

Written by Steven Mugglestone

January 27, 2011 at 2:28 pm