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Briefing - Solutions for Business
Business Enterprise North East would like to share some important news about new products which will be introduced from 1 July 2009. The new products form part of Solutions for Business which is a package of support products and services, available to help companies and individuals start, grow and succeed in business. It targets areas of market failure to help businesses with common problems such as starting andgrowing a business, innovation and finance. The products replace the current Solutions Fund for pre-start, start up and established businesses through the North East England Investment Centre.
What are the new products?
The table below gives summary details of the new products and the type of support available.
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Product summary |
Examples of the type of support available |
| Intensive Start up Support |
- Available 6 months before and up to 6 months
after a business has started trading
- Normally a maximum investment of £8,000
- Up to 70% funding
- Aims to remove barriers and improve survival
rates of new businesses
- Customers should either have a written business
plan or be able to explain their plans for the
business. Therefore a formally written business
plan is not required
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- Development of a product, process or service
- Branding and corporate identify
- Business and financial planning
- Company structure
- E-commerce and e-marketing
- Bespoke ICT software
- Marketing including research and the
development of a strategy
- Mentoring
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Starting a High Growth
Business |
- Available 6 months before and up to 6 months
after a business has started trading
- Ambition to turnover £500k a year within 3 years
- Normally a maximum investment of £45,000
- Up to 70% funding
- Customers should either have a written business
plan or be able to explain their plans for the
business to our staff. Therefore a formally written
business plan is not required
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- Development of a product, process or service
- Branding and corporate identify
- Business and financial planning
- Company structure
- E-commerce and e-marketing
- Bespoke ICT software
- Marketing including research and the
development of a strategy
- Mentoring
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Innovation Advice and
Guidance |
- Supports small to medium size enterprises to
identify opportunities, implement change and
become more innovative, more competitive and
more profitable
- Normally a maximum investment of £19,500
- Up to 50% funding
- Existing businesses
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- Developing new ideas, products, processes and
services
- Improving existing products and services
- Investigating and introducing new technologies
- E-commerce and e-marketing
- Business, financial, marketing strategies for new
or improved products, processes and services
- Development and protection of intellectual
property
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| Innovation Vouchers |
- Encourages small to medium size enterprises to
work with universities, colleges and other
innovation partners – collectively known as
Knowledge Based Institutions
- The voucher helps businesses to innovate and
improve their performance
- Investment from £3,000 up to a maximum of
£7,000
- Existing businesses
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- New product design or development
- New or improved processes and services
- The development of a new business model
- An innovation or technology audit
- Experimenting, testing or measuring
- Supply chain management or logistic
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How can you find out more?
You can get more information by contacting there-fore.com 0191 286 9833 or Business Link on 0845 600 9 006.
How do we access the new Solutions for Business Products?
Solutions for Business Products are accessed through the Business Link Service.
When will the changes come into effect?
The changes will come into effect on Wednesday 1 July 2009.
What about other funds operated by the North East England Investment Centre (NEEIC)?
We will continue to offer support to businesses from other funds in the NEEIC which include Rural Development Programme for England, Flexible
Skills Fund, Regional Skills Fund and Business Resilience Fund.
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Grant Funding
