July 23 2020

Government support for SME manufacturing businesses

SME businesses often know they need to invest in IT, but face obstacles like finding a reliable IT consultancy that can deliver on time and in budget. In this article we share a couple of government grants available to help you overcome these barriers.

A July 2020 report published by Sage found that 80% of SMEs think digital adoption will be critical for an enterprise-led recovery and job creation. Despite this, only a small proportion (33%) have the bandwidth to invest in technology across key business processes.
 

Help is at hand

These businesses know they need to invest, and know expert help can enable success, but the cost of working with third party professionals is a major pitfall. Not to mention the difficulties in finding a reliable organisation to partner with.
 

Money doesn't grow on trees, but if you know where to look, there are ample opportunities to aid SMEs in manufacturing. The government is offering 2 schemes that can help. With a quick phone call, and a bit of paperwork, you can secure government funding to secure the support you need, and have that funding approved and ready to go in days, not weeks.

So what are you waiting for?

Scheme 1: The manufacturing recovery plan

The manufacturing recovery plan is not just about recovery but about building resilience inside a manufacturing business. They aim to ensure companies based in the Leeds city region, are better prepared for any future shocks. They provide a dedicated client manager who will work alongside you to develop a personal action plan for your business, coordinate any suitable grants and provide free technical support.

They can provide upto £5k of matched funding, which has to be spent on OPEX such as professional advice, not CAPEX or software licences. A separate grant of upto £3k for CAPEX is also available.

More details can be found here: Manufacturing recovery plan

Scheme 2: The manufacturing growth programme

The manufacturing growth programmes is a similar scheme to the recovery plan and covers a broader set of regions across the UK. Once you get in touch, an advisor will be assigned to talk to them about the project that you want to do, or the challenges you have, and then get you to fill out a growth mapper questionnaire.

They provide grants for projects upto a maximum value of £5k and depending on whether you are in a higher priority region or not, the grants will cover 33% or 43% of the project costs. You can split bigger projects into 2 smaller ones and apply for 2 grants. 

More details can be found here: Manufacturing growth programme

How FluidIT can support

FluidIT have a range of small starter pieces of work we can help you with, designed to be low-risk, low-cost, deliver immediate value, and build trust in a new relationship. These are an ideal size to work with the size of funding available from the two grants above.

Our 'improve performance' workshop is aimed at companies looking to digitise a key process, or build a dashboard to monitor some KPIs. For more details see here: Improve performance workshop

Our 'build an IT strategy' workshop aims to get you started with building an IT strategy and roadmap to support your ambitious business strategy. For more details see here: build an IT strategy

And our 'get to the root of a problem' workshop is aimed at business with a knotty business/process problem that they want to get to the root cause of but have been unable to solve. For more details see here: get to the root of a problem

Photo by Micheile Henderson on Unsplash