IT firm benefits from government funding
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Government Initiatives

Government Initiatives

Through the Department of Business, Innovation and Skills (BIS), formerly known as BERR, the government is committed to providing cash flow solutions to help UK businesses boost their finances when more traditional funding solutions are unavailable.

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What are the benefits of government initiatives?

  • The majority of the funding available is government-backed, mitigating a level of risk to banks to increase the likelihood of your eligibility.
  • Schemes are amended to reflect the economic climate, meaning the funds you apply for will be tailored to help overcome the trading conditions.
  • The majority of initiatives are provided through a variety of funders, giving you a point of contact.
  • Government schemes can be a solution when traditional funding is unavailable.

Which government initiatives are available to my business?

There is a range of government initiatives available to UK businesses, but it is important to recognise that your company will not be eligible for each one and not every bank operates them all.

As the UK’s leading financial brokerage, Hilton-Baird Financial Solutions can save you valuable time and resources by assessing your individual funding requirements quickly and accurately before introducing your business to the solution and lender that fits.

  • Enterprise Finance Guarantee (EFG)
    The EFG provides loans of between £1,000 and £1million, repayable over ten years, to businesses seeking funding to boost their business’ cash flow and working capital reserves.

Additionally, the Trade Credit Insurance scheme provides six months’ top-up credit insurance to companies that have had credit lines reduced since 1 April 2009 to protect them from debtor non-payment.

As beneficial as these government initiatives can be for UK businesses, obtaining them can be difficult. Hilton-Baird can assess your business’ finances and introduce the funding that meets all your cash flow needs, whether it’s government supported or not.

Please call 0800 9774833 or email info@hiltonbaird.co.uk to find out more about the range of government initiatives available to your business.