Grants and support

Grants to help with business development are available from a variety of sources including Business Link, the European Union, Regional Development Agencies, local authorities and the Government.

However grants are usually linked to a particular business activity or a specific industry sector and some grants are only available in specific geographical areas. There are a number of factors which affect eligibility for a grant and these include:

Location of a business
Some schemes operate across the whole of the UK, but there are also a number of schemes that are administered locally. Additional support may be available to a business intending to grow or develop in an area of social deprivation, known as Assisted Areas.  

Size of a business
Grants are available for both new start-up businesses and to support the development of small and medium sized businesses (SMEs). An SME is defined by HM Revenue & Customs as a company with fewer than 250 employees, and either an annual turnover not exceeding €50M or a balance sheet total not exceeding €43M.

Industry sector
Some funding schemes are directed towards the development of a particular industry sectors, for example, manufacturing and agriculture.

Purpose of the grant
Grants are usually available for a specific purpose. The project will need to be well defined and a professional business plan would help with any proposal.

The project could include business planning, corporate identity, recruitment, ICT infrastructure, exporting, training, website design, market research, investment in plant and machinery, and legal advice: the list is extensive. However, it is unlikely that a grant will be available for a business to do exactly what it likes with the funding and usually you will have to put up some of your own money towards the project.