Devon County Council - Funding & Support
Thinking about Investing in Devon?
See what support is available...
Invest in Devon provides assistance and support to those seeking to invest in Devon. They have established a wide range of contacts within local councils, business enterprise organizations, and regional development agencies.
Additionally, Invest in Devon serves as a first point of contact, available to answer questions about the county and the opportunities which are presented in the Devon economy. Further information about support for those investing in Devon.
Financial Assistance/Grants
There are two major sources of grant funding and financial support available in Devon.
The Grant for Business Investment provides support for sustainable business investment and job creation projects. The grant is administered directly by the South West Regional Development Agency and is part of the Solutions for Business programme. Projects which are deemed suitable for the grant can receive anywhere from £1,000 to £1 million. Further information is available here.
As a replacement to the Grant Research and Development, the Technology Strategy Board has taken the role previously filled by that programme. It is a government-funded initiative to boost UK growth and productivity. A range of potential opportunities for funding are available, and these may be found here.
Crowdcube Funding
Exeter-based business, Crowdcube, is a new way of raising funds for businesses, based on crowdfunding via micro-payments.
Business West offers three ‘high impact’ business growth services for businesses that can demonstrate ambition, innovation and high growth potential, and have a turnover of £1m +.
- Starting a High Growth Business
- Coaching for High Growth
- Understanding Finance for Business
For further information, please contact Invest in Devon directly here.
Loans
A range of loan programmes are available to businesses in Devon, including:
The Enterprise Finance Guarantee is a government funded scheme which can provide anywhere from £1,000 to £1 million for viable businesses in order to provide working capital and investment funds. For further information on the scheme, please click here.
South West Investment Group (SWIG)
SWIG is the South West’s biggest provider of complementary loan finance to SMEs, offering:
- A portfolio of funds worth £10 million
- Support for enterprises that aid the local economy
- Funds that complement the banks
- Funding for projects where bank support is limited
Incentives, Tax and Others
Devon has a proven track record of business success, with the highest business survival rate in Britain, and overheads which are up to 5% lower than the UK average. Workers in the South West also enjoy the UK’s highest levels of happiness, motivation and pleasure in their surroundings.
For further information regarding incentives to invest in Devon, contact Invest in Devon directly here.
Venture & Equity Capital
Capital for Enterprise Ltd are a professional asset management company which specialises in the design, implementation and management of finance to support small and medium sized enterprises across the UK, including Devon.
In total, more than £500 million has been committed to 40 venture funds, making them the largest single investor in UK venture capital funds. A further £1.5 billion is expected to be handed out by 2015.
The South West Regional Development Agency can provide support in applications for this funding.
More on Capital for Enterprise.
Business Accommodation Assistance
As part of the process of investing into Devon, assistance may be granted with locating, visiting and negotiating for property in the region. Devon has a wide range of industrial and commercial property which is available for investment, as well as undeveloped land.
A database of property is maintained by Invest in Devon here. Potential investors are also encouraged to contact the agency directly with their enquiries.
Mergers and Acquisitions
Invest in Devon has a wide network of contacts in both the public and private sector, and can recommend a variety of sector specific support services for the needs of individual investors. For more information, contact Invest in Devon directly here.
Devon Business Angels provide assistance for existing small companies seeking to expand.
Enterprise Europe Network South West
Enterprise Europe Network South West offers high quality advice and practical support to businesses in the South West, regarding Europe, and the Single Market. The network has excellent connections in over 40 countries, including the whole of Europe, China, Russia, Korea, Chile, Israel, Egypt, Tunisia, and more.
Supported by £13 million of funding, iNets South West aims to strengthen and connect existing networks, harness innovation and exploit new opportunities for businesses.
iNets South West offers business support and advice to five target sectors of the economy:
- Aerospace and Advanced Engineering
- Biomedical
- Creative Industries
- Environmental and Microelectronics
Other
Support Networks in Devon:
Manufacturing Advisory Service
The Manufacturing Advisory Service (MAS) offers practical support to any-sized business on all aspects of manufacturing. MAS offers direct access to experts with a proven track record in the manufacturing industry. Subsidised consultancy services are also available.
MentorsMe is a government initiative aiming to link companies with mentoring organisations that can guide and support their growth. A searchable directory of mentoring support available in different parts of the country is available on their website.
Social Enterprise Support Centre
The Social Enterprise Support Centre (SESC) offers support services to the social enterprise sector via their networks, communications, events, workshops and consultancy.
Rural Focus is the replacement of Business Link’s Rural Service, as of October 2011. Rural Focus provides advice, support and finance for rural, agricultural and land-based enterprises.
Further forms of support:
