Government grants for businesses in the UK are available but there are many misconceptions which are often caused by individuals who have applied and been denied government funding or have not applied and refuse to due to a previous negative belief of government grants!
We are here today to share with you 17 facts about government grants for small business owners in hopes to give you a better understanding of what government grants are and to increase your odds of getting a government grant or government funding in general for your own small business.
Here are the 17 facts of government grants:
- Government grants are offered by different levels of the UK government (National, Regional and Local)
- There are many different government agencies that offer government grants
- Government grants are not always “free money”
- There are different types of government grants
- Not all government grants are considered non repayable government grants
- There are partial contributions that the government does to select business owners that are considered government grants
- There are conditionally repayable government grants (conditions vary from business to business)
- Government grant money obtained must be used for the specific purpose it was initially requested
- Just because you are a British citizen and you pay taxes doesn’t mean you’re eligible for government grants
- Not everyone is eligible for government grants
- Each government grant program has a different set of qualification criteria
- Government grants don’t exist for every funding purpose or industry
- Government grants are not always better then loans (ask us why?)
- Government grant schemes are always changing (just because there isn’t any now for you doesn’t mean there won’t be next time you search)
- Government grant scheme deadlines are always changing
- You need a business plan to apply to government grant schemes
- Government grants are like the game “Where is Waldo“; nearly invisible but with some effort you will find them
As a small business owner in the UK your search for government grants and government funding shouldn’t take forever if you have the tools and resources such as the Funding Database. Otherwise expect to spend 4 to 6 weeks trying to locate funding schemes that may be right for you from the government directly. And remember, the more you know about government grants, the greater your chances of getting a grant will be.