There are hundreds of UK government grants available for small business owners and startup entrepreneurs. These funding programmes are made to save you money, lower your startup costs and to help you grow your small business (SME).
With hundreds of funding schemes available by the UK government, as a small business owner you may be able to obtain these grants for a wide variety of purposes including to hire and train staff, to purchase land and equipment, for marketing and much more.
The challenge however is that the government grant programmes are complex, with numerous processes, steps and each with its own set of requirements and criteria that must be met before you apply. Not to mention that the UK government funding schemes come from multiple sources (funding agencies), meaning you have to know the agency before you apply to the program.
The reason why these funding programmes exist for small business owners in the UK is to ensure continued growth of the economy. By creating jobs, small businesses are able to improve the economy, the UK government is therefore able to support its entrepreneurs through funding.
Where do you find government grants for your small business?
In order to start your funding search, you have to be sure to know what you are looking for. As mentioned above, even though there are hundreds of funding programmes available, they all come from different funding agencies across the UK. Some are regionally specific, some are industry specific while others are funding need specific. This is your first step to find the right scheme for your business.
The funding search is a difficult and time consuming process. Our Funding Database has simplified the search process for you so that you may continue to work on your business while we help narrow down the funding programmes that may be right for you. In fact, our Funding Database has over 800 government grant and loan programmes available from the UK government. Take a look here.
If however you do have the time to research your own schemes, start with the ones that are in your region, for your industry and based on your particular funding needs.
What are the different types of grants that are available?
Government grants vary in their types. Some funding agencies will provide a business owner with a non repayable grant meaning that it is funding dedicated to the businesses’ needs and money that does not need to be paid back. Some funding agencies will provide conditionally repayable grants, which mean that the funding provided to a business owner must be paid back but only once certain conditions have been met (this however depends on the scheme). There are certain funding programmes that will also provide a business with a partial contribution, meaning that it is money paid to you as long as you make an equivalent contribution into your own business.
All government grants are made to help and support the every day small business entrepreneur. Be sure to look at our Funding Database to find the programmes that may be right for your business.
How do I apply for a government business grant?
Every single government grant program is unique with a different set of rules and criteria that must be met before you apply. Most funding programs are created for specific reasons, so knowing these purposes is your first step.
Be sure to apply to only those programmes that you clearly meet the criteria for, otherwise you will be wasting your own time as well as the funding agency’s time.
To ensure success when applying for government business grants be sure to create a professional business plan since every single government grant scheme will ask that you provide a business plan. Also ensure you read the programme guide for the specific scheme you will apply to. Do you meet the criteria? If yes, apply. If no, don’t bother. And most importantly, be sure to apply on time.
Since many funding programmes are opening and closing each week, jumping into it as soon as the scheme comes out is important.
If you need help figuring out which funding programmes and government grant schemes are right for your business, do take a look at our Funding Database, as with over 1,500 funding sources you will be able to search through hundreds of funding programmes in minutes.