This document provides an overview of the Start Up Cornwall 2014 event, including information on presenters, topics, and organizations participating. The event covers topics like business structures and contracts for startups, funding and support options, tax issues, and legal considerations. Presenters are listed from various professional services firms, universities, and other business support organizations. The document provides contact details for following up on resources and programs discussed at the event.

1. Start Up
Cornwall 2014
Ivan Burnard- Partner

2. www.francisclark.co.uk
Administration
Admin
Timetable
Format
Presenters…

3. www.francisclark.co.uk
Presenters and other participants
…and more

4. www.francisclark.co.uk
Twitter
Follow us on twitter @francisclarkllp
Tweet about this event using
#StartUpCornwall

5. SWIG Start Ups
Lisa Moore

6. Operating across the
South West
300 entrepreneurs with over £1.2 million

7. • Government-backed low interest
loan (6%)
• Free business support and advice
• 12 months free mentoring
• Complete Start Ups or trading
less than 12 months
• Must be over 18

9. www.swigstartups.co.uk
01872 223 883
info@swigfinance.co.uk

10. Lucy Roberson

13. Funding and
support round up
– Start Ups
Nicky Cornish
Corporate/ Corporate
Finance

14. www.francisclark.co.uk
Previously known as “Grant for R&D”
Science, Engineering and Technology: New Products and Services
Grant support for SMEs:
• Proof of market (9 months, £25k, 60%)
• Proof on concept (18 months, £100k, 60%)
• Development of prototype (2 years, £250k, 35% / 45%)
Competitive / Batch Applications
Smart v R&D Tax Credits - cannot have both for same project
Grants, Debt, Equity and Support
SMART

15. www.francisclark.co.uk
Grants, Debt and Equity - Funds
Cornwall Development Company administered
• Business Investment in Growth (“BIG”) Voucher
Scheme
Grants of £1,000 up to £50k
Match funding
“step change” expenditure
High growth businesses (can be Start Up)
Average £9k / job created
Convergence
http://www.francisclark.co.uk/blog/general/business-investment-
for-growth-voucher-scheme

16. www.francisclark.co.uk
Grants, Debt, Equity and Support
• Superfast Cornwall Fund
- RGF funded
- £1,000 to £50,000 grant towards 50% of project costs
- SME looking to invest in “innovative technologies or activities that require
the use of superfast broadband”
• Micro Business Incentive Scheme (MBI)
- Manufacturing sector
- Cornwall
- Employing < 10 persons, T/O and BS < Euro 2m
- £5,000: to create a new job or increase hours for existing employee
- First call for applications closes 30 May 2014

17. www.francisclark.co.uk
Grants, Debt, Equity and Support
• Assisted Asset Purchase Scheme
Grant contribution to deposit on Asset Purchase
Parameters depend on bank e.g., Lloyds
• Grants < £500k
• 20% for Small Co and 10% for Medium Co
• 1 job created or safeguarded for £15k grant
• No minimum deposit from own funds (?)
• Balance of funds (min £100k) from Lloyds TSB
Lloyds TSB open. Nat West/ RBS is open. http://www.francisclark.co.uk/news-views/blog/lombard-
and-natwest-assisted-asset-finance-scheme/
RGF Funded

18. www.francisclark.co.uk
Grants, Debt, Equity and Support
Cornwall Development Company administered (ERDF)
• Business Innovation Fund
Grants from £1,000 to £50,000 for 50% of project cost
“Projects at any stage of development process for new and
existing products and services”
“Project has to involve buying in specialist services from CUC
universities, colleges and other Higher Education Institutions
(HEIs), Intellectual Property solicitors, Market Research
agencies, Process, Manufacturing or Product Design
specialists”
ERDF European Funding eligibility applies.
http://www.francisclark.co.uk/news-views/blog/bif-bang-innovation-fund-for-smes-live-in-
cornwall/

19. www.francisclark.co.uk
Grants, Debt, Equity and Support
Rural Business Investment Scheme – phase 2
• Agricultural, horticultural and forestry and food & drink businesses
• “Value Add”
Horticultural and agricultural – Temperature controlled facility, packing facility, grading
equipment. PLEASE NOTE general storage is not (generally) looked upon favourably;
Forestry – Cutting facilities (post felling); and
Livestock – Meat cutting facilities (e.g. butchery elements), temperature controlled storage
• Grant: up to £25k @ 40% intervention but…
• Job creation: some (£30k per job in Phase 1)
• Committed by June and spent by December 2014

20. www.francisclark.co.uk
• MAS
Grants, Debt, Equity and Support

21. www.francisclark.co.uk
• UKTI
Support to........
• Develop an export strategy – Passport to Export (£3,000), Gateway to
Global Growth (£3000)
• Undertake market research (including identifying potential partners) –
EMRS (50% match), OMIS (subsidised)
• Visit & develop new export markets – MVS (£200-£850)
• Improve international communications: website, email, languages &
culture – ECR (subsidised), ECR EV (£3000)
• Exhibit overseas – TAP & TAP SOLO (£1,000 to £2,500)
• Carry other marketing and sales development activities - European
funding (ERDF) (£1,000 to £30,000)
Grants, Debt, Equity and Support

23. 23
A free investment readiness service for ambitious
businesses in Cornwall and the Isles of Scilly looking to
access money and markets to start, sustain or grow
#getsetforgrowth
Gregg Harding

24. 24
Who can we support?
New Businesses
Start-ups & early stage
Existing SME Businesses
Up to £40 million annual revenue
Up to 250 full time employees
Charities & Social Enterprise

25. 25
First-hand business experience
Integrated specialist assistance
Tailored & flexible service
Post funding support
The GetSet Service

26. 26
• Financial Diagnostic
• Cashflow Forecast
• Profit & Loss Forecast
• Business Plans
• Identify appropriate funding sources
• Funding application assistance
• Investor presentation/pitches
Financial Support

27. 27
• Sales & Marketing Diagnostic
• Route to Market
• Customer Needs
• Value Proposition
• Marketing Strategy
• Sales Pipeline
Sales & Marketing Support

28. The GetSet Support
Sales &
Marketing
Create, develop and
strengthen
marketing and sales
strategy
Finance
Help you get the
money you need to
take your company
forward
Skills & Knowledge
Develop world-class
skills and
knowledge

29. 29
Already supporting: 79 clients
Already funded: 15 businesses
Already raised: £393,000
Anticipated job creation: 31 new jobs
Success so far….

30. 30
Thank you and get in touch!

31. Dan Sampson
Business Manager
01872 223681
07990 506372
daniel.sampson@rbs.co.uk

32. START UP CORNWALL 2014
LEGALS, CONTRACTS AND BUSINESS STRUCTURES
13th May 2014

33. START UPS: LEGALS, BUSINESS STRUCTURES AND CONTRACTS
• Why “legals” at all?
• What business structures are available to start ups?
• Of course!

35. LEGALS: COMPLIANCE

36. LEGALS: DISPUTE RESOLUTION

37. LEGALS: PENALTIES

38. LEGALS: CLARITY

39. BUSINESS
STRUCTURES

40. BUSINESS STRUCTURES: TRADING ENTITIES

41. BUSINESS STRUCTURES: COMFORT

42. BUSINESS STRUCTURES: INCENTIVES

43. BUSINESS STRUCTURES: EXIT

44. CONTRACTS

45. CONTRACTS: IP

46. CONTRACTS: EMPLOYEES

47. CONTRACTS: BANK

48. CONTRACTS: PROPERTY

49. Summary: key legal issues for start ups
• Legals
• Constitution
• Shareholder agreements
• Partnership deeds
• Terms and conditions
• Business structures
• Types of trading entity
• Exit
• Contracts
• Monetising intellectual property
• Employment contracts
• Funding arrangements
• Property commitments

50. THANK YOU
Gavin Poole
07791 260251

51. Tax…
"The only things certain in life are
death and taxes." Benjamin Franklin
13 May 2014
Seb Beard - Manager

52. www.francisclark.co.uk
Overview
• Taxation of sole trader / partnership
• Taxation of Ltd / CIC
• Capital allowances
• VAT
• Tax schemes and reliefs for start-ups

53. www.francisclark.co.uk
Taxation of profits – sole trade/partner
• Taxed on profits in accounting period
• Income tax (20%/40%/45%)
• Class 2/4 National Insurance

54. www.francisclark.co.uk
Taxation of profits – Ltd/CIC
• Company profits taxed at corporation tax rates
(20%/21%)
• Profits ‘locked’ in company
• Profit extraction planning – salary vs dividend
Ivan Ltd/CIC

55. www.francisclark.co.uk
Capital allowances
• Annual Investment Allowance (100% up to £500k)
• Writing Down Allowance 18%
• Integral Features 8%
• Enhanced Capital Allowances 100%

56. www.francisclark.co.uk
Capital allowances - cars
• Writing Down Allowance based on CO2 emissions
• Less than 96 g/km 100% WDA (until 05/04/2015)
• 96 g/km – 130 g/km 18%
• Over 130 g/km 8%

57. www.francisclark.co.uk
VAT
• Standard rated goods 20%
• Registration limit £81,000 taxable turnover
• Voluntary registration?

58. www.francisclark.co.uk
Tax Schemes and Reliefs
• Seed Enterprise Investment Scheme
• Social Investment Tax Relief
• Research and Development Tax Relief
• Patent Box

59. www.francisclark.co.uk
Get in touch
Sebastian Beard
Business Services Manager
sebastian.beard@francisclark.co.uk
01872 276477

60. 60
Ian Williams, Operations Deputy
Outset Cornwall

61. 61

62. 62
Phase 1 and Phase 2
Since June 2009 we have:-
Assisted over 400 Clients to start
their own business
Helping create over 500 jobs

63. Sally Heard

64. Global SSE
SSE National Schools
Cornwall
Devon
East of England
Hampshire
Scotland
London
West Midlands
Yorkshire & Humber
SSE Global
Australia
Canada
Schools in Development
Ireland
India

65. Lloyds Bank
Social Entrepreneurs Programme
START UP PROGRAMME
12 month programme
£4,000 grant
20 participants per programme
Robust recruitment process
Application
Interview
Assessment Panel

66. Live Programmes…
• Lloyds Bank Social
Entrepreneurs Programme
• Social Enterprise Focus
Project (SEF)
• The Engine Room
• Business to Business
• 50/50 Programme

67. Tregonissey House
(home of SSE Cornwall)
• SSE Cornwall Hub
• Flexible Affordable Office
Space
• Meeting & Conference
Space available

68. Any Questions?
sally.heard@ssecornwall.org

69. Chris Phillips

70. Unlocking Potential...What’s on
offer?
• 2 1/2 Day Boot Camp
• Events
• Networking
• Future Skills (qualification based)
• Fast Forward

71. Unlocking Potential...What’s on
offer?
• Graduates within 10 years
• Up to 12 months support
• Potential Cash Investment (up to £4800)
• Potential Skills Development Budget (up to £900)
• Access to 250+ Industry mentors (Paid for from Skills Budget)
• 1-1 Support from UP Start Up Specialist

72. Unlocking Potential...What’s on
offer?
• Graduates within 10 years Cont.
• 6 x 1 day workshops (1 day per month) covering
• Planning
• Finance
• Sales/Marketing/Branding
• Negotiating
• Contract/Intellectual Property

74. IGNITE 2014
Presented by: Richard Lawrie
Date 13th May 2014

75. Ignite - Eligibility
• The business start-up competition
• Prize fund - £120k
• Pre and early start businesses based in
Cornwall and IoS
• Trading for less than 12 months on 16th
September 2014
© Oxford Innovation 2014

76. Looking For ?……
© Oxford Innovation 2014
An innovative and justified
business proposition.

77. LOOKING FOR?
STRONG
ENTREPRENEUR
TESTED
CONCEPT/
MARKET
UNIQUENESS
(USP)
SCALABILITY
EMPLOYMENT
INTELLECTUAL
PROPERTY
© Oxford Innovation 2014

78. The Ignite Process
© Oxford Innovation 2014
• Attend Ignite experience workshops
• Submit 3 minute ‘video’ pitch
• Judges select finalists
• Finalists submit written business plan
• Judges select:
• Winner of Ignite 2014
• Winner of Innovative Product Award

79. Ignite Experience
Workshops….
© Oxford Innovation 2014
• Person – The entrepreneur
• Proposition – Business idea
• Plan – ‘Lean’ business process and
plan
• Pitch – ‘Sell’ your idea

80. Section
Ignite 2014 Key Dates…..
Oct 27th - Submit business plans
13th Nov – Winners announced
June/July/August - Ignite workshops
1st Oct - Finalist announced
© Oxford Innovation 2014
16th Sept - Closing date video pitches

81. How?……
© Oxford Innovation 2014
• Learn more and register your
interest:
www.ignitecornwall.com

82. Giel Spiering
Managing Director
Ignite 2013 winner

83. Supported by
Heather Forster
Crowdfunder Coach

84. Fund and validate
local projects
Crowdfunder is the UK’s number one
crowdfunding
platform.
We help businesses, community groups and
Charities to raise money and bring people
together.
We have worked with 1000’s of projects all over
the UK and raised nearly £2m for projects all over
the world.
We are backed by Nesta’s Innovation in Giving
Fund and here in the South West by Plymouth
University.

85. There are three different types of
crowdfunding
• Sell shares in your
company giving a % of
equity in exchange for
money
• Dragons den
• Crowdcube
• Borrow money
online from lots of
people rather than
the bank
• Funding Circle
• Folk to Folk
What is Crowdfunding?
The Market
Lending Reward
s
Equity
• Only type that builds communit
• People give money
in return for rewards
• Crowdfunder.co.uk

86. Benefits of Crowdfunder
Benefits
Funding
Advocates
Validation
Marketing

87. What have we achieved so
far
History

88. Fabulous example of Start
up business Crowdfunding
with us

89. Get in touch …

90. www.francisclark.co.uk

91. www.francisclark.co.uk
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