Tags: #GrowMySME, Business, Business Support, ERDF, ESIF, Funding, Grants, Growth, Humber, Investment, Northern Powerhouse Investment Fund, NPIF

Delivered as a product of the Humber Business Growth Hub, this three year programme of investment readiness support is focused on enabling SME businesses to access finance.

It provides an intensive Humber-wide programme of support through a network of specialist advisors and associated small grants scheme that will cover up to 40% of the eligible costs of SME beneficiary projects which will enable them to become investment ready.

The programme will:

  • Enable SMEs to take full advantage of the growth opportunities provided by the right package of finance
  • Deliver a comprehensive programme of workshops and masterclasses
  • Provide targeted grants (up to 40% of eligible costs) where part of a specific growth and investment strategy
  • Assist SMEs to understand investor requirements and develop corresponding strategy/business plans
  • Assist SMEs to understand and negotiate the financial support landscape
  • Provide specialist support in relation to company growth plans
  • Support the assembly of tailored packages of finance to aid SME growth and expansion
  • Grow awareness and understanding of the various finance options available including equity finance
  • Signpost to other relevant support, expertise and development opportunities

Project Dates

June 1, 2018 - May 31, 2021

Project Sponsor

Hull City Council

Location

Humberwide

Funding

£1,556,673 ERDF investment through the Humber ESIF Programme – total investment including match funding £2,594,455.

Outputs

The scheme is expected to deliver support to 250 SMEs and provide grant support to 118 beneficiaries.  It will support the creation of 50 new employment opportunities and leverage £963k of private sector investment.

Approval Status

Business case approved

Delivery Status

Started

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Last updated: November 27, 2018