Business finance

Medway Council encourages innovation, supports new and existing businesses that want to grow and helps those planning to move to Medway.

One of the ways it does this is by directing businesses to funding sources and financial advice.

General signposting on financial support

• Grants and government support: (www.businesslink.gov.uk/bdotg/action/layer?topicId=1073858790&site=210&r.s=m)
  Business Link offers an excellent signposting point of reference.
• Get the right finance for your business: (www.businesslink.gov.uk/bdotg/action/layer?topicId=1074441426&r.li=107530)
  Get useful advice on the type of financial support best-suited to your business.
• j4b (www.j4b.co.uk)
  This site provides comprehensive information on government grants for both business and voluntary groups.

Grant for Business Investment (GBI)
Download the electronic version of the GBI grants brochure (pdf 180KB). To use the pdf files on this page you will need Adobe Acrobat Reader. If you do not have it on your computer, please go to our advice page.

You can also visit www.se-gas.co.uk/selective_finance_for_investment.htm to find out more about how Medway businesses can qualify for financial assistance under this initiative, designed for businesses considering investing in an area of high deprivation but in need of financial help. Contact Jim Miller or Brian Short at the South East Grant Advisory Service for free advice.

Council assistance

Partners for Growth
Partners for Growth (PFG) is an interest-free loan scheme operated by the council to help established small and medium-sized companies in Medway to expand. Designed to provide essential gap funding to pursue a growth opportunity, the scheme combines an interest-free loan, which has a six-month repayment holiday, with free expert advice. Typically, the scheme lends £10,000 to £15,000 per approved application. The scheme's objective is to increase the competitiveness of Medway businesses by creating new opportunities for companies to grow. Download the application form (pdf 145KB).

Medway Business Awards (www.mbawards.co.uk)
The awards, now in their 25th year, have become Medway’s premier business accolade. They offer the opportunity for a business to stand out and to gain recognition for the hard work and innovation shown by its managers and employees.

The awards offer a cash prize fund of £5,000. All the finalists receive a certificate of achievement and excellent free publicity from the Medway Messenger. It is a great public relations opportunity and boosts staff morale.

Eligible businesses include those:

• located in the Medway Council area;
• with a turnover of less than £5.6million per annum;
• that have been trading for at least 12 months before the awards.

Innovation grants and assistance

Innovation, research and development grants: (www.businesslink.gov.uk/bdotg/action/layer?r.l1=1073858790&topicId=1074463677&r.l2=1073866776&r.s=tl)
The government is keen to assist small and medium-sized businesses with financial support for innovation, research and development.

Government Guarantee Lending Schemes: (www.businesslink.gov.uk/bdotg/action/layer?topicId=1081834708&r.lc=en&r.s=sl)
This joint scheme between the government and participating lenders assists businesses that may find it difficult to provide assets for security against a conventional loan.

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