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How do I secure a grant?
Finding and securing funding needn’t be a daunting process. There are plenty of options available both nationally and locally, and the publicly funded schemes are all about encouraging growth, creating jobs, and cultivating wealth.
Put simply, grants are a sum of money given by a government or organisation for a particular purpose. Businesses can apply for grants from the government, the European Union, local councils, and charities. It’s important to remember that grants usually require the business to ‘match fund’ them, which means putting up around 50 to 70 per cent of the project cost with the remainder being provider by the grant.
There are several types of government business grants available, and the most suitable type is a direct grant. This is a cash award given to support vital business activities such as training, purchasing new equipment or machinery, and development and investment. Currently, there are over 300 direct grant agencies that offer grants between £5,000 and £500,000, including loans for Start Up businesses.
You’ll be glad to know that most businesses are eligible for grants at some stage in their development, usually at the very beginning of their journey. For SMEs, our search function is a simple yet effective tool to help new businesses find the right funds.