New Anglia Growth Hub

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Led by the New Anglia Local Enterprise Partnership, and delivered in partnership with the Suffolk Chamber of Commerce

 

The New Anglia Growth Hub was set up in 2014 to provide free one-to-one support to businesses across Norfolk and Suffolk. Since then, the team have supported over 9,000 local businesses, with over 45,000 hours of advice.

Led by the New Anglia Local Enterprise Partnership, and delivered in partnership with the Suffolk Chamber of Commerce, the New Anglia Growth Hub can assist your business with a range of support including grants and funding, international trade, skills guidance, access to free training, specialist high growth support and much more.

Throughout the year the Growth Hub hosts high quality events for businesses in Norfolk and Suffolk run by expert coaches in Finance, Sales, Marketing, HR and other popular topics.

Working alongside local authorities and partner organisations, the team have continued to help businesses access financial support throughout the pandemic including local grant funding and New Anglia grant schemes. The team of knowledgeable advisers not only help to identify these opportunities, but they also work with businesses to help prepare their applications.

Grants may be offered to eligible businesses between £1,000 and £500,000.

Business Growth Adviser, Jo Ferriss, talks through some of the key grant schemes they can help your business access.

“There are many funding opportunities available so it may be difficult for you to identify the right one for your business.”

“Our team of experienced advisers can highlight suitable grants for you and support you with your funding application.”

If you have plans to invest in a research and development (R&D) or innovation project, you could benefit from a grant of between £2,500 and £25,000 from New Anglia LEP’s Growth Through Innovation Fund.

The grant can pay up to 45% of the total eligible costs of your projects.

• Do you want help towards the costs of designing, building, and testing prototypes of new or better products?
• Do you need to invest in external specialist knowledge to improve your business’ products services or processes?
• Do you need to invest in R&D testing equipment?
• Do you need to adopt novel or innovative digital technologies to become more efficient and productive?
• Do you need to patent your ideas or inventions?

The Growth Through Innovation Fund has awarded £2.3m to 154 projects, generating nearly £3.1m private match funding.
(Figures: March 2023)

“The Business Resilience and Recovery (R&R) Grant scheme offers grants between £25,000 and £50,000 and the grant award is up to 40% of the total project costs for capital expenditure only. The grant cannot be used for cashflow assistance, stock purchase, paying wages etc. The scheme would be able to support products to tackle the Coronavirus outbreak, related R&D, short term manufacturing diversification, Identification and mobilisation into new markets.”

“The Growing Business Fund (GBF) offers grants between £25,000 and £500,000. The grant award is up to 20% of the total cost of a project and for every £20k of grant, one full time job position must be created or an increase in productivity must be demonstrated.”

“It is vital for the recovery of our economy that we give a helping hand to as many businesses as possible and particularly SMEs who are the lifeblood of our growing and vibrant economy, so I urge businesses of any size and sector to get in touch with the Growth Hub team to see how we can help.”

Peer Networks

Peer Networks is a national peer-to-peer networking programme for SME leaders that want to grow and develop their organisation for future success.

SUNA – (Scale up New Anglia)

If you operate a growing enterprise in Norfolk and Suffolk and you’re keen to deliver accelerated growth, we can help.

For free business support, call 0300 333 6536 or email info@newangliagrowthhub.co.uk.