How to get small business government grants in the UK
The UK government has hundreds of small business government grants available.
Getting a government grant for your small business can help you save your own capital, aid with your startup costs, and technology help you succeed with your business. The below guide to getting a government grant, and finding government grants for your small business in the UK is a must-read and follow.
As of today, there are over 200 different government grants for startups and existing small businesses available. These funds range from what they could be used for, including rent, business rates, purchasing of equipment, wage support, training, and more.
The process to apply for a government grant is a complex one, as it has numerous steps a small business owner must take, including meeting the various criteria and requirements for a successful application. Generally, these steps start with a proper business plan that is up to par with what the grant funding agency wants to see.
The majority of the new business government grants are awarded to those business owners who are looking to launch a new business or startup. The aim of the government grant funds is to help create jobs and to stimulate the economy. While there are fewer government grants for existing business owners, however many can still benefit, as well as access various other government funding options.
How to get small business government grants
As a small business owner in the UK, to benefit from small business government grants, the process is a bit complicated. This guide will help you through the grant search in 3 simple grant-getting steps.
1. Where to find government grants for new businesses
2. What types of new business grants are available
3. How to apply for the startup business government grants
So, if you are looking for government grants for your own business, take a moment to read, learn and take action. Keep in mind that the UKStartups Funding Database contains a list of all available government grants for startups and existing small business owners. Get expert help with the search, through the application process, and more.
1. Where to find government grants for new businesses
To find all of the available government grants for new business in the UK, it is important to note that to properly search for available government grants or any type of funding via the government, it takes time and dedication. While there are many government grants available, finding them can be a challenge. As the government grants come from a number of agencies split across the UK government, as well as via the Welsh and Northern Ireland, and Scottish governments, the process to find an available government grant may take weeks!
While each government agency has its own dedicated website, finding these websites and knowing how to do a government grant search on your own, may be quite complicated. The UK Startups, Small Business Startup Platform has been created exactly for this purpose, to help you as a small business owner or startup, to search, find and narrow down your government grant options, all in one place. Get your access to all available government grants for small businesses here.
*Keep in mind that as a member of UK Startups, when you use the Funding Database to search available government grants, you will also have expert assistance who help you ensure you follow the process step by step. The experts at UK Startups will help you search and find all available government grants for your small business, plus help you with your business plan, financials, and the application process.
2. What types of new business grants are available
When looking for government grants, typically you will initially consider a non-repayable government grant – which is basically free money that does not need to be paid back.
While a non-repayable government grant is one of the top sought types of the government grant programme, it is not the only type of grant available.
The types of government grants vary and can range from non-repayable options to one time and renewable grants as well as partial contribution grants. Grants can also come in the form of a reduced cost towards expenses; free equipment upgrades if you are in the right industry as well as cash awards.
Speak to a government grant expert now to see what your small business may be eligible for.
The most common type of government grant for startups, aside from the non-repayable option is the direct grant.
A direct grant is a government grant that is given to new startup businesses in the UK, to help with the initial startup costs, which can cover training expenses, initial equipment purchase costs, importing/exporting costs as well as wage support. The direct grants usually provide your small business with 50% of the total value needed but could range as high as £500,000.
In addition to small business government grants, there are many alternatives to business grants which may be easier to obtain as a small business starting up.
These alternatives can include government loans, tax breaks or tax credits.
Speak to a government funding expert now to see what your small business may be eligible for.
3. How to apply for the startup business government grants
So, you’ve taken some time and found yourself a few government grants for your small business – now what?
Knowing how to apply for a government grant is even harder than the search.
Since each government grant scheme is different, it is crucial that you find out if you meet the general criteria and requirements before you take your application on.
The majority of grants available provide funds geared towards a specific industry, or specific funding need, or are aimed at helping regenerate a local community – so knowing how to appeal to these specifics is a must if you want to get funded via a grant.
Here are a few tips to help before you start applying for a government grant for your startup.
Step 1: Speak to the government grant agency.
Once you’ve found the programme and before you apply, it is a good idea to speak to the grant agency. Most will have great support and may lead you into a tip or two on how to apply better.
Step 2: Learn the grant’s purpose.
One of the most important things you can do is learn why the government grant has been created in the first place. What is the purpose of it? Who does it benefit (aside from your business). A lot can be understood by knowing the purpose. Your business plan and funding application should be focused on showing how you will appeal to this purpose.
Step 3: Create a solid business plan.
As a small business, applying for any government grant, you will need a solid business plan. Your business plan should follow the criteria that the funding agency wants to see. If you need help creating a great business plan, you can work with a business plan expert, using the business plan builder tool, which is aimed at helping small business owners apply for government funds.
Step 4: Focus your application towards the grant use
Since most government grants will be “funding specific”, as in, the funds will be used towards a specific need such as hiring, training, purchasing of equipment, going green..etc; it is crucial that your applications, as well as your business plans, show how you will use the funds, and how the grant if awarded will benefit your small business.
Step 5: Apply early!
Most people see a grant deadline and they wait until the end to apply – by this time, the agency probably has thousands of applications, and the funds are not endless. So, the sooner you apply, the better! The most successful grant applications have is when the government grant first opens; as there is a limited amount of money the agency has, it will be awarded to those early on.
With the above 5 steps, knowing where to find the government grants, the different types, and how to apply, there should be nothing stopping you.
Take a moment now to see all available small business grants in the UK via the Funding Database and get your small business funded!
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