It’s always good news for Cumbrian businesses when they learn that there may be a chance of getting substantial monies to drive business development forward in the form of grants. That time is again here. The emphasis this time is on product development, an area of marketing where I can help support businesses. Clearly with the development of more products that satisfy customer needs there is the potential to expand one’s business and new product development is a business cost which needs to be borne in mind as until the product life cycle hits the growth stage, it will not produce profit. Applying the Boston Box to your product portfolio enables you to review how well each of your products are working for you and innovation enables you to remain competitive, taking on board macroenvironmental forces of change reviewed via a PESTLIED analysis. Innovation also gives you the potential to earn supernormal profits if you get things right, but many new products fail in the market for a number of reasons.
The funding is available from DEFRA. It has to be linked to a project that promotes tourism. Whilst farms have been beneficiaries to such grants in the past encouraging them to diversify into offering B and Bs, cafes, farm shops etc this opportunity goes wider. You may have a number of ideas and struggle to find the time to progress them, or not like doing the paperwork to get the grant. This is where I can help you.
I can help you review a new project through developing a business plan, considering the marketing and financial aspects of a new project and completing the relevant paperwork to apply for the grant if the innovation looks attractive following consideration of possible benefits to your business.
Not only do you benefit from the grant, the local economy benefits from jobs secured and the country benefits from increased revenues from taxation so it’s a case of win win all round. Of course you need to put time aside to consider whether the opportunity is for you. Further details are available at http://www.rsnonline.org.uk/business/government-unveils-rural-productivity-plan .
If you would like to discuss taking this further and getting support from me to carry out marketing activities in relation to your business, draft a business plan, fill in application details for the grant etc then do give me a ring 01228 562988 and we can meet up and see if we would both be happy to take a business relationship further.