Do you need money to help your small company develop and explore new and exciting industry opportunities? You’ll be relieved to learn that small business grants are available to companies in all four corners of the United Kingdom.
A business grant is an amount of money given to a company by the UK government or another independent organization. It may be utilized for a particular goal, for as investing in new machinery or equipment to enter previously unexplored markets. The best part is that, unlike company loans, business grants do not have to be returned.
Business grants for start-ups and small businesses, and how to find them
Throughout the United Kingdom, there are hundreds of business awards available for application. These are classified into the five categories listed below:
Grants for Innovation
These funds, which are often provided by independent third parties, are granted to small businesses with creative ideas to expand and flourish in their particular sectors. More information is available here.
Allowance for New Businesses
Young entrepreneurs aged 18 and up who are receiving government subsidies may apply for financing and business assistance in creating and launching a start-up. More information is available here.
Local Enterprise Partnerships (LEPs) and Growth Hubs are located across England and provide business finance, advice, and assistance to new businesses. More information is available here.
Grants are awarded via the National Lottery Heritage Fund to enterprises wanting to preserve and develop Britain’s cultural heritage. These businesses include historic and cultural landmarks. More information is available here.
The Prince of Wales’ Trust
People between the ages of 18 and 30 who are in “exceptional circumstances” are given funding to start their own enterprises, as well as training and continuing coaching. You may learn more about The Prince’s Trust by visiting their website.
Small company grants in England are available.
Applying for business funding via your closest LEP’s Growth Hub makes the most sense for start-ups and emerging small companies in England. To date, England’s 38 LEPs have leveraged over £25 billion in private investment in small businesses, assisting over 2 million small businesses in creating over 180,000 new employment.
Small business grants in Wales are available.
Start-ups and small companies wishing to expand in Wales could visit the Business Wales website and utilize their Finance Locator to discover appropriate funds. At the time of writing, there are 1,054 available business grants. By completing the Finance Locator and explaining your company structure, business kind, and financial needs, the form may identify the most appropriate funds to investigate.
Grants for small businesses are available in Scotland.
Start-ups and entrepreneurs in Scotland may apply for business grants via Scottish Enterprise, depending on their region. Those living farther north may be eligible for Highlands and Islands Enterprise awards or local government assistance. For those looking for financing to invest in growth, the Scottish Government offers its own guidance website.
Grants for small businesses are available in Northern Ireland.
As a small company owner in Northern Ireland, NI Business Info should be your first point of contact. This website is the most comprehensive source of grant and financing information, including details on the Invest NI Innovation Vouchers. The latter allows corporations and public-sector organizations to interact and develop together.