Business grants and funding

Whether you are looking to raise finance for a new business idea or to find investment for your existing businesses there are many options which you should consider before deciding which one is right for you.

Start-up loans

A government programme is available for businesses who have, or plan to start a UK-based business: 

Enhance Social Enterprise Fund

Enhance is funded by the European Regional Development Fund (ERDF) in order to increase the number of social enterprise start-ups and to support the growth of existing ones.

The Enhance Social Enterprise (Enhance SE) programme supports social enterprises and social entrepreneurs in Plymouth, Torbay, Devon, and Somerset.

Through Enhance SE, social enterprises and social entrepreneurs are supported to develop and launch new products and services, as well as entering new markets.

Workshops and mentoring support are available for social enterprises looking to explore all aspects of their business including digital, leadership development, and managing growth.

Social enterprises and social entrepreneurs can receive up to 12 hours of FREE tailored business support from a range of partners, as well as access to a range of workshops and networking opportunities until December 2019.

You can find more information on the Enhance Social Enterprise website.

LEADER Funding

The recent funding projects below have put emphasis on rural businesses which can demonstrate they will strengthen the local economy, create employment and support business growth.

Eligible projects must support one or more of the 6 LEADER priorities:

Local action groups that cover your area:

Levels and Moors

Area’s covered: Burrowbridge, Creech St Michael, Durston, Hatch Beauchamp, North Curry, Ruishton, Stoke St Gregory, Thornfalcon. You can find more information on the LEADER Levels and Moors website.

Western Somerset 

Areas covered: Ash Brittle, Bathealton, Bishops Lydeard, Bradford on Tone, Cheddon Fitzpaine, Chipstable, Combe Florey, Cothelstone, Stawley, Halse, Kingston St Mary, Langford Budville, Lydeard St Lawrence, Milverton, Norton Fitzwarren, Nynehead, Oake, Staplegrove, Tolland, Wiveliscombe, West Bagborough, West Monkton. You can find more information on the LEADER Western Somerset website.

Blackdown Hills AONB and Making it Local funding

Areas covered: Bickenhall, Churchstanton, Corfe, Curland, Orchard Portman, Otterford, Pitminster, Samford Arundel, Staple Fitzpaine, Stoke St Mary, Wellington, West Hatch, West Buckland. You can find more information the the Making it Local website. 

RDPE Growth Programme

Grant funding for projects in England which create jobs and growth in the rural economy. The RDPE Growth Programme provides funding for projects in England which create jobs and growth in the rural economy.

Under the RDPE Growth Programme, there are grants for:
• business development
• food processing
• rural tourism infrastructure
The grants are funded by the European Agricultural Fund for Rural Development (EAFRD), which is part of the European Structural and Investment Funds (ESIF).

To find out more and to download your handbook visit RDPE Growth Programme.

Finance and support for broadband

Subsidised broadband installation for businesses that can't access an affordable broadband service with a speed of at least 2MB per second. Up to £350 available - check out the basic broadband checker on the GOV.uk website. 

Innovate UK - Innovation funding and advice

Guidance for business and academic organisations on what funding they can get to test ideas and develop innovative products and services. Innovate UK Website

If you would prefer an informal, confidential discussion about available funding options, please don't hesitate to contact us: 

Email: ecdev@tauntondeane.gov.uk 

Phone: 01823 356489

Looking to invest in Taunton?

Looking to relocate your business to Taunton don’t hesitate to contact us or visit our inward investment website.

Invest in Taunton