Locate in Leeds - Funding & Support
Leeds City Council’s business and enterprise team provides a range of free services to assist companies and organisations looking to relocate or expand their operations to the city.
A database of available commercial property is maintained to assist companies looking for new premises in Leeds. Individually tailored searches can be carried out by the council’s business and enterprise team. Companies can also carry out their own searches online at www.locateinleeds.co.uk.
Detailed information on the Leeds economy, labour and property markets can be provided to assist companies with their feasibility studies for expansion or relocation.
Leeds City Council works closely with Leeds Chamber and other business support organisations and can assist in accessing Leeds’ extensive network of business and sector support organisations.
Support is also available for Leeds-based companies looking to expand and start-up companies seeking their first premises.
Small grants are currently available for companies seeking to increase their headcount, whilst substantial incentives for the forthcoming enterprise zone (EZ) in the Aire Valley will be available in the form of business rates relief and a streamlined planning process.
Financial Assistance/Grants
There are various support, advice and funding options available to start-up and existing companies, as well as investors, and Business Link Yorkshire and the Business Growth Fund, managed by Leeds City Council, offer grants to contribute to training, marketing, and export activities.
The Princes Trust is a charitable organization dedicated to providing assistance to people looking to overcome barriers to become self-employed. Assistance is available to all individuals between the age of 18-30 who are unemployed and have a business idea. Financial assistance, support and advice, and other help invaluable to new entrepreneurs are available to successful applicants.
The Business Growth Fund provides grants of £1,000-£10,000 to help SMEs with capital costs linked with job expansion in Leeds. The grant may be used for capital equipment, machinery and tools, alterations to land/premises or security measures linked to expansion projects.
Loans
Low-cost business loans are available to businesses unable to attain high street lending, thanks to the Leeds LEGI programme, Sharing the Success, delivered by Leeds City Credit Union in collaboration with Business Enterprise Fund.
Loans of up to £5,000 are available to start-up businesses in disadvantaged areas of Leeds, as part of the £200,000 loan fund set up by Leeds City Credit Union, which will help finance the first stages of the business.
Business Enterprise Fund is also offering loans between £5,000 and £60,000, as well as guidance and support to all their clients, aimed at helping new businesses to start up and expand.
Incentives, Tax and Others
It is envisaged that the forthcoming Enterprise Zone in the Aire Valley will feature business rates reductions from May 2012. Please contact the team for further details.
Business rate relief may also be granted depending on circumstances. For further details click here
Tax incentives are also available for projects in research and development. These incentives range from tax relief to tax credits depending on the size of the projects and the size of the businesses involved. Further information is available on the HMRC website here.
Business Education & Support Teams are available from HMRC who can run workshops in order to assist business owners in being aware of their tax responsibilities. More information on this service is available here.
Venture & Equity Capital
The Yorkshire Association of Business Angels (YABA) is a non-profit organization dedicated to providing start-up equity capital to entrepreneurs in the Yorkshire region. Established in 1995, the organization has grown steadily and now encompasses 170 Angels and Associate members.
YABA regularly hold a programme of events in which potential entrepreneurs who struggle to finance their projects through conventional means can meet with investors who are looking to assist in those vital first steps. They are able to present business proposals to a wide range of potential investors and approximately 3 in 20 pitches are followed up with investments following these forums.
Recruitment / Financial Support
Leeds City Council works proactively with other local authorities, education and training providers and employment organisations to tailor packages to support inward investors looking to create jobs in Leeds or the wider city region.
Locate in Leeds are also available to assist with recruitment and retention of staff throughout the relocation process. Locate in Leeds aim to provide a single point of contact for recruitment, and can advise businesses and investors on the current labour market of the city and likely factors that individual investors will need to be aware of.
For further information, please contact Locate in Leeds directly.
Business Accommodation Assistance
A database of available commercial property is maintained to assist companies looking for new premises in Leeds. Individually tailored searches can be carried out by the council`s business and enterprise team. Companies can also carry out their own searches online at www.locateinleeds.co.uk.
Tours of the city can be arranged at all stages of the decision making process. In addition to sites and premises, tours can be expanded to cover housing, leisure and shopping facilities. Presentations and tours can be arranged for key staff and their families, delivered direct or through the client’s relocation consultants.
Support is also available for Leeds-based companies looking to expand and start-up companies seeking their first premises.
Mergers and Acquisitions
The Public Private Partnerships Unit cements strategic partnerships to support the development of the city’s services and infrastructure.
They have secured more than £1 billion of investment for the city, and boast a vast portfolio of diverse projects.
Their success in facilitating PPP/PFI projects has been recognised by several industry awards.
