Every business needs the occasional helping hand, and while many turn to the more traditional forms of finance and advice, there are hundreds of alternatives, many of which are either free or subsidised.

Visiting www.businesslink.gov.uk will allow you to search through the website and find more, but here is a small sample of what is available:

EMPLOYMENT

Job Introduction Scheme: This provides a grant to contribute towards the costs of employing a disabled person during the first six weeks of employment. The job can be either full or part time and the maximum amount of the grant is £75 per week. However, the work trial must last for at least six months after the grant period ends.

New Deal Employment Option - Employers’ Subsidy: Businesses who take on employees aged between 18 and 24 are offered a subsidy of up to £60 per week for six months, and up to £40 per week for a part-time post; with £750 also available towards the cost of training. However, employees must attend an education establishment at least one day a week.

There is a similar programme for those over 25. In this case, there is a weekly subsidy of £75 available for six months for employers to help with the wage of a full-time employee and £50 for part-time employees.

FINANCE

Enterprise Management Incentives: This scheme can provide tax-advantaged share options to help small higher risk companies recruit and retain employees with the skills that will help them grow. They are also designed to reward employees for investing their time and skills.

Enterprise Investment Scheme: Another source of finance is the money that can be raised from individuals who can invest between £500 and £150,000 per tax year in qualifying businesses and receive tax relief on the investment subscription. Under the EIS an investor can become a paid director - this is to encourage investment by business angels who may be able to provide valuable management expertise.

Businesses seeking this funding must have no more than £15 million worth of assets, and be a trading company that carries out its trade wholly or mainly in the UK.

INNOVATION

Grant for Investigating an Innovative Idea: Businesses or individuals who have an idea to develop an innovative product, process or service may be able to receive help from the Department of Trade and Industry.

Businesses and individuals will identify weaknesses and barriers to successful implementation of their innovative idea by undertaking analysis with a chosen mentor prior to submitting an application. The grant, if approved, will reimburse some of the project costs. A maximum grant is £12,000, with most grants between £2,500 and £7,000.

EXPORTING

Passport to Export Success: New exporters can receive assistance with training, planning and ongoing support to help them overseas. There are many services that users can access including a free objective assessment of the company’s capability for export; free help from a locally based expert in international trade; subsidised training and subsidised use of the UK Trade & Investment export service.

ACCELERATOR FUND

This is for the South East of England and it provides loans to SMEs with the potential for significant growth. It offers sums between £25,000 and £100,000 for a three to seven-year period.