Read through this blog to get clued in on government grants for small business start-ups!
Government grants for small business start-ups are highly sought after. And we can attest to that. With the government’s efforts to spur COVID recovery, it’s a good time to get started on your search. Due to the competitive nature of these grants, we’ll arm you with the knowledge to produce great grant proposals.
What are grants?
For those not in the know, grants are full or partial funding for a desired purpose from an organisation. One of the best things about a grant is that it’s free. And, unlike investment, a controlling stake of the company isn’t removed from you. The funder can be a government, charity, or commission. In most cases, this can take the shape of:
- Financial aid for business start ups
- Protecting businesses from the effects of nationwide events (such as COVID, natural disasters etc.)
- Financial support for research in any field (funding for a medical research project)
- Funding for a course of study (e.g., partial or full coverage of a degree)
- Encouragement for nationwide adoption of technology (for instance, the green home grants for solar thermal panels).
Some tips to get your grant proposal just right
In order to get these grants, you’re going to need to write winning grant proposals. Take a look at some of the tips below, and you’ll have a clearer idea of what to write.
1. Digest the criteria
You need to fully confirm your eligibility before you begin the grant writing process. For example, you’re halfway through the proposal and you discover that your business isn’t eligible due to an overlooked criterion. You’ve wasted time you could have been spending on other proposals/searching. Following this, make sure if its region-specific that it’s for your area. Government grants for small business start-ups could include extensive criteria so understanding it is crucial.
2. Submit your proposal early – don’t be late!
Ultimately, it’s a wise course of action to submit your application early. Too many companies rush their submissions, and it leads to criteria not being read, and questions not being answered. Don’t make their mistakes, and block time out of your day to write a quality, well thought proposal. Whether it’s government grants for small business start-ups, or other grants… the commission won’t accept late submissions.
3. Proofread your proposal
Quite a few proposals are hindered by poor grammar. If you’re a start-up, the focus is on you to perform and prove your eligibility to the commission. Take some time aside and get a colleague to look it over. For high levels of funding, get it outsourced to ensure a professional level of grammar and accuracy.
4. Provide a concise and clear business plan
The commission might be providing large funds to get you started on your journey. You need to provide some assurances that it’ll go to the right places. In order to do this, you’ll need to outline a clear business plan. It could include:
- Financial statements
- Financial objectives
- Business description.
5. Look into the competition
As mentioned above, competition is fierce with regard to government grants for small business start-ups. And if you lose the grant, you may be asking yourself why. A good rule of thumb is looking into the successful applicant. What made them stand out? Was it a comprehensive business plan, outlining exactly how the funding will be used? Was it their tailoring of the proposal to the government body/council? The more you discover about their winning features, the better.
Places to look for start-up grants in the UK
Where would you begin to look for government grants for small business start-ups in the UK?
· Government Grants for Start-ups in Northern Ireland
Within Northern Ireland, there’s the NI business support finder. Some of the grants are:
- Start-up Seed Fund
- From Student to Sale.
· Government Grants for Start-ups in England
In England, you could utilise the business support helpline. Another option is the business growth hub. Both are good options from the government in providing information around grants:
- Alpha’s project
- Business Growth Programme 2 – The Marches.
· Government Grants for Start-ups in Wales
For the Welsh government, their main website is a great place to start for grants. As well, the ‘business wales’ website helps in your search for Welsh government grants. Here are a couple of them:
- Caerphilly Business Start-up Grant
- Blaenau Gwent Kick Start Plus Grant.
· Government Grants for Start-ups in Scotland
For Scotland, there is a helpline specifically for businesses struggling with the effects of COVID. Another option is the find a business support website. Some options for grants include:
- Horizon Europe grants
- Scottish Venture Fund.
Although these sources are ok in finding grant opportunities, there’s a better idea…
Our Grant Tracker.
Our Grant Tracker is live and hosts all the latest grant opportunities in the UK from 1,500 data points. Opportunities will be manually tracked, enabling for accurate keyword labelling, optimising your search for the perfect grant. Here, you can find government grants for small business start-ups.
You can sign up now!
In summary
So, now we’ve reached the end of this blog about government grants for small business start-ups. To recap, we covered:
- What grants are, and some of the benefits of getting them
- Places to look for government grants across the UK
- Some tips to write a winning grant response:
- Submitting your proposal in good time
- Proofreading your proposal
- Digesting the criteria
- Providing a solid business plan
- Looking into the competition.
Need help with writing your grant application?
Our Grant Writing Service is for businesses who want to start applying for grants, but don’t know where to begin. If you don’t have the resources or the time in-house to write a winning grant – we can help. Our Grant Consultants have over 60 years of bidding experience and can help you bid for funding efficiently. They can take care of the whole thing for you – they’ll even submit it on your behalf.
Get in touch to find out how we can help your business grow!
Grant Tracker
You can find grants on our Business Grant Tracker. Currently, we have over 1,700 live business grant and funding opportunities. Our team have manually tracked 1,500+ data streams searching for business grant opportunities. Each one is then uploaded to one central system, streamlining the process.
All you need to do to gain access is sign up for free.
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