Invest Telford - Partner Update July 2023

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Invest Telford launches ‘Thrive Telford’ with the Business Advice Service

Telford is home to a thriving business community of makers and movers, shakers and creators. Our programme of business support is designed to unlock potential and be a catalyst for growth. 

Delivered with the UK Shared Prosperity Fund this 2 year programme will help people secure local jobs and support businesses to start, grow and innovate.

The 'Thrive Telford' programme has been launched with the Business Advice Service.

Available to SME businesses - from start-ups that have been trading for six months through to those with growth aspirations. This support provides access to a wealth of experience and specialisms across a wide range of business sectors from our extended team of consultants.

Telford based businesses can apply for this fully funded service online. 

Grant funding – Coming soon

The Thrive Telford package of grant funding has been set up to encourage business growth and provide financial backing for eligible capital investment, business development and export readiness support.

Aimed at businesses with growth aspirations these funds will enable expansion into new markets, adoption of new technologies or processes, improvements in productivity, the launch of a new product or service as well as creating and protecting jobs.

There are 4 grants available:-

Small Grants Fund: from £1,000 to £3,000 will support up to 60% of the total eligible project cost

Large Grants Fund: from £5,000 to £20,000 will fund up to 70% of the total eligible project cost

Export Grants Fund: a maximum grant award of £3,000 for 100% of the total eligible costs

Business Development Fund: grants available between £5,000 and £9,000 up to 70% of the total project cost

Business Start Up Service – Coming soon

Aimed at aspiring entrepreneurs, a high quality package of tailored support will be provided to individuals in the borough of Telford and Wrekin.

It will equip individuals with the necessary confidence, awareness, knowledge and skills to plan for and then launch a business.

Open to all it will include a mix of one to one mentoring and dedicated workshops.

For more information visit:

King's Awards for Enterprise - do you know any businesses that could apply?

Business Finance Update 

Made Smarter strives to unite established and emerging UK technology innovators with the manufacturing community to deliver cutting-edge solutions to the industry's biggest operational challenges. Businesses receive tailored support at any stage of their digital journey. 

There is a range of support available including:  

• Impartial business growth advice  
• Specialist technology advice 
• Guidance for skills and culture development 
• Digital transformation and road mapping workshops  
• Funding opportunities
• Leadership development

Help to Grow Management Course will help boost the performance and resilience of a business.

Designed and delivered by entrepreneurs and industry experts at world-class business schools, this leadership course will provide time away from the challenges of running a business to invest in leadership, and to learn how to take a business to the next level.

It runs over 12 weeks and includes online and face-to-face sessions, 1 to 1 mentoring and peer networking.

With just one session a week, it is designed to fit around existing work and personal commitments so a business will finish the course ready to lead on the delivery of increased profitability, innovation and growth.

Innovate UK Edge is partnering with Research and Technology Organisations (RTOs) across the UK to award 100% funded grants of up to £15,000 to ambitious high growth SMEs.

Under this scheme, innovative SMEs can receive a grant for up to £15,000* towards the costs of services and support delivered by RTOs and the Catapult Network including, for example:

• Exploration and testing of new product ideas.
• The provision of technical expertise and sector knowledge.
• Advice on regulatory and government processes.
• Identification of opportunities for R&D, collaboration, and partnership building.
• Sector specific expert advice e.g., support with market analysis, cost modelling, business‐case support, creation of industry‐relevant R&D project plans.
• Specialist advice and support to commercialise innovation, including improving efficiency, making business operations more sustainable, or investigating market gaps.

Awareness raising event for businesses on skills support 

Invest Telford are running a live event mid-September to outline and showcase the support available to employers in Telford in relation to skills and employing the right people.

We’ll re-launch the Invest Telford ‘Skills for Growth’ offer as well as provide an update on the latest support and local initiatives that businesses can engage with and benefit from.

Details and a date will be issued over the coming weeks but if you would like to be involved in either a skills specific capacity or as part of the showcase aspect which also covers general business support then please email Erica.sherry@telford.gov.uk.

Share your news 

If you have anything relevant that you want to share with other partners then please let us know. We also issue two other newsletters to a list of almost 3000 businesses:-

• The Business Update – focuses on the projects and programmes available to support a business
• The Events Update – this includes all of our events as well as others online or within Shropshire

Please email erica.sherry@telford.gov.uk