In the Know: Feb 2018

Innovation fund to support start ups and small firms

A new fund for business support organisations to help start ups and smaller firms grow their business through innovation has been launched as part of Horizon 2020. The fund will provide grants of up to €60,000 for regional and national agencies to test a new support scheme, or improve an existing one, to help smaller firms to innovate. Grants of up to €500,000 are also available to test new innovation support schemes on a larger scale. The deadline for applications is 27 March 2018.

For further information, click here.

New tool to help smaller businesses prepare for GDPR

The European Commission has published new guidance to help EU member states prepare for the General Data Protection Regulation (GDPR). The guidance outlines what national governments and data protection organisations such as the Information Commissioner’s Office must do to ensure a smooth transition to the GDPR. The European Commission has also launched a new online tool to help smaller businesses understand the GDPR. The tool provides advice and guidance about the information that the GDPR applies to and the steps businesses and other organisations can take to comply with the new rules.

For further information, click here

Young Innovators support programme launched

Innovate UK and the Prince’s Trust have launched a new programme to support young people with innovative business ideas. The Young Innovators programme will provide coaching and mentoring to help people aged 18 to 30 to develop innovative business ideas that could better their local community, use technology to solve an everyday problem or tackle an environmental issue. Participants will also receive an allowance to cover time spent working on their idea, as well as funding for business activities such as travelling to meet customers. The Prince’s Trust is running a series of regional events in February and March that will provide more information about the programme. The first deadline for applications is 1 March 2018.

For further information, click here

South West business expo

The South West Business Expo is probably the largest Business Expo in the South West.

Now moving into its 6th year, the expo organised by thebestof Exeter, is the destination for businesses to grow and prosper. It’s free to attend and offers delegates the chance to network with a large variety of business owners, plus offers the chance for you to gain free business advice and support from organisations and speakers.

The aim of the expo is to bring businesses to together from across the South West to enable them to do business with each other and to help the region grow and prosper.

The South West Business Expo will take place at the Westpoint Arena on 15th March 2018 and looks set to be even bigger than 2017’s event which saw more than 2000 business people attend and visit the 158 exhibitors. Stands are already being taken up for the 2018, so be quick to secure the best locations, It is expected that there will be over 260 exhibitors and nearly 3000 people attending on the day.

We’ll be there! To find out more info and to book your stand click here


Setting up as a Sole Trader? Here’s what you need to know:

If you’re a sole trader, you run your own business as an individual and are self-employed.

You can keep all your business’s profits after you’ve paid tax on them. You’re personally responsible for any losses your business makes. You must also follow certain rules on running and naming your business.

Check what counts as self-employed if you’re not sure about your status.

To set up as a sole trader, you need to register for Self Assessment and file a tax return every year.

Read more here

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