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What Is A Manufacturer From a Marketing Funding Perspective

What Is A Manufacturer considered as from some funding perspectives

From a funding perspective there a three ways of being classified as a manufacturer

  • You have a Standard Industry Classification (SIC) of 10XXX to 33XXX
  • You are a company that designs and sells a physical product, even if you outsource the actual production
  • You are a company that changes the state of a physical item in order to add value
What Is A Manufacturer From a Marketing Funding Perspective

What is a manufacturer eligibility

  • To be eligible for most funded support your business must have the characteristic of looking to improve and grow; there are set figures for meeting the relevant growth criteria.
  • plus fit the following criteria
  • Registered in the UK and based in England
  • Have up to 249 employees
  • Have turnover of up to £40 million
  • Meet the EU definition of  Small Medium Enterprise (SME)

Overview of potential funding available to mmanufacturer’s

  • From MAS matched funding at 50% up to a £3000 maximum limit
  • When used for consultancy support this is based on a maximum of £300 per day (so essentially where a consultant charges £600 per day you could get a 10 day consultancy project match funded )
  • Typically one MAS project every 2 years though in some cases it may be possible to get repeat projects

For many manufacturing companies they think of marketing as a cost that should be avoided. Therefore many wait for funding schemes to become available, and use the ability to get some grant funding to act as the stimulus to complete their marketing activities. I would suggest that manufacturing companies who have a great product or great service offering , but poor marketing should invest in the marketing process irrespective of funding options.

Funding for manufacturers is a movable feast and whilst some schemes are national there may be additional local funding available. For more information on funding for manufacturers click here or to contact a marketing and sales professional click here

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