The Humber Business Growth Hub & The #GrowMySME Programme Jon Brunton – Growth Hub Manager
What is the Growth Hub? One-stop-shop for FREE 1-2-1 impartial Business Support in the advice, guidance and Humber Region and a support from key part of the experienced Business Humber LEP. Advisors Access to other Suite of online regional and national resources, guidance sources of business & information: support, expertise and Humbergrowthhub.org funding
Signposting & Referral Specialists
What have we achieved since 2014? Businesses Individuals Referrals & Signposting • 9,700 supported • 10,843 supported • 635 businesses supported to access finance or grants • 1,950 supported on a • 45 start-ups created medium or high intensity between April 2018 and • 373 businesses supported to basis March 2019 access skills & training programmes • £802,317 of grant funding accessed between since April 2018 and March 2019 alone Above figures are for the period April 2014 to September 2019 unless otherwise stated
What Business Support Does the Humber Region Need? 98% of Humber businesses Many businesses struggle to deal with are SMEs and 81% have growth barriers such as access to the less than 10 staff right skills, innovation support and new markets Take up of digital technology in the Many businesses have difficulties region is not where is should be. accessing the right form of business Studies show that embracing digital finance and need support with technology can grow a business ’ funding applications profitability by up to 26%
The #GrowMySME Programme BUSINESS GROWTH ICT FINANCE SCHEME FOR GROWTH FOR GROWTH A £6 million package of business support to accelerate the growth of Humber region businesses from 2018 to 2021
Eligibility Criteria Must be a Small to Medium Enterprise, which is a business that has: • Less than 250 full time (or equivalent) employees • A turnover of less than € 50m or a balance sheet value of less that € 43m • Must have a trading address in the Humber region, that is, in: • Hull • The East Riding of Yorkshire • North Lincolnshire • North East Lincolnshire • Have received less than € 200,000 of State Aid in a rolling 3-year period. • Other eligibility criteria may apply depending on which part of the programme you wish • to access. Speak to the team to find out more.
# GrowMySME – At a Glance Business Growth Scheme Finance for Growth ICT for Growth One – to – One Advisors Workshops & Masterclasses Delivery Grants Scale Up Business Supply Sector Digital Start-Up Development Chain Digital Catalyst Development Grants Programme Network
One-to-one Advice BUSINESS GROWTH FINANCE FOR GROWTH ICT FOR GROWTH SCHEME Team of 9 FTE Growth Hub Team of 4 FTE Finance Business Team of 2 FTE ICT Business • • • Business Advisors across the Advisors across the region Advisors across the region region Can help you address the key Can help you to identify your • • Can carry out a business issues preventing your business ICT needs and requirements • needs analysis with you to accessing finance identify your support needs to Assist you to design a tailored • accelerate your business Assist you to understand what project solution • growth investors and lenders are looking for Technical consultancy 1-2-1s • Work with you every step of also now available with • the way to implement a Help you to navigate the external ICT experts • bespoke action plan financial landscape
Workshops & Masterclasses BUSINESS GROWTH FINANCE FOR GROWTH ICT FOR GROWTH SCHEME Select Topics Select Topics Select Topics Sales & Marketing Developing a Winning Pitch Cyber Security & Resilience to • • • Strategic Marketing & Brand Threat • Customer Segmentation Understanding the Investment • • Process Cloud-Based Computing • Business Processes • Lean Office Principles Equity Finance – Am I Giving Up The Internet of Things • • • HR Policies & Systems Control? • Artificial Intelligence for Business • Leadership, Innovation and Funding Growth – Determining • • Culture the Right Package of Investment New and Emerging Technologies • Managing Talent • Organisational Culture •
Grants BUSINESS GROWTH FINANCE FOR GROWTH ICT FOR GROWTH SCHEME All three schemes have grant funding available to support business growth in various ways • All grants offer 40% contributions toward an eligible project’s costs between £2,500 and £12,500 (e.g. a £4,000 • grant contribution toward a £10,000 project). Revenue costs only (some capital spend possible with ICT grants) Eligible grant fundable projects can be identified with an advisor of the relevant scheme • Applications for grants are subject to an assessment process and are therefore competitive • Example projects Example projects Example projects Support to attain accreditations Support to create a business plan E-Commerce sales platforms • • • for investment Specialist software and related • Specialist advice to create a • Assistance to create integrated hardware (i.e. CAD software and • sales and marketing plan to financial forecasts to attract touch-screen computer) access a new market. funding
#GrowMyStartUp Digital Start-Up Grants BUSINESS GROWTH FINANCE FOR GROWTH ICT FOR GROWTH SCHEME For businesses up to 12 months old (must be trading and HMRC registered) • £1,000 ‘bitesize’ grants toward essential ICT equipment & software for projects totalling between £2,000 & £2,500 • (thus matched funded) Applications for grants are subject to a quick-check assessment and will be turned around within two weeks • Example projects Superfast Broadband • A Desktop PC or Laptop • EPOS System • Specialist Software • Website Development • Digital Marketing •
Supply Chain Development In Partnership With Through the Supply Chain Network Website Through One-to-One & One-to-Many Support SMEs can advertise their products and services Undertaking initial assessment of businesses, their • • on a FREE business directory products & services, and helping them to identify barriers to supply chain access SMEs can view potential current and future • supply chain opportunities from OEMs, tier 1 Delivery of sector and supply chain knowledge • suppliers, public authorities and more. through workshops, events and access to resources SMEs can access information on supply chain • projects and funding available Raising understanding and aspiration through • knowledge of procurement processes, networking and collaborations.
Scale-Up Business Development Programme An exciting programme designed to support ambitious businesses of all sectors with the potential and determination to achieve significant and sustainable business growth, by working on the growth challenges of: Introducing Accessing new Assessing and differentiated Boosting Developing & regional, national understanding the products and productivity and building an and international best financial services that build minimising waste effective team markets options for growth on existing markets 90 Business Leaders across six cohorts will be engaged by a tailored package of support including: Scale-up Peer-to-Peer 1-2-1 Coaching ‘ Growthology ’ ‘WOW’ Leadership Masterclasses Board Networks Support Online Playbook Events Cohort 1 will get underway in January 2020 – EOI’s are being accepted now!
Sector Development A sector-by-sector series of packaged support for businesses in the Humber to grow by engaging with the issues & overcoming growth barriers particular to their sector: - Regulatory & Compliance - Market Trends - Horizon Scanning - Cross-Sector Collaboration The Humber Region’s Key & Enabling Sectors Creative & Health & Manufacturing Logistics Food Digital Social Care Renewables & Visitor Engineering Chemicals Construction Energy Economy
Sector Development – Social Enterprise • Social Enterprise ‘Accelerator’ Pilot – a discrete programme of support for organisations that are looking to grow & scale their service. Delivery will vary from mentoring, through to action learning and interactive sessions. Support will include: • Overcoming growth barriers • HR & Recruitment • Succession Planning • Responding to new markets #GrowMySME • Social impact and social value Social Enterprise • A Specialist Workshop Programme, including: • Finance & Trading for Social Enterprise • Unlocking Social Investment • HR & Volunteer Management • Valuing & Evidencing Impact
Digital Catalyst Programme What Why How • A programme to accelerate • Business that effectively • Digital Benchmarking digital adoption within adopt digital technology Humber SMEs can generate up to 20% • Digital Sprint Workshops higher revenue at 30% lower cost • A programme that will target • Digital Plan • Generate competitive businesses with 10-49 FTE staff advantage • Brokerage • Lower costs and create efficiencies • Technology Provider • Increase integration across Selection the customer journey • Keep ahead of the game through increased innovation
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