We get the right resources to help your business grow
We get exactly what you need
Once the business plan has been produced, Genesis Innovations helps clients to make an informed choice about the scale and types of finance that they require to get their business launched. This is particularly important to investors in the business, including third parties. Also a robust financial model enables management to concentrate on the strategic issues facing the enterprise. We assist our clients for the dual function of planning and controlling the development of the company against predetermined budgets. At Genesis Innovations, we aim to make this process as easy as possible by creating the entire proposal from start to finish.
An investment or expansion project, do you need funding to address a technical challenge or for premises refurbishment?
✅ We can help you get a grant of up to 50% of the project costs.
Developed a new product/service or improved it which had technical challenges to be overcome, which is "new" to your company and could potentially make it more competitive?
✅ We can help you get a grant from HMRC.
Developed a patentable product/process/IT solution?
✅ We can help you half your Corporation Tax.
Got an idea for a new product/process which doesn't yet exist in the market, has the potential of being a world-leader and requires a large investment?
✅ We can help you secure grants from Innovate UK of up to £1m and EU grants of up to €50k to carry out a feasibility study and then, if the feasibility is successful, help you to apply for an R&D grant of up to €3m.
Do you need to persuade funders to back your project?
✅ We provide commercial due-diligence services to enable you to "wow" your audience with your project's potential and secure the appropriate support.
We help you find out what schemes are most suitable for your company and assist you with the next stages of completing the application.
Get money from the government.
Grants will only make up for a share of the funding. We know exactly how to fill in the gap and get 100% of what you need.
R&D Tax Credits
Free refund. As simple as that.
There are a multitude of grants available out there, ranging from regional backed programmes to national and European funded schemes. Grants can be mainly claimed on capital expenditure and premises expenditure. If your planning to invest in equipment, new product development or improve business management processes there are regional grants available of up to 30% - 50% of the total expenditure. Generally, SMEs can get up to 70% funding for projects of up to £1million and lasting up to 36 months of research.
More importantly, if you can show that your project is innovative and sustainable, that it can trigger growth and return on investment and that is has the potential to create jobs and benefit the wider society then there is no reason why you shouldn’t get the right finance.
Remember that assessors want to be convinced and that funders want to fund!
A current EU framework programme, Horizon 2020 enables access to funding for New Product Development. It is the largest ever European funding programme for research and innovation. It has a budget of €70 billion euros and runs until 2020.It offers the perfect kind of support innovative SMEs like yours need.
The financial instrument helps SMEs with projects which include:
- research and development
- ground breaking research or new technologies
- growth in industries such as; manufacturing, biotechnology, ICT, nanotechnology and space
- challenges to climate change or healthcare
- increased private investment in research
Innovate UK is a scheme set up by the government which offers grants to businesses in any industry. The projects have to show compliance with the sectors listed below:
- Emerging and enabling technologies
- Health and life sciences
- Infrastructure systems
- Manufacturing and materials
More generally the grants are open to any types of projects which have a focus on innovation and technology.
The grants available to SMEs start at £25,000 and can go up tp £10m.
Local Enterprise Partnership Funding (LEPs)
LEPs are partnerships between local authorities and businesses to promote economic growth and job creation within the area they operate. They are in total 38 LEPs across England. Your local LEP will provide a grant usually part funded by the European Research Development Fund (ERDF). Funding is targeted at SMEs seeking to grow in the local area. The grants vary depending on the scheme and the nature of the project and are usually around £10k to £200k or more.
At Genesis we will do the following to make sure you secure the grant and get the perfect start to your business:
1. We will determine if you are eligible, if there are grants in your area and if the costs are eligible or not.
2.We will provide a development plan, giving justification as to why you need the support and why you cannot fund it from internal resources, and show the impact your new product, service or process can have on the local and regional economy.
3.We will write the feasibility study and the whole application form after gathering data (such as quotations, the company’s accounts and bank statements) and conduct the calculations to write the financial reports, including the financial projections.
4.We will build the right business plan to show the innovative core behind your product, service or process and demonstrate that it can lead to significant growth and Return on Investment (ROI).
5.We will further respond to any post application queries and try to solve any potential issues.
R&D tax credits
The R&D tax relief scheme is designed to encourage private spending on activities which lead to advances in the fields of science and technology. In return, business which engage in R&D activities can claim Corporation Tax relief, whether or not their projects are successful. The R&D SME tax relief allows companies to obtain up to 230% of deduction of their qualifying costs from their yearly profit. In addition, up to 14.5 % of the costs can be claimed as tax credit if the company is making a loss.
If your company is involved in technological innovation, developing new processes, products or software, then you could be eligible for an R&D tax credit claim.
You can claim various costs on the projects, such as:
- Staff costs
- Subcontractor costs
- Consumable items
Genesis Innovations creates a practical layout for the claims process, working directly with HMRC. We build your claim and accompany you from the moment you come up with the ideas to the moment you solve the uncertainty and create the innovation. More precisely, we build your claim around these 4 key steps:
- The technological advances you have achieved (either through you product/service or your process of production)
- The technological uncertainties which needed to be addressed
- How and when these uncertainties were actually overcome
- Why the knowledge being sought was not readily deducible by a “competent professional”.
Why not contact our team today to find out if you qualify for an R&D Tax Credit Claim?
At Genesis we understand that the grant by itself cannot provide all the finance necessary to your projects. However, we know exactly how to make the match and fill in the gap so you reach 100% of what you needed in the first place. We have excellent relationships with commercial banks, venture capitalists and business angels which detain the key to unlock your true potential. Moreover, there are various government programmes which provide loans and equity finance to SMEs, and it is our job to help you obtain them.
The Enterprise Investment Scheme (EIS) facilitates access to finance for SMEs which bare intrinsic risk and wish to grow or develop their business. The Enterprise Investment Scheme helps businesses like yours raise finance by offering tax reliefs to investors who would buy shares in your company.
EIS can help you raise up to £5m a year and up to £12m during your company's lifetime.
Your company is eligible for the scheme if it is established in the UK and isn't trading on a recognised stock exchange.
Similar to the EIS, The Seed Enterprise Investment Scheme helps small start-up companies get funding. This is done by offering tax reliefs to investors who buy shares in your company. You can raise up to £150,000k under that scheme. In order to qualify, your company must:
- Be based within the UK
- Have 25 employees or less
- Less than 2 years of trading
- Not have had any EIS or VCT funding
- Have gross assets up to £200k
For more information on EIS or SEIS, contact Genesis Innovations. We will be able to provide more information and offer advice on whether it is the right type of scheme for your company.
The Enterprise Finance Guarantee
The Enterprise Finance Guarantee (EFG) is a scheme designed to facilitate lending to sustainable businesses that have been turned down for a loan or other form of debt finance.
EFG is open to businesses that:
- operate in the UK
- have a turnover of no more than £41m
- are seeking finance of between £1,000 and £1.2m
There are various types of facilities available under that scheme, such as new terms loans, revoloving facilities, invoice finance facilities or asset finance facilities.
The Midlands Engine Investment Fund
The Midlands Engine Investment Fund provides is a scheme delivered by British Business Bank which provides funding to SMEs and entrepreneurs based in the Midlands. It is open to start-ups and fast growing small businesses which have been unable to source funding from banks or investors.
This fund provides both equity funding and business loans to SMEs.
The first stage equity funding designed to develop new products can go up to £750,000, while the later stage equity funding can go up to £2 m. For business loans, the range of finance goes from £25,000 to £1.5m.
What we do:
✓ Identify the right finance for your needs
✓ Help you apply for finance
✓ Provide guidance and support along the way