invisigif

Financial Advice

Are you in need of financial help for your business?

Trafford Council is committed to helping businesses in Trafford to grow and prosper. We work closely with business support agencies across Trafford and beyond to give you easy access to any advice and support you may require.

Providing access to advice to a range of funding opportunities, and support in accessing specific grant funds and relevant support organisations, Trafford is committed to working with businesses, developers, key stakeholders, and local residents to deliver economic growth.

 

Financial Advice & Help

Back to top

Business Finance & Support Finder

You can use this website to search for finance (loans, grants or investors) and/or business support (mentoring, consultancy, and initiatives).

Business Finance Help

Better Business Finance brings into one place a wide range of finance providers across Britain - including business angels, regional funds, government schemes and banks – enabling businesses to more easily seek the finance they require. Its free and easy-to-use search engine allows businesses to refine searches according to geographic location, industry, finance required, and life stage of the business.

Greater Manchester Export Fund

The Greater Manchester Export Fund provides loans of between £3,000 and £150,000. Interest rates typically will be between 8-15%, and the term of the loan can be up to 5 years. Fees of 2% arrangement fee and 1% per annum monitoring fee apply. Loans are secured by personal guarantee.

Applicants have access to a team of International Trade Advisors through DIT if appropriate to develop their export strategy. Support is targeted at SMEs who, due to their lack of export history, small scale or perceived high-level of risk, cannot access export finance from other sources.

Loans provided by GC Business Finance can be used for working capital or as cash support to enable clients’ bank to issue tender bonds, advanced payment guarantees or performance bonds.

Contact: T: 0161 245 4977 E: businessfinance@growthco.uk

Access to Finance North West

Access to Finance North West offers impartial and independent advice and introduces businesses to potential new sources of finance, from grants to venture capital and Business Angels. Help is available with all financial aspects of business planning, such as completing financial forecasts, budgeting and developing a financial strategy that can support future growth.

Northern Powerhouse Investment Fund

The Northern Powerhouse Investment Fund will provide over £400 million of lending and investment directly to smaller businesses to boost economic growth and productivity in the Northern Powerhouse. It is part funded by the European Regional Development Fund.

Business Debtline

The Business Debtline is a national charity that provides free, independent and confidential money advice and helpful tips on money management. You can visit their website or use the Freephone helpline number.

Contact: T: 0800 197 6026

LEADER - Rural Funding

Funding is available to local businesses, communities, farmers, foresters and land managers for projects that create jobs, help your business to grow, and benefit the rural economy 

Business Rates & Taxes

Back to top

Business Rates

The business rates policy is set by central government and business rates are collected by the local authority, sent to a central account held by the Department for Communities and Local Government and then redistributed back to local authorities as part of the local government finance settlement. The Valuation Office Agency (VOA), part of HM Revenue and Customs, assesses rateable values which are used for working out business rates bills.

Business Rates Relief

Information concerning business rates and business rates relief is available via the GOV.UK website or via Trafford Council’s Business Rates Team. There is also information via the Council’s website and the NW Valuation Office Agency website.

Contact - T: 0161 912 2348 E: business.rates@trafford.gov.uk

Taxes

The HM Revenue & Customs website has information especially for people starting up their own business. There is also a helpline run by HMRC offering advice on tax and National Insurance issues to newly self-employed people. Lines are open from 8am - 8pm Monday to Friday and 8am - 4pm Saturday and Sunday. Contact - T: 08459 154 515

Funding Opportunities 

Back to top

Business Start-ups

Business Growth 

Capital 

Specific Business Sectors 

Efficiency/Environmental

Innovation

HM Revenue & Customs' R&D Tax Credit Scheme 

HM Revenue & Customs' R&D Tax Credit scheme is a government initiative to encourage investment in innovation. The SME scheme provides Corporation Tax relief of 225% on eligible expenditure. Tax Credits are also available to larger companies, at a slightly lower rate of relief. The scheme is open to businesses in all sectors, and the average SME claim is over £40,000. However, thousands of eligible businesses are not yet claiming the relief they are entitled to.

Are you eligible?

Here are some simple questions to assess whether your business might be eligible:

  • Have you made any significant developments to your products or services in the past 3 years, which involved overcoming a technological or scientific uncertainty?
  • Have you made improvements to your administration or back office systems in the past 3 years (e.g. creating new software)?
  • Are any of these developments or improvements unique to your business or give you competitive advantage?

If you have answered yes to any of these questions is, you could be eligible for R&D Tax Credits.

Examples of eligible projects might include:

  • Development of a new CRM or other software system bespoke to your business.
  • Development of a new manufacturing process, to overcome a specific challenge you were previously facing.
  • Production of a new piece of equipment which helps you to improve your business processes.
  • Using technology in a way that nobody else has done before.
  • Development of a completely new product, which your company will sell to market.

Support available

Further information about HMRC’s R&D Tax Credit scheme is available online on the GOV.UK website

Latest from @traffordbiz