Deciding to start a small business in 2019 is probably one of those things that everyone wants to do. With that, being British you must be aware of all of the government funding options that are there to help you start up. However finding government funding programmes for your business might not be something that you’re ready to do on your own, or even know how to do.
So here is the 2019 guide to finding government funding for your small business in the UK.
Guide To Finding Government Funding in 2019
Finding government funding in the UK is no easy task. At least it’s not an easy task on your own.
While government funding exists and offered from many different government funding agencies all across the UK for different industries, it’s not that easy to come by in terms of finding the information related to it.
No the government isn’t hiding the information from you but they simply don’t promote it too well.
Making it extremely difficult for the every day small business owner in the UK to find it.
Before we get into explaining to you how to find government funding for your small business, let’s break it down a bit further for you:
What is government funding?
Government funding is money that is offered by the local, regional and UK government to small business owners and startup entrepreneurs.
The money that is offered is there to help you startup and to expand your business as it helps the British economy grow.
Well simple really; the government gives you money to help you start your business; you make money, pay taxes, hire staff, they pay taxes and ultimately build a cycle.
Who is government funding for?
Government funding is provided by the various levels of the UK government to those startups and existing business owners.
While a ton of programmes exist and new funding programmes are announced nearly every day, it doesn’t mean that every single UK resident is eligible to get a piece of the pie.
Each government funding programme has a different set of rules, criteria and eligibility requirements. So before you jump to joy thinking you’re going to get a million pounds – wait.
While government funding agencies have to be fair in order to benefit those who need it the most (and who can succeed the most); you do have to follow the rules when applying to ensure you’re not being denied because of a simple mistake.
The basics of applying and the factors:
- Have a completed and up to date business plan
- Apply on time with the proper applications completed
- Ensure you meet the criteria and qualifications by the programme
- Know how much you need (and make sure the programme offers this)
- Be sure that the programme offers funding for the needs you have.
- You must be a British citizen.
So is government funding for you? Perhaps.
What kind of government funding exists?
There are different types of government funding programmes.
Not only what the type of monies you may be eligible for; but what you can get funding for.
So; the type of money you can get:
- Government grants
- Low interest and no interest loans
- Tax credits/tax breaks
What you can get funding for:
- Hiring and training staff
- To pay for marketing and advertising
- Help buying tools, supplies and equipment
- Monies to help you renovate and purchase space
- R&D funding
- Cash Flow improvements
- and more
Can I apply for government funding?
Sure you can.
Before you start your application process be sure to have the above mentioned factors checked off.
- Are you a British citizen?
- Do you have a completed business plan? Is it up to date? Does it talk about your funding needs?
- Know which programme to apply to?
- Do you meet the requirements and criteria of the programme?
- Are you applying on time?
If you have the basics covered, get to applying. Finding govenrment funding programmes is the tough part, and we here at UKStartups.org are here to help. Which takes us to the next section, finding government funding!
Where to find government funding programmes?
Government funding programmes are provided by the UK government – also regional government and local governments.
Where do you find the funding?
Well, most people simply start on the government site or on Google.
After a few weeks of searching you may find a few of the programmes that may be right for you.
Sure there are the popular programmes that everyone applies to; but most of the time these are just loan programmes that even your bank could tell you about.
But did you know that there are nearly 1,000 government funding programmes in the UK?
So here is the deal – if you tried finding government funding programmes for your small business and just don’t know where to look anymore; stop.
The Funding Database that is offered by UKStartups has all of the funding programmes offered by the UK government. All in one place, made for you search, one by one, by region, by industry and by funding needs.
So if you want to save time – get the help from professional experts and starting finding government funding programmes right now – this is it.