Member Article

?No-nonsense guide' to help businesses find finance

With Jill Lee of Business Link

A new online guide to help small and medium sized enterprises (SMEs) access funding for growth and innovation has recently been launched by the Government.

Investing in innovation is crucial to businesses looking to bring new and improved products and services to the market and boost their profitability. During the downturn this is especially important but will become even more vital for North East businesses that want to grow and become more competitive as the upturn comes.

The new, ‘No-Nonsense Guide to Finance for High Growth and Innovative Businesses’, will act as a one stop resource for companies which want to know where and how they can access sources of funding available to support innovation. The guide can be accessed free of charge at the Business Link website: www.businesslink.gov.uk/no-nonsense.

The online guide bridges the information gap between providers of funding and SMEs to ensure they can find out about and access the full range of funding options available to support innovation. Advice on the funding options and processes available to SMEs is available and businesses are also directed to the correct outlets in which to receive the advice they require.

Minister for Science and Innovation, Lord Drayson, said: “Supporting businesses to innovate and grow is especially important during the current downturn. It is these firms that will create the jobs, products and services of the future.

“Accessing funding is vital for any business, whether through grants to support development, loan guarantees or tax credits to invest in scientific and technological research. This No-Nonsense guide will ensure businesses are fully aware of their options, bringing together the information that businesses need to get support and get on.”

The launch of the new guide is designed to increase awareness of the funding available to SMEs for innovation.

It also follows the recent launch of ‘Solutions for Business’ - a simplified portfolio of business support products which will make it easier for companies to find the help available for common business issues, such as growing, finance, skills, innovation and the environment.

For more information visit www.businesslink.gov.uk/northeast or call 0845 600 9 006.

This was posted in Bdaily's Members' News section by Ruth Mitchell .