Funding in Kent. A number of financial initiatives to support business ambitions. October 2017
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1 Funding in Kent A number of financial initiatives to support business ambitions October 2017
2 Locate in Kent funding support. Taking the decision to set-up, expand or invest in another country requires funding. Kent offers a compelling range of financial assistance to support ambitious businesses with the aim of creating jobs in the county. To find out if your company may be eligible for any of these schemes please get in touch. Our service is confidential, impartial and completely free of charge. Funding in Kent 2
3 UK WIDE National incentives.
4 UK WIDE SERVICE OFFERINGS Start Up Loans A government-backed personal loan available to individuals looking to start or grow a business in the UK. With a fixed interest rate of just 6% per annum and the ability to borrow between 500 and 25,000, Start Up Loans offer an affordable source of finance to help new and early stage business owners bring their plans to life. SMEs only Funding in Kent 4
5 UK WIDE SERVICE OFFERINGS Innovate UK Innovate UK offers funding of between 25,000 and 10 million for the development of an innovative product, process or service by a UK-based company. Awards are made on a competition basis. Any business size Funding in Kent 5
6 UK WIDE SERVICE OFFERINGS Patent Box Corporation Tax of just 10% on profits from patented inventions, benefiting innovative organisations in the UK. Any business size Funding in Kent 6
7 UK WIDE SERVICE OFFERINGS Research and Development Tax Relief Corporation Tax relief on research and development activities, that rewards UK companies for investing in innovation. Any business size Funding in Kent 7
8 UK WIDE SERVICE OFFERINGS Rural Development Programme for England (RDPE) RDPE Growth Programme provides funding for projects in England which create jobs and growth in the rural economy. These grants are available for: Business development Food processing Rural tourism infrastructure The value of the grants range from a minimum of 35,000 to 170,000* and an expression of interest is required by 31 January Eligibility criteria applies. (*Food processing grants can be up to 1,000,000.) SMEs only Funding in Kent 8
9 REGIONAL EXCLUSIVES Financial incentives for Kent. There are a range of funding streams and financial incentives* available to companies investing in Kent. Our team can help you find the best match. * All financial incentive schemes are subject to change, contact us to find out about the latest funding opportunities.
10 REGIONAL EXCLUSIVES Kent and Medway Business Fund 0% loans between 50,000 and 500,000 are available to small and medium sized businesses across the county. SMEs only Funding in Kent 10
11 REGIONAL EXCLUSIVES South East Business Boost (SEBB) Growth grants of between 1,000 and 10,000 available to eligible trading businesses. The grant can fund up to 30% of a range of capital items related to increasing sales, improving productivity and boosting profitability. SMEs only Funding in Kent 11
12 REGIONAL EXCLUSIVES Kent LEADER programme Funding for farmers, growers, foresters, businesses and communities in rural Kent. Grants of between 2,500 and 100,000. Grants will typically be limited to a maximum of 40% of the project s total eligible costs. SMEs only Funding in Kent 12
13 REGIONAL EXCLUSIVES Low Carbon Across the South East (LoCASE) Grants up to 10,000 for organisations looking to improve business performance as well as contributing to the protection and preservation of the environment. This grant funding will form 40% of the cost of an eligible project. SMEs only Funding in Kent 13
14 REGIONAL EXCLUSIVES Partners for Growth Grants and specialist advice specifically for businesses in Medway. The start-up scheme offers one to one business advice and for eligible businesses, a start-up grant of up to 1,000. The interest free loan scheme of up to 10,000 is available to growing businesses based within or locating to Medway. Businesses must also have less than 50 employees and at least two years of successful trading to qualify. SMEs only Funding in Kent 14
15 REGIONAL EXCLUSIVES Enterprise Zone Rate Relief Business rate relief of up to 275,000 over five years for businesses operating from one of the two enterprise zones in Kent. Any business size Funding in Kent 15
16 SECTOR SPECIFIC Financial incentives for Kent.
17 SECTOR SPECIFIC Manufacturing Growth Programme Grants up to 35% of the cost to deliver your manufacturing growth plan. SMEs only Funding in Kent 17
18 SECTOR SPECIFIC Boost 4 Health Micro-financing to help life science SMEs looking to trade internationally. SMEs only Funding in Kent 18
19 Why Kent?
20 WHY KENT? Kent makes business sense The business case for setting up or expanding in Kent has never been stronger. Positioned between London and Europe and experiencing impressive growth and regeneration, Kent offers unrivalled benefits that not only make good business sense but create the ideal place for your workforce and family to thrive in. Even better connected As the only UK county with the High Speed 1 rail network, Kent offers quick and convenient access to markets like no other. Businesses can access London in just 17 minutes and Paris and Brussels in under two hours. With the Port of Dover and five other seaports located within the county, import/export operations are well supported and International airports such as London Heathrow and Gatwick are easily accessible within an hour. Digital connectivity is also an asset in Kent, with 92% of homes and businesses having access to superfast broadband. Top quality, low costs In Kent, commercial property costs are up to 60% cheaper than London and 15% lower than the rest of the South East. Great value for money can also be seen across residential property with average house prices 33% cheaper than London. Kent also boasts two Enterprise Zones (Discovery Park and North Kent) offering business rate savings of up to 275,000 over five years and there are a number of funding support schemes available to support growing businesses. Discovery Park is the most successful Enterprise Zone in the UK. Funding in Kent 20
21 WHY KENT? The pick of the crop With a resident population of just over 1.8m, Kent and Medway is the largest of all of the English counties and provides access to a highly-skilled workforce. There are four top universities, including the University of Kent, ranked in the top 25 in the UK which provide a steady pipeline of graduates across key growth sectors each year. A further 25 universities are in an easily commutable 20 mile radius. The median salary in Kent is 4k lower than those in London, making the county extremely good value for money when it comes to finding the right staff for your business. For business, for work, for life Kent has just over 350 miles of coastline and with a third of the county designated as an area of outstanding natural beauty, it is perfect for people who value quality family time. The county has a rich heritage and its diversity offers an unrivalled lifestyle experience for everyone. With stunning sandy beaches, premium shopping experiences, a number of historic attractions, galleries, theatres, motor racing circuits and over 60 golf courses, it is the optimum destination to benefit from the perfect work/life balance. Kent is a great place for your family to thrive too, with 23% of the UK s grammar schools located here, your children and those of your workforce will have the best start in life. Funding in Kent 21
22 LOCATION WITHIN UK M1 M1 M11 M11 Luton Luton M25 M25 M25 M25 Stansted Stansted Shenfield Shenfield Kent, the connected county M1 M11 M40 M40 Heathrow Heathrow M3 M3 M25 M25 Map key Map key Motorway Main Motorway Road M1 Paddington Paddington Gatwick Gatwick Eurostar Route and High High Speed Speed 1 Route Route Domestic Rail Routes Domestic Rail Routes Ferry/Freight Routes Ferry/Freight Routes Crossrail Route Crossrail Route Proposed Crossrail Extension Proposed Crossrail Extension Thameslink service Preferred Maidstone Lower East Thames to Crossing Cambridge route from 2018 St. Pancras Stratford International Station International Station St. Pancras Stratford International Station International Station City City LONDON LONDON M M25 M25 M11 Biggin Hill Biggin Hill Abbey Wood Abbey Wood M25 M25 DARTFORD DARTFORD Ebbsfleet International Ebbsfleet Station International Station M26 M20 M20 SEVENOAKS TUNBRIDGE TUNBRIDGE WELLS North Kent Enterprise Zone WELLS North Discovery Kent Park Enterprise Enterprise Zone Zone Discovery Kent Science Park Park Enterprise Zone Kent Universities/ Science Colleges Park Universities Eurostar Stops /Colleges Eurostar Stops Ports Journey times to St Pancras Ports Journey times to St Pancras Dartford Crossing M26 A2 SEVENOAKS GRAVESEND GRAVESEND KINGS HILL TONBRIDGE A28 A20 KINGS HILL A26 TONBRIDGE MEDWAY MEDWAY MAIDSTONE MAIDSTONE Thamesport Thamesport M2 M2 Southend Southend A SITTINGBOURNE M20 M20 KENT KENT Sheerness ISLE OF SHEPPEY ISLE OF SHEPPEY SITTINGBOURNE A28 FAVERSHAM FAVERSHAM A Ashford International Ashford Station International Station A2 ASHFORD ASHFORD London Ashford London Ashford WHITSTABLE WHITSTABLE CANTERBURY CANTERBURY FOLKESTONE FOLKESTONE HERNE BAY HERNE BAY A MARGATE SANDWICH SANDWICH DEAL DEAL MARGATE DOVER DOVER Calais Calais Channel Tunnel Channel Tunnel RAMSGATE RAMSGATE Dunkirk Dunkirk Calais Calais FRANCE FRANCE Funding in Kent 22
23 LOCATION WITHIN EUROPE OSLO HELSINKI Kent, the gateway to Europe EDINBURGH STOCKHOLM TALLIN RIGA Map key Domestic Rail Routes Eurostar Route NOTTINGHAM BIRMINGHAM SHEFFIELD COPENHAGEN VILNIUS Kent County European Connections CARDIFF LONDON KENT AMSTERDAM BERLIN WARSAW LILLE BRUSSELS PARIS FRANKFURT PRAGUE MÜNICH VIENNA BRATISLAVA BERN ZURICH BUDAPEST LJUBLJANA LISBON MADRID BARCELONA ROME Funding in Kent 23
24 How we can help. Funding in Kent 24
25 OUR PROPOSITION Locate in Kent. Helping every step of the way The existence of Locate in Kent s service and the promise of help now and in the future has had such a big influence, I can say I would not have come to Kent without it. Andrew Cock, Managing Director of Multipanel UK In addition to our funding support, our team, our team offer guidance on all the components needed for business growth in Kent. 1. Contact us 2. Bespoke to you 3. Specialists 4. Connecting you 5. Supporting you 6. Moving onwards If you have a question about setting up or expanding in Kent, register online at locateinkent.com/contact, call us on or us at enquiries@locateinkent.com and we ll provide you with the information you need. Our experienced and knowledgeable team is on hand to discuss your requirements and create a bespoke plan, specific to your business needs. Our in-house experts in property, skills, and key industry sectors have an in depth understanding of how to support your business growth and provide guidance on funding and financial incentives. Our service also expands into our extensive network of Kent partners, we will put you in touch with the right people who can help with legal advice, accountancy services and marketing support. When you re ready to make your move or expansion into Kent, we ll be here every step of the way, helping you to get a head start for business growth. Once you re settled, we offer ongoing support and advice to help your business succeed. Funding in Kent 25
26 Get in touch Chris Broom Head of Investment Having spent twelve years in the Locate in Kent team, Chris is extremely well versed in the financial incentives available to businesses. He has established a strong network of professional intermediaries and industry contacts, has in-depth knowledge of Kent s property market and has supported 100s of businesses to expand or move their business operations into Kent.. Contact Chris today to discuss your business needs ChrisB@locateinkent.com +44 (0)
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