EU Grants - Like Buses

1. E U G R A N T S – L I K E B U S E S ?

2. BIG PRODUCTIVITY
( A N D A N Q U I C K U P D A T E O N O T H E R F U N D I N G )
Introduction
RICHARD WADMAN
CORPORATE FINANCE DIRECTOR
E: RICHARD.WADMAN@PKF-FRANCISCLARK.CO.UK
T: 01872 246595

3. HOUSEKEEPING
@pkfFrancisClark

4.  Grants and other funding – overview and RDPE update – Andrew James, PKF Francis Clark
 BIG Productivity – Anna Staevska, Cornwall Development Company
 BIG 2 and KCS Print – Zoe Deadman, KCS Print
 Tips to making a grant application – Andrew James, PKF Francis Clark
 Other news/ Future events
 Q&A
AGENDA

5. P K F F R A N C I S C L A R K
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6. 01392 667000
Exeter
01722 337661
Salisbury
01823 275925
Taunton
01803 320100
Torquay
01872 276477
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01752 301010
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01202 663600
Poole
Bristol
0117 403 9800

7. • Designed for family
businesses
• A structured approach for
identifying opportunities
and increasing wealth for
the family
• Our advisers will work
with you depending on
your requirements, pace
and priorities
Step inside …….. Family Business Connect

8. GRANTS AND OTHER
FUNDING UPDATE
Including RDPE Growth Programme
ANDREW JAMES
ASSISTANT MANAGER
E: ANDREW.JAMES@PKF-FRANCISCLARK.CO.UK
T: 01872 24658

9. FUNDING OPTIONS: TYPES
Equity Debt Grants
Crowdfunding/ P2P

10. FUNDING OPTIONS: CHOICE
Funding
desired

11. OTHER SOURCES OF FUNDING -UPDATE
 Grants
 RPDE Growth Programme Round 3 open for EOI until 16 February 2020
 Various “competitions” for grant funding for R&D open through Innovate UK (more
about these at our next breakfast event)
 Training for businesses to submit customs declarations (need to register by 17
January 2020 – for more details contact us at customsadvice@pkf-
francisclark.co.uk
 Other (see factsheet)
 Debt and/ or Equity
 See factsheet, including Cornwall & Isles of Scilly Investment (“CIOSIF”) and
SWIG Finance

12. RDPE GROWTH PROGRAMME
 A grant administrated by RPA
 Capital expenditure
 3 strands of the grant:
 Rural Tourism Infrastructure
 Food Processing
 Business Development
 Intervention rate varies
 Min project size: £50K
 Max grant: c£170K / £750K (Food)
 Handbooks
 National and Local Priorities
 Cornwall and Isles of Scilly LEP area
 Eligibility…
 “Rural + Growth + Jobs”
 Deadline for EOI: 16 Feb 2020

13. RURAL PAYMENTS AGENCY BRIEFING
 Answer the questions
 National priorities – create jobs (don’t over promise) and grow your business
 Local strategic priorities – include them in your answers!
 Cornwall has £4m ring fenced
 Planning permission must be in place at time of full application
 Match funding – statement required at EOI stage / proof at full application
 Need for grant funding is key
 Procurement still the biggest hurdle in approving full applications
 Timescales are tight…

14. Business Investment for
Growth Productivity
Anna Staevska
Programme Manager
anna.staevska@cornwalldevelopmentcompany.co.uk
Twitter: @big_cornwall
Facebook: @BusinessInvestmentforGrowthProductivity
LinkedIn: BIG (Business Investment for Growth) Productivity

15. Background information
 Priority Axis 3: Enhancing the Competitiveness of
Small and Medium Sized Enterprises
 Strategic gaps – raising productivity, supporting
SMEs which are neither “start ups” or “high
growth”; supporting businesses in Cornwall and the
Isles of Scilly to extend their UK trade
 Core selection criteria: value for money and
deliverability

16. About the fund
 Support a total of 175 businesses;
 Create at least 175 new jobs (40 of which level 4 or
above);
 Offer a tailored investment package to meet the
needs of new and established Cornish SMEs;
 Provide a non-financial advisory support to
businesses with a turnover of more £250,000 to
access new markets, improve their processes and
thus significantly improve their productivity.

17. Eligibility
 Is the business based in Cornwall?
 Is the business an SME?
 Is the business an UID?
 Does the Business operate in an ERDF sector?
 Does the business intend to create a job?
 Is the business trading or intend to trade more than
50% outside of Cornwall?
 Is the project expenditure eligible and not classed as
“business as usual”?
 Lender of last resort

18. Eligibility
 Fishery and aquaculture sectors
 Primary production, processing and marketing of
agricultural products
 Coal, steel and shipbuilding sectors
 The synthetic fibres sector
 Generalised (school age) education
 Banking and insurance companies
 Retail businesses (generally deemed to provide ‘local’
services and supporting them risks displacing other
small retailers)

19. Types of grants
 Micro grants up to 10K (simplified 1 year cashflow
forecast, direct award)
 Small grants - between £10K and £25k (2 year cashflow
including a more detailed expenditure breakdown, direct
award)
 Medium grants - between £25K and £50k (2 year
cashflow including a more detailed expenditure
breakdown, virtual panel)
 Large grants - between £50k and £150k – (2 year
detailed cashflow produced by the FD or an accountant,
panel)
 45% intervention rate for small businesses, 35% for
medium-sized

20. Process
 Website based solution with a dedicated client
area
 EOI – Eligibility check, SME and financial status
check
 Full Application – project description,
procurement, financial, policies
 Appraisal/Approval
 Claim
 Outputs

21. Comparison with previous programme
BIG2 BIG Productivity
Grants only Grants and advisory service
Grants level £2,500-£75,000
(£150,000)
Grants level £2,500-£150,000
Focus on growth and job
creation
Focus on productivity
Fixed requirement for job
creation based on grant value
Flexible approach based on ROI
and business needs
Paper based process Digital process
£3.6 M grant pot £3.1 M grant pot

22. Thank you

23. KCS PRINT – A CASE STUDY OF BIG2

24. BIG PRODUCTIVITY
Tips in connection with grant applications
ANDREW JAMES
ASSISTANT MANAGER
E: ANDREW.JAMES@PKF-FRANCISCLARK.CO.UK
T: 01872 24658

25. GRANT APPLICATIONS – BEFORE APPLYING
1. Understand your project
Why?
Deliverables
Resources
Time
Cost
Timescales

26. GRANT APPLICATIONS – BEFORE APPLYING
2. Grant Finance
Eligibility
 project - round pegs / square holes
 business – size / location / service
Their timescales
Their requirements – can you meet them?

27. GRANT APPLICATIONS – BEFORE APPLYING
3. Match finance
Balance of intervention rate
Non-eligible costs
From where?
Existing funds
Bank
Other lenders
Cash flow of grant claims (usually in
arrears)
Projections
CAPEX / Working capital
Overspend

28. GRANT APPLICATIONS – DURING APPLICATION
4. The application
It’s a scoring system!
Set time aside
Answer the questions! (to the point)
Use the guidance
Do the numbers = the words
x jobs = x cost
growth
Provide information requested
Procurement – the biggest hurdle
Show value for money

29. GRANT APPLICATIONS – POST APPLICATION
5. Post application
Do not start until GFA is signed!
DO NOT START UNTIL GFA IS SIGNED!!
…now start the project
Track costs for claiming (cloud accounting)
Claim in time / as per application
Speak to administrator if problems with outputs
Manage cash flow
Use the projections / update them

30. BE PREPARED – ASSISTANCE AVAILABLE

31. BE PREPARED – GRANT ASSISTANCE?

32. BIG PRODUCTIVITY
Wrap and mention of future events…
RICHARD WADMAN
CORPORATE FINANCE DIRECTOR
E: RICHARD.WADMAN@PKF-FRANCISCLARK.CO.UK
T: 01872 246595

33. NEXT…
Q&A
Future breakfasts
• Family Business Connect
• Other
• Export, Block chain etc.
• Spaceport Cornwall – 4 February 2020
• Green Cornwall – 5 March 2020 (with Fourth Element)
Future breakfasts – Sector specific / one off
• Food and Drink – September/ October 2020
Other events
• Finance in Cornwall – 12 May 2020
• Festival of Finance – May 2020 (TBC)
And do not forget our blog, which contains details of new funds/
sources of SME funding that come to our attention, and our
Finance in Cornwall factsheet
And we are sponsoring a number of event associated with Health
and Wellbeing, including…

34. Francis Clark LLP is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the
actions or inactions on the part of any other individual member firm or firms.
01392 667000
Exeter
01722 337661
Salisbury
01823 275925
Taunton
01803 320100
Torquay
01872 276477
Truro
01752 301010
Plymouth
01202 663600
Poole
Bristol
0117 403 9800

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