We recognize the challenges entrepreneurs face when securing grants and financial support. Business grants are an excellent way for new businesses to ensure capital for growth. They can cover various expenses necessary to get your business off the ground, such as training programs, equipment purchases, marketing efforts, and research and development of new products or services.
That's why we want to recommend some grants and resources that can give your business the boost it needs. Whether you're based in England, Scotland, Wales, or Northern Ireland, these grants are available to SME businesses throughout the UK.
It's important to note that many grants are specific to certain locations or sectors or may focus on particular aspects of a business, such as job creation or eco-friendly initiatives. We've compiled a comprehensive list of grants, including their eligibility criteria and application process. You can find the links to each grant in the numbered headings below.
Now, let's explore some of the grants available in the UK:
- Innovation grants: These grants, provided by various funding bodies like Innovate UK, support innovative ideas and business growth, particularly those stemming from the UK's research base.
- The National Lottery Heritage Fund: This fund provides grants to sustain and transform the UK's heritage, including investment in museums, parks, historic places, and cultural traditions.
- R&D tax credits: The government offers cash payments to companies that carry out research and development projects related to science or technology.
- Local Enterprise Partnerships (LEPs): These partnerships between local authorities and businesses provide funding, support, and guidance to businesses in specific local areas.
- New Enterprise Allowance: This program offers funding and support to individuals looking to start or develop a business. Eligibility criteria include being aged 18 or over and receiving certain benefits.
- The Prince's Trust: Supporting young people aged 18 to 30 who want to start and run their businesses, The Prince's Trust provides funding, resources, training, and mentoring.
- Regional Growth Fund: This fund offers grants to businesses in specific regions of the UK, intending to support economic growth and job creation.
- Exporting for Growth: Designed to help businesses expand into international markets, this grant funds activities like market research and attending trade shows.
- Carbon Trust Green Business Fund: This fund supports businesses looking to reduce their carbon footprint and become more environmentally sustainable.
- Manufacturing Advisory Service (MAS): MAS provides advice and support to manufacturers in the UK, including grants for business improvement projects.
These are just a few examples of the grants available in the UK. Remember, there are also grants for tax relief, skills development, and local business support. It is crucial to explore each grant's specific requirements and determine if it aligns with your business's goals and needs.
Find more on:
- Finance and support for your business – gov.uk
- 150 UK small business grants to apply for right now – Small Business
- Best small business and start-up grants and loans in the UK – unbiased
- A guide to UK business start-up grants in 2023 – Crest Legal
Securing grant funding can be a competitive process, but with careful planning and preparation, you can increase your chances of success. When applying for grants, keep the following tips in mind:
- Timing: Apply when the grant opportunity aligns with your project's stage and goals.
- Define the opportunity: Ensure you meet the eligibility criteria and that the grant is relevant to your business.
- Outline your project: Clearly define your project's scope, objectives, and the impact it will have.
- Outline costs involved: Justify the costs and explain why they are necessary.
And remember that soon Ampere will be offering business loans to our clients. Our goal is to support your growth and success. Therefore, with Ampere, you can get business loans already after 3 months of operating and up to twice your monthly turnover with a straightforward application process.
We can't wait to show you all the financial resources you need to thrive!
