The Hull and Humber area offers a broad range of business incentives and support, including loans, grants, advice and skills.
Hull benefits from 30 Enterprise Zone sites, designed to stimulate the development of new investment opportunities across a range of local industries. Companies operating from these sites can benefit from simplified planning guidelines and financial incentives in the form of reduced business rates worth up to £255,000 over five years, or Enhanced Capital Allowances for companies on certain sites within the Port of Hull estate.
The Humber Local Enterprise Partnership (LEP) is a business-led partnership which operates a number of programmes of financial support for businesses seeking funding for growth, including Growing the Humber flexible grants programme, which supports different types of business in the Humber area, while the Business Loan Fund can support businesses making capital investments in the area.
The Humber Growth Hub, part of the LEP, can help businesses to access grants, funding, finance, loans and support, offering free one-to-one help from the hub’s business adviser.
The Humber has been allocated £87 million from the European Structural and Investment Funds (ESIF) Programme 2014-2020. To date, a number of programmes have been allocated funds to support business formation and growth across the Humber.
The Northern Powerhouse Investment Fund, a collaboration between the British Business Bank and 10 LEPs including the Humber, provides more than £400 million in commercially focused finance through Microfinance, Debt and Equity Finance funds to boost small and medium business growth in the north
Green Port Hull's grants programme, running until March 2019, supports businesses in the renewable energy, green technology, engineering and low carbon sectors, with investment projects that will increase productivity, skills and employment.
The Chamber Acorn Fund (Humber) offers loans from £1,000 to £25,000 for businesses unable to raise their finance from conventional sources for whatever reason to help the launch or expansion of businesses. Projects must be capable of producing or safeguarding jobs and providing a sustained benefit to the local economy.
Chamber Training (Humber) Ltd, the training arm of the Hull & Humber Chamber of Commerce, offering training solutions including apprenticeships, vocational qualifications, bespoke training and management courses.
The Humber High Street Challenge Fund will offer grants to encourage private sector landlords and property-owners to undertake building and conversion projects that will improve high streets, diversifying the traditional retail offer and bringing unused floor space back into use across the region.
Funding for the scheme was allocated by the Humber LEP from the Humber’s Local Growth Fund allocation, secured from Government as part of their commitment to the Northern Powerhouse. It will include Whitefriargate in Hull.
The Invest Hull team can direct business queries in the right direction. For more details, contact the team by filling out the form below or by calling 01482 300301.