August News and Events
Business Information Point
Your local business advisors for over 20 years
Welcome to the latest edition of Enterprising News, bringing you up-to-date information on our workshops, business support, local grant funding and new resources on our website, as well as relevant small business news and events.
Business Support?West Devon and South Hams Business Support
This?programme is fully funded by?West Devon and South Hams local authorities,?this means there is?no cost for the available support. So, if you're thinking of starting your own business and have questions on anything from whether to be a sole trader or limited company, how to use social media, understanding your finances or anything else to get your business off the ground, then we can help.
Equally if you're already in business and would like a sounding board to work through issues you're facing, discuss how to manage the next steps of growth, need some marketing advice, or?any other areas, we can help with that too.
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UK Export Academy for?selling overseas
Do you want to find out how to sell overseas? The UK Export Academy, has a?free training programme designed to give you the confidence and know-how to sell overseas, in your own time.
News & Guides
Summer brings good news for seasonal firms
A new study has found that this summer sees a two-year high for the proportion of seasonal businesses predicting growth for the quarter ahead.?
Tracking data from?Novuna Business Finance?has found that 40% of small seasonal businesses predict growth for this summer - a 25% rise on the start of the year and a favourable position compared to non-seasonal businesses. Around four in ten SMEs class themselves as seasonal businesses.
The findings are from Novuna's Business Barometer study, which has tracked small business growth forecasts every quarter for the past nine years. The latest survey of 1,103 small business owners has revealed significant divergence according to the age of the business:
Some sectors are also doing better than others, it seems. In the hospitality sector, growth forecasts have improved - up from 24% to 36% over the past six months. In transport and distribution, growth forecasts have hit an 18-month high at 35%.
Set against this, growth forecasts in the retail sector have hit a 12-month low, falling to 27% and the percentage of small businesses predicting growth in both manufacturing and IT/telecoms has hit a two-year low (32% and 35% respectively). Growth predictions are also falling in the construction sector.
"Small businesses that rely on seasonal peak periods are leading the sector's growth forecasts. Seasonality can be a blessing and a curse for small businesses, given these enterprises depend more heavily on shorter peak periods for trading. When market conditions favour them, things can go well but disruption from challenges like the pandemic, interest rate rises and extreme weather can hit them hard. It is pleasing to note from our latest study that seasonal small businesses out-strip the national average in predicting growth for the summer period."?
Jo Morris, head of insight, Novuna Business Finance.Full Article
Events
11th October |?Devon Business Show 2023
Plymouth Pavilions, Millbay Road, Plymouth, PL1 3LF
Devon & Plymouth Chamber of Commerce is bringing back the South West’s largest business event on Wednesday 11 October, connecting hundreds of businesses and entrepreneurs with future clients all under one roof.
Introducing?City College Plymouth,?YGS Landscapes Ltd?and?Wildanet?as?our respective ‘People and Skills’, ‘Planet’ and ‘Purpose’ headline partners, reflecting the Chamber’s three strategic priorities.
Look out for more information about this fantastic event in the coming weeks.
12th September |?How to supply Somerset Council
Have you ever thought about supplying your local council?
Join this?interactive event in Taunton on Tues 12th September to find out how to make Somerset Council your next customer.?
Meet and hear from members of the council's procurement team, find out how to know what contracts are coming up, how to apply for them and learn?how to get on the radar for those smaller jobs and purchases which do not need to be tendered.
Non-members are welcome.
To book this event please contact 01823 444924 or alternatively email using button below.Find out More and Book
Funding Updates
There are a range of?local funding opportunities?available through the Rural and Shared Prosperity Funds. These are distributed through you local authority. You can find the details for your local council through the?Local Government Association website.
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How we can help
Unfortunately there is no funded support available but we have a wealth of experience with putting together strong funding applications to give the best chance of success. If you do need assistance with your application, we can help you on a commercial basis at a competitive rate, so please get in touch to discuss.
Visit our website through the link below to see all the current funding opportunities available. We do try to keep this updated so please check back from time to time. We've also highlighted some new funds below.
Mid Devon Prosperity Programme?
Mid Devon District Council (MDDC) has launched a portfolio of new grant schemes to support businesses and other local organisations. There are five new grant schemes:
BIP can offer you a wealth of experience in helping business put in strong funding applications and can help support you with your application at a competitive hourly rate.?
Young Devon & South West Enterprise Fund
Young people in Devon can now apply for grants to help them get into training and employment or to set up their own business.
There are two funding opportunities:
Training & Employment Support Grant
Up to ￡500 for any young person (16 to 30) who is entering training, an apprenticeship or starting a job after being unemployed. The grant can be used for essential items to help access training or employment, for example, interview clothing and travel costs.
South West Enterprise Fund
Up to ￡2,000 for young people (18 to 30) with plans to start their own business within 6 months or have a business trading for less than 2 years. The grant is for costs directly related to the business, for example, purchasing equipment or machinery, printing marketing material or purchasing stock. You must have a business bank account for the funds to be paid into.
Unlocking Potential Awards 2023
Innovators can apply for an award to start up or grow their business. The Unlocking Potential Awards provide support and funding to innovators from groups that are currently underrepresented or overlooked in innovation.
Innovators who identify with one or more of the following groups of people are eligible to apply:
The programme is open to innovators who are just beginning their career and those who are expanding their businesses, with two streams available:
South West Investment Fund
New and growing businesses in Devon can now apply for loans and investment from the new ￡200m South West Investment Fund. The fund has been launched by the British Business Bank to boost productivity, innovation and jobs in the South West.
NLCF: The UK Fund
The National Lottery Community Fund (NLCF) has launched the first new fund as part of its 2023 -2030 strategy. The UK Fund is about bringing people together from different backgrounds, generations and locations. Projects must either work across the UK, or be able to inform, influence or scale across the UK.
The aim is to fund ambitious projects that look to create longer-term, transformational change by bringing people together and making a better-connected society. There is therefore a focus on the following:
Every project must demonstrate that it will:
Grants are in the range ￡500,000 to ￡5m for projects lasting from 2 to 5 years.
All the best
The Business Information Point Team
0800 592 872