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Funding and support

Information about potential funding and incentives available as well as support available from the council and other organisations.

Is there funding available to help my business?

Yes, grants are available for a number of business activities or projects around the UK and cover many business sectors. Grant funding is intended to support and develop enterprise in the hope that it will also provide a boost to employment and the local economy. A variety of organisations and Government departments offer grants and, no matter what size your business is, you may be eligible for some of them.

You can visit the following websites to find out more about what help is available and what to do next to find out whether you qualify for funding:

Open4Business

Open4Business is a portal provided by East Riding of Yorkshire Council designed to help businesses locate up to date funding opportunities.  To search for grants for your business you will first need to register on the Open4Business website:

Open4Business (external website)

If there are no grants available for your business you may be eligible for a business loan. In the first instance, you should speak with your bank, however, if they are not able to help there are other funding sources some of which are detailed below. We would always recommend you speak with one of our business advisers prior to applying for any loan fund.

Contact a business adviser online

Local Enterprise Partnerships

The East Riding sits within two Local Enterprise Partnership areas.  Local Enterprise Partnerships work with public and private sector partners to develop economic growth within the local area:

The Humber Local Enterprise Partnership 

The Humber Local Enterprise Partnership (LEP) operates two programmes for businesses seeking funding for growth.  Further information can be found here: 

Humber LEP - Business funding (external website)

The York, North Yorkshire and East Riding Local Enterprise Partnership

The York, North Yorkshire and East Riding Local Enterprise Partnership’s funding information can be found here:

How's Business (external website)

Start-up Loans

A government-funded scheme to provide advice, loans and mentoring to startup businesses:

Start-up loans (external website)

Acorn Fund 

Acorn Fund is a registered community development finance initiative formed to provide financial support for businesses who are unable to raise finance from traditional sources:

Chamber Acorn fund Humber (external website)

Sirius

Sirius can offer business loans to local people seeking to establish a business in the area, or to expand an already successful business:

Sirius (external website)

Goole Development Trust

Goole Development Trust (GDT) is a social enterprise which helps with the economic, social and environmental regeneration of Goole and the surrounding area. As a not for profit company GDT offers a range of loans for new and existing businesses with all profits being reinvested into the community:

Goole Development Trust (external website)

Finance Yorkshire 

Finance Yorkshire is a 90 million pound fund which provides businesses across Yorkshire and Humber with funding to start and grow:

Finance Yorkshire (external website)

GOV.uk - support for innovative business ideas

The Department of Business, Energy & Industrial Strategy (BEIS) brings together responsibilities for business, industrial strategy, science, innovation, energy and climate change:

GOV.UK - Department for Business, Energy & Industrial Strategy (external website)

You can find schemes at:

GOV.uk - Business finance and support finder (external website)

An overview of business finance: 

GOV.UK - Business finance explained (external website)

The Department of International Trade (DIT) secures the UK and global prosperity by promoting and financing international trade and investment and championing free trade: 

GOV.UK - Department for International Trade (external website)

The Department for Environment, Food and Rural Affairs (DEFRA) - support for agricultural or rural businesses: 

GOV.UK - Department for Environment, Food and Rural Affairs (external website)

Technology Strategy Board (Support for innovative business ideas): 

GOV.UK - Innovate (external website)

Are there any incentive schemes to encourage businesses to locate in the East Riding?

Yes. There are currently the following schemes which you may be eligible to help from:

Enterprise Zones

Enterprise Zones are areas around the country that support both new and expanding businesses by offering incentives. The Humber Enterprise Zone is the largest in the country and it is looking to expand the key sectors in the area, including renewables, ports and logistics and advanced manufacturing.

Benefits to a business looking to locate to an Enterprise Zone

Enterprise Zone status allows businesses locating in the Enterprise Zone area to benefit from a package of measures to make setting up business easier and to encourage inward investment and job creation. Benefits include:

Fast-track planning 

A key benefit of development land within the Enterprise Zone is the simplified planning process, speeding up the construction of sites for tenants. 

Enhanced capital allowances 

The Humber offers companies locating in its Enterprise Zone enhanced capital allowances. This allows companies locating on there to write down 100% of the costs of qualifying plant and machinery against their taxable income in the first year.  

Property tax breaks 

Discounted business rates are available up to De Minimis levels – potentially up to 400,000 Euros over 5 years.

Location of the Humber zones

You can download information on the Humber Enterprise Zones, including a map showing the location of the sites:

Humber Enterprise Zones - The UK's Energy Estuary digital brochure (pdf 5.44mb opens in new window)

CON_TAB
Get in touch
Email:
inward.investment@eastriding.gov.uk
Phone
(01482) 391614

Read more about the development sites available in the area. 

Green Port Growth

The Green Port Growth Programme is administered by East Riding of Yorkshire Council and Hull City Council.  Businesses of all sizes are eligible for support if they are interested in, or part of the renewable supply chain.

With an investment of over £25.7m, the programme, (which is supported by the Government’s Regional Growth Fund), is designed to capitalise on renewable opportunities and to develop indigenous business growth within the renewable sector and secure long-term economic growth for the region. 

The project aims to provide continual support to help local businesses recognise and embrace potential opportunities within the renewables sector.  

For further information about Green Port Growth please visit: 

Green Port Hull - Business Support and Investment (external website)

Potential support available through the Green Port Growth programme

Your business could receive:

  • Help to recognise potential opportunities within the industry in the form of; 
    • Monthly news round-ups – including events and funding information
    • Business workshops
    • Business audit/review
    • Develop an action plan with the business support team
  • Financial assistance to support companies to meet supplier requirements 
  • Apprenticeship wage subsidies 
  • Training subsidies to up-skill existing employees and train employees in specific skills 
  • Support for companies to promote themselves at exhibitions and events 
  • Development of new products and processes

Eligibility (Green Port Growth programme) 

If your business is based in Hull and the East Riding you potentially have full access to the Green Port Growth programme. If you are based in the Yorkshire and Humber region you can potentially access our monthly news round-up and business workshops.  

You can get more information on the Green Port Growth programme from the Green Port Hull website:

Green Port Hull - Business support investment (external website) 

Or contact the business support team: 

CON_TAB
Get in touch
Email:
greenportgrowth@eastriding.gov.uk
Phone
(01482) 391639

What other support is available?

You can find links to a range of support available from the council and other organisations on the  support and resources page.

 

Last Updated: Wednesday, 17 January 2018