We are working hard to ensure we can provide support to all businesses in the region, no matter size or sector, which is why we have launched a variety of funding and support packages and continue to adapt and develop new provisions. We also appreciate that each sector will need specific support and guidance related to their sector. There is a range of support available for a variety of sectors, all in one place below:
Innovation
Future Fund
The £500m Future Fund enables innovative and high-growth British businesses the ability to secure investment to help them through the coronavirus outbreak.
UK-based companies can apply for a convertible loan of between £125,000 and £5 million, to support continued growth and innovation in sectors as diverse as technology, life sciences and the creative industries.
The Future Fund is open to UK-based businesses that have previously raised £250,000 in equity investment from third parties in the last 5 years. Businesses should have at least 50% of their employees based in the UK, or generate at least half of their revenue through UK sales, and will also need to have private investors to match the Government investment. Match fund investors will be encouraged to sign the Treasury’s Investing in Women Code, which commits to improving female entrepreneurs’ access to tools, resources and finance.
The Government will amend the rules of the Enterprise Investment Scheme, which provides tax relief to investors in high growth firms, to protect Future Fund investors from losing relief on any previous investments made prior to any investment through the Future Fund.
The Fund will be open until the end of September 2020 and is being delivered in partnership with the British Business Bank. For further details and eligibility criteria, click here.
Innovate UK
Innovate UK have established a coronavirus business support package, with a range of products available to support existing Innovate UK award recipients and new projects.
Click here for further information on the package
Click here for information and to apply for current innovation funding competitions
Creative Industries
Creative Growth South provides free, personalised support to creative businesses and freelancers in the Solent region to help them build a sustainable income and prepare for growth.
The project is targeted at freelancers or micro businesses with 3 months or more trading experience and with a projected turnover of between £10k and £30k.
Support could include a diagnostic session or up to six personalised business support sessions to enable micro businesses to bounce back after COVID-19.
To book an online support session, contact Nicky Curtis on 07770 901208 or by email. For more information, click here.
Spektrix is an online converter to help convert refunds into donations to the business during this challenging time. The tool is available for free to all cultural organisations, regardless of the ticketing system used.
Creative Industries Federation are offering free membership for 6 months in order to help creative individuals and businesses in this time of crisis. Sign up at the federation website.
Firstsite are providing free artist activity packs to keep artists inspired. The packs include contributions from UK artists such as Antony Gormley, Gillian Wearing, Idris Khan and many more. It is completely free to download, simply fill in the form.
