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Advice for businesses

The following page outlines the organisations that can provide support for businesses within the Borough of Oadby and Wigston. It contains a number articles relating to the organisations and the services that they offer and provides contact details should you wish to seek further advice.

Support

Figures for the year 2009/10 show that Business Link services have been provided to 80,254 established businesses and to a further 21,670 entrepreneurs who were thinking of starting a business across the East Midlands. This is an increase of over 24 per cent of customers serviced from the previous year.

The number of businesses assisted by Business Link last year, represents over 51 per cent of all those based in the East Midlands as recorded on the Inter Departmental Business Register (IDBR) maintained by the Office for National Statistics (ONS). The ONS estimate that there are just under 156,000 businesses across the East Midlands region. East Midlands Business (EMB) offer a portfolio of information, diagnostic and brokerage services in addition to delivering community outreach programmes and inward investment programmes to manage organisational change successfully.

Drawing on their experience of working in and managing organisations of all kinds, EMB can perform an organisational needs analysis - either in a live consultation or online - to pinpoint potential problems. They can then suggest a tailor-made solution and broker to a quality assured provider market.

EMB deliver / have delivered major public-sector contracts such as:

'Business Link' remains the government's support service for business

Stephen Smith, Chief Executive of EMB Limited, the organisation responsible for delivering the regional Business Link service says, "Since the regional Business Link service was launched in 2007, we have supported over 70 per cent of the established business community across the East Midlands, helping them to access the very best information, support and advice and remain the primary gateway to business support. The performance figures to date demonstrate that we are delivering our promise to increase the number of businesses benefiting from Business Link services. It is important that we continue to maintain this success and build on it in the future."

Performance figures for 2009/10 show that in the East Midlands, Business Link has helped 2,310 new businesses to survive through their all important first year of trading. In addition the support that it has provided to businesses has helped to create 5,046 jobs. Its advisers have carried out over 17,000 business reviews to help local enterprises increase their competitiveness and ride out the recession and provided information, support and access to in-depth assistance for over 5,500 businesses.

Customer service was also given a thumbs up with a 90 per cent independently verified satisfaction rate.

With over 80 per cent of Business Link's staff in customer facing roles, and the recent announcement from the Department for Business, Innovation and Skills that Business Link remains the government's support service for business and will continue to offer the same quality and level of support to local businesses in their areas, the region's enterprises can continue to benefit from swift local access to valued, trusted and high quality advice and support in the East Midlands.

Business Link is encouraging business people to take a step back and review their business processes to ensure they are in good working order and to identify where improvements can be made. To assist with this, Business Link is offering a free business review to help identify future improvements and opportunities that can help a business shine above its competitors.

Arrange a free business review

Take advantage of Business Link's free fast track Business Review. Claim a priority meeting with a Business Link adviser to investigate key areas of your business – such as skills, finance, marketing and operational processes. The review will focus on actions for future development and help identify areas of improvement that can deliver real benefits and boost your business.

To arrange your review, complete the online registration form, email info@businesslinkem.co.uk or call the Client Contact centre on 0845 058 6644.

Solutions for Business

Solutions for Business is a package of publicly funded business support products and services designed to help businesses start, grow and succeed.

Solutions for Business products are designed to equip businesses with the necessary knowledge and skills needed to tackle issues they might be facing.

Funding for your business

For many new businesses sourcing the right type of finance is of paramount importance. Often companies cannot begin to operate fully until they have some form of financial backing.

There are a number of different ways in which you can apply for funding and investment. For more information contact the Client Contact Centre on 0845 058 6644 or alternatively you can request a call back at your convenience.

You can also subscribe to free eNewsletters to be kept up to date with funding opportunities and advice.

Grant finding scheme

GRANTnet is a straightforward free to use service that can help you to identify suitable funding for your activity or project.

It allows community and voluntary groups, sports and other clubs, schools, social enterprises and small businesses to search across a huge range of funding sources.

What is GRANTnet?

The main features of the interactive database:

  • Inclusion of over 6,000 grants and incentives
  • Data from European Community and government sources
  • The system is updated on a continuous basis
  • Easy to access and use
  • Rapid identification of funding sources

Visit the GRANTnet website to search for grants and funding.

Small loans for business

Small Loans for Business is a source of loan funding for business start-ups and existing businesses that have not been able to secure all of their finance from conventional high street lenders.

Small Loans for Business provides loans to both existing entrepreneurs and people starting a business. Loans of £3,000 to £20,000 can be used to turn your ideas into a new business or to grow your existing business if you can raise 30 per cent of the value of the loan. The purpose of this fund is to support individuals with a viable business idea who require finance. This includes those in disadvantaged communities and under-represented groups.

Find information on Small Loans for Business on the East Midlands Development Agency web site.

East Midlands early growth fund

Are you seeking early stage investment to grow your business?

The East Midlands Early Growth Fund is a £5million venture capital fund that has been set up to invest in start-up and early-stage businesses based in the East Midlands.

The fund, managed by fund managers E-Synergy Limited, look for companies with compelling business propositions, some element of innovation or first-mover advantage and clear growth potential, across all sectors.

The fund invests on commercial terms alongside private investors for an equity stake in your business, it is not a grant.

The fund is usually the first institutional investor in a company, after friends and family funding, and it can invest up to £100,000 alongside other private sector investors. The fund can also invest up to £400,000 in follow-on financing.

Contact Amy McNeil on 01327 856 032 or alternatively visit the Early Growth Fund web site for further details.

£20m urban development fund open for business

In 2009, East Midlands Development Agency (emda) announced a new £20m Fund to support the development of premises focused on innovation and growth. This was to provide much needed investment for schemes – which have been hit hard by the recession and the lack of available finance – that will enhance the region’s offer in terms of innovation, science and technology facilities.

The East Midlands Urban Development Fund (EMUDF) has been set up by emda and has already secured £15m - £5m of which is emda’s own funding, with the additional £10m coming from the European Regional Development Fund (ERDF). The creation of the EMUDF has been supported by key partners from across the East Midlands that work closely to guide ERDF delivery.

"Funding will be offered in the form of equity, loans or guarantees and the EMUDF will make repayable investments in schemes that will secure the future growth and competitiveness of the region".

Following a competitive selection process, the property and finance specialists, King Sturge Financial Services, were appointed at the end of 2009 to manage the Fund and engage with public and private sector partners to identify development opportunities.

For more information about the Fund or to discuss investment opportunities, please contact Jonathan Bull-Diamond at King Sturge on 07740 542 755.

(jonathan.bulldiamond@kingsturge.com) or visit www.eastmidlandsurbandevelopmentfund.co.uk.

Last updated: Tuesday, 11 October 2011 5:00 pm

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