RSM Tenon: Unlocking funding opportunities for start-up and growth businesses
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 Richard Eccles, Director of Audit, RSM Tenon
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EMTREPRENEURS and growth businesses could be forgiven for thinking that opportunities to access funding are few and far between. The good news is this isn’t the case – but knowing where to seek out these opportunities and make the most of them is an issue. We have met with many new and growing firms who have actually got to the funding application process stage only to find they cannot make sense of it or are put off by a mountain of paperwork and deadlines. While it can sometimes appear to be a complicated and long-winded process, businesses should not become disheartened because there is help available and accessing it can bring many long-lasting positive rewards. As part of RSM Tenon’s business advisory services we can provide very practical help to entrepreneurs and growth firms around loans and grants. Whether it’s an extra set of eyes for the application process or a first port of call to find out what kind of financial assistance the organisation can qualify for, we can help. Having the right contacts backed by a deep knowledge of the various types of funding schemes available is our job and we want organisations to tap into this. In fact we have already helped numerous firms qualify for funding they were aware they were entitled to. For example, there is funding available to companies that can demonstrate how they are able to bring jobs into the area or can show they have real potential for long-term growth. A large automotive firm has been notably successful with over £90m worth of grants and from the Advanced Manufacturing Supply Chain Initiative (AMSCI) fund, a number of companies from the West Midlands have been awarded grants to innovate and develop products. Organisations that provide employees with certain types of training and qualifications may also be entitled to apply for loans or grants – as can those which undertake research and development in core areas. A large logistics firm in partnership with NAC has trained nearly 1,000 long-term unemployed for 500 jobs to take up positions at its ‘just in time’ facility at Bromford. In terms of R&D, a large power firm has been awarded £2m to continue development of its miniature gas turbine engines. The West Midlands is home to many dynamic, burgeoning companies and entrepreneurs who have bright futures ahead of them. As a business with a large presence in the region we are committed to helping build successful and healthy companies and one of the ways we can do this is by pointing them in the direction of extra capital which will help stimulate growth. There is more financial help out there than most think – and we are here to help companies find it. More articles in
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