Funding
How to Access Funding for Business Training and Development.
Investing in effective business development and training is a crucial aspect of successful management of your venture. This investment should yield results that will drive your business forward and provide greater success.
While the opportunity for funding is generally fairly limited and should not be seen as a panacea to the day to day issues of running your business and managing your cash flow, it is possible to find funded support for your business training and development.
We work very closely with the UK government support agencies for business development and funding, and with their accredited brokers and agents. The funding is often provided by European economic development initiatives which are then directed through to the UK or to regions within the UK, such as Yorkshire & Humberside.
It might be helpful to try and explain how these work, the simplest option will be for you to let us know what training or development projects you are looking to fund and invest in this year.
The main areas of work that we provide for Yorkshire companies are of either: a Strategic, a Business Development, or a Sales & Marketing nature. In addition to these three core strengths we can also work with you on aspects of Staff Development and Training, and with a practical assessment of how the change that is required within your business can be monitored, and implemented successfully while your business stays on track.
Provided your business has needs that are in line with these, the funding routes that we can potentially secure for your business are as follows:
Your Potential Funding opportunities
- For Owner-manager support we have a process where £1500 of Strategic Support (usually delivered in the form of mentoring or coaching) for the Owner and can take place at a net cost of just £500. The £1,500 is paid on presentation of invoice and then £1,000 claimed back from the funder. This provides 66% funding.
This route is intended for companies that have more than 10 employees, but it can also be adapted to companies with less employees where the ‘payroll’ comprises several volunteers.
- The second is for larger projects that are perhaps more specifically targeted at Business Development, Sales & Marketing support and learning, Staff Development and Training. A typical project might be run over a 6 month to 1 year period and qualifies for the 60% grant funding element.
This can potentially be for a large and costly project that you want to implement, and where there may have been some delays due to investment cost concerns. This route is intended for companies that have more than one employee.
- High Growth Activity. If your company has some new activities which can be seen as a High-Growth spin-off from an existing parent company, or where the start-up business will turnover more than £120,000 by end of year two and achieve this in a Business to Business context, then the venture may (subject to assessment procedure) will qualify for a voucher (typically worth a few thousand pounds and provided to the client for redemption by the delivery company i.e. Yorkshire Business Services).
We hope that these funding ideas will serve as a prompt for some useful discussion between us.
Send us an email to profit@yorkshirebusinessservices.com with FUNDING HELP REQUEST in the Subject Line and once we know this (and it will also be helpful for us to understand a bit more about your business operation, number of employees, etc), then we will be pleased to discuss with you the ways we could contribute to you achieving those goals and we can explain the appropriate type of funding to apply for. |
