Priority 2: SME Development, Technology and Innovation
Measure 1: Support for Start Ups and Micro-Enterprise
Measure 2: Support For SME Development
Measure 3: Business Support for Technology and Knowledge Based Industries
Measure 4: Creating a Better Environment for Busines
Measure 5: Management And Skills Development For SME Development
| Measure 2.1: Support for Start Ups and Micro-Enterprise | |
| Objective: 'to support the development and survival rates of new companies through the provision of appropriate support services' | |
| Principles | |
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Support new businesses to ensure high survival rates, particularly in the first 2 years.
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| Aims | |
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To encourage the development of higher quality new business start ups. To reduce the number of businesses who fail, particularly in the early years To achieve a higher rate of new firm formation | |
| Funding Available | |
| 7.7% of Priority 2 allocation to eligible areas approximately £4.7m |
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| Type of project eligible for ERDF Funding: | |
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1. pre-start market research, counselling and advice, including business planning, legal & fiscal advice and other aspects of entrepeneurship; 2. assistance to develop marketing, financial and/or growth plans; 3. assistance to secure patents and intellectual property rights; 4. grant and loan funds, and assistance to access finance; 5. support for team start-ups; 6. promoting the use of ICT and E-commerce by new businesses; 7. provision of aftercare at the post start-up phase; 8. idea generation/ business simulations; 9. networking/ dissemination support; 10. research to assess local business formation levels and survival rates; and 11. support for creation and growth of new community enterprises and social economy organisations. | NEW FIRMS ARE DEFINED AS THOSE ESTABLISHED / TRADING FOR LESS THAN 18 MONTHS |
| Who is eligible for funding: | |
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Small Business Service and SBS contractors South West Regional Development Agency Enterprise and development agencies and other intermediary bodies assisting SMEs Local authorities Chambers of Commerce |
Priorites and Measures Main Page
| Measure 2.2: Support For SME Development | |
| Objective: 'to improve competitiveness through the provision of high quality business development support, which encourages firms to introduce new technology, ensures that small companies have access to capital to develop their business and helps firms diversify' | |
| Principles | |
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Overcome the problems SME's face when attempting to expand. s Promote company growth and employment creation. | |
| Aims | |
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To encourage innovation and the take-up of new technologies To improve access to appropriate finance for growth To increase the utilisation of ICT and E-commerce To provide specialist advice to help the diversification of land-based businesses | |
| Funding Available | |
| 43.5% of Priority 2 allocation to eligible areas approximately £26.5m |
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| Type of project eligible for ERDF Funding: (Revenue only) |
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1. business support packages including, new market development; marketing uptake of new technologies and ICT, financial and business planning, management and internal structures, design and innovation, and operations and systems; 2. research into the problems and needs of SMEs i.e. research into the factors affecting business growth; individual sector analysis of factors affecting business growth; 3. counselling and advice; provision of information, and other signposting services; 4. mentoring; feasibility/ risk management studies (individually or in groups); 5. management team development; 6. introduction of quality systems; supply chain initiatives; 7. collaborative and co-operative ventures, branding development, cluster and joint-working initiatives, networking and dissemination support; 8. venture capital funds or other financial instruments which improve SMEs access to investment finance, including interest rate subsidies, flexible repayment terms and loan guarantees; 9. grant and loan funds and other customised financial instruments, financial packaging service; and 10. support for the growth of established community enterprises and social economy organisations. | |
| Who is eligible for funding: | |
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Small Business Service and SBS contractors South West of England Regional Development Agency Local authorities Higher and further education institutes Enterprise and development agencies and other intermediary bodies assisting SMEs |
Priorites and Measures Main Page
| Measure 2.3: Business Support for Technology and Knowledge Based Industries | |
| Objective: 'to increase competitiveness, the rate of innovation and usage of technology as a means of enhancing business growth' | |
| Principles | |
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Ensure that firms invest in new technologies, processes and seek to develop new ways of conducting their business in order to remain competitive. Encourage the use of ICT by businesses in the Objective 2 area is below national average. | |
| Aims | |
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To ensure that all SMEs have access to comprehensive, high quality business support To develop linkages between the area's HE and FE institutes To support the expansion of technology-related and knowledge-based businesses | |
| Funding Available | |
| 10.5% of Priority 2 allocation to eligible areas approximately £6.4m |
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| Type of project eligible for ERDF Funding: (Revenue only) |
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1. feasibility studies, research and market assessments for SMEs to explore new technology and innovation opportunities, and new product development; 2. financial engineering actions linked to the introduction of new technology or development or innovation; 3. targeted support for spin out and fast track high technology companies; 4. provision of advice, guidance and support for innovation, technology design (including technology audits), product development, licensing, marketing and promotion; 5. actions to transfer knowledge and expertise of FE/HE sector to SMEs, including the encouragement of new spin out companies and the promotion of greater linkages between the academic and business communities; 6. development and implementation of sectoral strategies, supply chain initiatives, business networks and other collaborative arrangements, demonstration projects; 7. actions to assist SME to take advantage of e-commerce opportunities; and 8. provision of aftercare and ongoing mentoring assistance. | |
| Who is eligible for funding: | |
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Higher and further education South West Regional Development Agency Small Business Service and SBS contractors Enterprise and development agencies and other intermediary bodies assisting SMEs Local authorities |
Priorites and Measures Main Page
| Measure 2.4: Creating a Better Environment for Business | |
| Objective: 'to increase competitiveness through ensuring that there is sufficient provision of affordable premises, facilities and infrastructure which meets the needs of new and expanding companies' | |
| Principles | |
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Address problems facing business in relation to property and access to other facilities | |
| Aims | |
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To provide a full range of business infrastructure, particularly ICT infrastructure and services. To provide a range of high quality, affordable sites and premises | |
| Funding Available | |
| 43.5% of Priority 2 allocation to eligible areas approximately £26.5m |
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| Type of project eligible for ERDF Funding: (Capital only with the exception of feasibility studies and research linked to future capital investments) |
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1. preparation and servicing of high quality sites, and the provision of high quality accommodation, including incubators units, managed workspace and other facilities geared to the needs of new and existing SMEs; 2. returning land to economic use through the removal of dereliction and reclaiming brownfield sites; 3. development of new and existing support facilities and specialist centres needed to improve SME's ability to innovate, adopt new technologies and working practices 4. improving the linkage between areas of high unemployment and business locations including public transport and transport infrastructure; 5. upgrading of existing employment space to accommodate electronic technology applications; 6. provision of ICT infrastructure where the market fails to provide; and 7. provision of new and improvement to existing vocational training infrastructure. | |
| Who is eligible for funding: | |
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South West of England Regional Development Agency Local authorities Enterprise and development agencies and other intermediaries assisting SMEs Private sector Further and higher education institutes Voluntary sector. |
Priorites and Measures Main Page
| Measure 2.5: Management And Skills Development For SME Development | |
| Objective: 'to support the provision of management and skills development training' | |
| Principles | |
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Meet the current and future demand for skills by raising workforce skills Seek to address the constraints faced by business by providing support to companies to up-date the skills of their existing workforce. Raise skill competencies across all levels of the workforce to meet business needs. | |
| Aims | |
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To assist businesses in increasing their competitivenes To develop commitment to updating skills and participation in learning, amongst individuals and businesses | |
| Funding Available | |
| 19.8% of Priority 2 allocation to eligible areas approximately £12.1m |
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| Links to Objective 3: | |
| The measure is complementary to support under the adaptability and entrepreneurship themes of the Objective 3 Regional Development Plan. The Objective 2 ESF will be focussed on whole company support. | |
| Type of project eligible for ESF Funding: (Revenue only) |
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1. the development of customised/flexible provision to suit the needs of SMEs e.g. on-site training; 2. management and team development; 3. initiatives to link graduates to local SMEs; 4. initiatives on higher level skills, particularly ICT ; 5. development of new skills to adapt to new methods, processes, technologies and markets, and to prevent unemployment; 6. specific development advice and support measures to remove barriers to learning and employment; 7. research into future skills requirements in the programme area; 8. skills transfer programmes and customised retraining; 9. personal career counselling, guidance and awareness raising; 10. support for the development of Human Resource plans / strategies and attaining external quality standards such as, Investors in People; 11. Basic skills training which meets SME needs 12. Activities to promote and encourage entrepreneurship; and 13. Customised work experience and vocational training in areas with current and predicted skills shortage. | |
| Who is eligible for funding: | |
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Higher and further education National training organisations Learning and Skills Councils |