As you can imagine we here at UKStartups get a ton of questions asked about small business, business plans, government funding and pretty much anything and everything to do with starting up and expanding a business in the UK. We answer every single question and you can see thousands of past questions right here.
But today we are going to share with you the top 10 questions and our answers that have come to us in regards to government funding for small business owners:
Question #1: Does the UK government have grants for business owners who need funds to cover cost of appreticeships?
Yes, the UK government does have grants for business owners who need funds to cover the cost of apprenticeships. The grants available for such applicants are business grants. Business grants are made by the government, keeping every aspect of business needs and requirements in mind. Thus, you can use a business grant to cover recruitment costs, training expenses, purchase of business equipment and more. Read full answer here.
Question #2: Is there government funding in the United Kingdom for a small business?
There is funding from the government available for small business owners to apply for throughout the United Kingdom every year. Grants and loans from the government are provided. This is so that people who may not otherwise be able to start businesses or meet their goals can get the money they need to do such things. These are not hand outs, and everyone who applies will not be given funds. So, have more than one option in mind when seeking money. Look at the eligibility requirements and other details as well, before making your decision. Read full answer here
Question #3: Are all government grants British national government grants?
Not every government grants programme are British national government grants. There are also grant programmes offered in different regions by local branches of government, and these are only available to people within the regions they are specific to. Each grant from the national government is open to all eligible people, regardless of their location within the nation. If you need money in the form of a grant be sure to investigate both national level and regional level options to be certain you do not overlook a programme that would benefit you. Read full answer here
Question #4: How would I qualify for high risk business funding?
High risk small business funding is generally going to fall under the purview of higher interest loans, typically requiring government backing before a lender will make the loan, in the form of guarantees. In certain, extreme situations, the government may be willing to make the loans themselves if they deem their small business to be too essentially to be allowed to fail, or if the sum of money required is beyond that of most traditional lending institutions.. Read full answer here
Question #5: Does the United Kingdom offer support for business needs and financing?
Financing for business is available from the United Kingdom government in the form of grants and loans, and there are regional and local area programmes in many places that are also offered to applicants there. To find financing for your particular business, take into account first what you need to use the money for. Then you will be able to narrow your search based on the qualification requirements and the intended uses of the offers that you find and pick a grant or loan that is ideal for your business. Read full answer here
Question #6: What government agencies provide loan programmes for a startup business?
Loans offered by either regional governments or the United Kingdom government are typically offered at a lower interest rate than bank loans for a small business start up, and may be paid back over usually longer periods of time. UKStartups.org is an outstanding reference for anyone seeking government funding. The information within their database has helped many people and organisation get the funding that they needed, and it may be able to help you, also. Read full answer here
Question #7: Who offers financial assistance to help finance a small business?
A lack of finance is a common reason for a small business to fail or never even get started. Entrepreneurs having a difficult time finding a way to finance their dream can fund their small business. There is much financial assistance for existing small business owners but only limited financial assistance for starting small business owners. Read full answer here
Question #8: Are there any grants for new businesses from the government??
Grants from the government are offered for new business costs, but this is not the only type of grant that is provided by the government. Business grants that are for existing business use are more common and may have less competition for their funds, but there are some for new business needs federally available and in each region as well. When seeking a grant, do not overlook any local area programmes that may be available to you and your business. Read full answer here
Question #9: What should an entrepreneur do if they need to borrow money for a small business?
An entrepreneur in need of money to help their small business grow may be able to borrow it from the government in the form of small business loans. If you want a loan but do not want to deal with the interest rates and demands of the bank, see if you qualify for a government loan or perhaps a grant is the best option for you. If you are eligible there are lists of loans available, many with favourable rates that can really help. The government has these programmes specifically to help small businesses, so they are oftentimes more advantageous than other options that provide money. Read full answer here
Question #10: What are the steps I need to take to get a loan from the government?
You will first want to research available government loans to determine which is best suited for your needs. Once you have decided on a specific lending program, you will need to prepare your application. Consider that you credit history, debt to income ratio, and other financial information will likely be needed. You may want to present your business plan as well Read full answer here
If you see a question and would like to re-ask, please feel free to do so. We share the top questions and answers all of the time. To review thousands of questions and answers already posted; take a look right here.