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Humber Business Growth Hub: Funding and Support Available for SMEs

The Humber Business Growth Hub, funded by the European Regional Development Fund, has a support scheme available for businesses in the local Humber area.

The Finance for Growth Scheme is aimed at ‘priority growth’ sectors of the Humber economy. It will support small and medium sized businesses (SMEs) within those, as well as aligned sectors, to enhance their growth potential through targeted investment, financial advice and support. 

Running until May 2021, the Finance for Growth scheme will deliver a programme of support for SMEs in the Humber region, which aims to enable businesses to become investment ready and access the opportunities for growth afforded by the right package of finance.

The Finance for Growth scheme will include:

  • One-to-one advice
  • Workshops, masterclasses and events, and
  • Access to grant funding.
Humber Bridge

Find Out if Your Business is Eligible

To be eligible for the scheme, as a minimum, your business must: 

  • Be trading in the Humber area – Hull, East Riding of Yorkshire, North East Lincolnshire, North Lincolnshire 
  • Have less than 250 full-time (or equivalent) employees 3
  • Have a turnover of less than €50m and a balance sheet of less than €43m 

One to One Advice

The scheme can provide specialist financial advice in relation to company growth plans. Their advisors can support you in areas such as: 

  • Addressing the key issues preventing your business from accessing finance, such as ineffectual business planning and a lack of in-depth management information
  • Assisting you to understand what lenders and investors are looking for as an investment opportunity 
  • Helping you to understand the financial landscape and negotiate the financial options, products and support available

Their advisors will also be able to signpost you to other solutions and relevant support programmes as appropriate.

Workshops, Masterclasses & Events

Free extensive workshops and masterclasses to cover key areas of business finance will be held at venues across the Humber area. The range of specialist workshops will include: 

  • Developing Your Business Plan for Investment 
  • Equity Finance 
  • Understanding the Investment Process 
  • Understanding Cash Flow

Access to Grant Funding

Identified through a one-to-one support from their advisors, their small grants scheme can fund up to 40% of your eligible project costs (minimum grant £1k, maximum £10k).

The grant is a contribution toward specialist support services intended to address identified barriers to accessing finance, as part of a specific growth and investment strategy. 

These services could include accountant-prepared business plans and forecasts, legal due diligence, marketing plans and management information. 

Register Your Interest

If you would like to register your interest, and find out if your business is eligible, you can call 01482 615359, or visit www.humbergrowth.co.uk to find out more information.

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