Business grants remain a critical form of government funding for numerous businesses in the UK. They have a substantial impact by initiating fresh capital projects and enabling the pursuit of inventive solutions to tackle some of society's most pressing social issues.
Register for an account and log in to your Owl Finance profile to access the list of available grants. Presently, our platform features more than 400 grants, and we regularly update it with new opportunities. We suggest reviewing your grant matches at least once every quarter to stay informed about the latest funding options at your disposal.
Timing is essential. Make certain that you're applying at a suitable stage and have a well-defined opportunity to seize. New funding opportunities become available throughout the year, so it's crucial to regularly consult Owl Finance's grant finder for any new grants for which you may qualify.
Clearly define the opportunity Ensure that you meet the eligibility criteria and align with the specific focus of the grant. It's important to avoid investing time and effort into applying for grants that may not be a good fit for your business.
Develop a well-defined project Clearly outline and emphasize the impact it will have, ensuring it aligns with the grant's scope. To make your application stand out and increase your chances of receiving funding, be thorough in your preparation and ensure all necessary groundwork has been completed.
Provide a comprehensive breakdown of the project's expenses Make sure to justify why each cost is necessary and the precise amount required to cover these expenses. Clarity and justification regarding the budget are essential when applying for funding.
Clearly articulate your objectives when applying for a small business grant. Define what success will look like as a direct result of receiving the grant. Establish measurable criteria to determine when you've achieved your goals. Additionally, highlight the anticipated economic and social impact your project will have, demonstrating the significance of your proposed initiative.
Create a detailed timeline that outlines the expected progress and milestones your project will achieve. These projections are critical, as they will be closely monitored if your grant application is successful and should align with the scope and objectives of the grant.
A business grant is a monetary award provided to a business to support its growth and development. This funding can be utilized for various purposes, such as investing in training, acquiring equipment, or expanding into new markets. Typically, business grants are granted by the government or other organizations, and unlike business loans, they do not require repayment.
Here's an overview of some of the grants and support programs:
Innovation Grants: Organizations like Innovate UK offer innovation grants to support creative ideas and business growth, particularly those emerging from the UK's research institutions.
The National Lottery Heritage Fund: This fund provides grants to preserve and enhance the UK's cultural heritage, including investments in museums, parks, historic sites, and cultural traditions.
R&D Tax Credits: These are government incentives that provide cash payments to companies engaged in research and development projects related to science or technology.
Local Enterprise Partnerships (LEPs): LEPs are partnerships between local authorities and businesses that offer financial support, guidance, and resources to businesses in their respective regions. There are 38 LEPs in England.
New Enterprise Allowance: This program provides funding and support to individuals looking to start or grow a business. Eligibility criteria include being 18 or older and receiving Universal Credit, Job Seeker's Allowance, Employment and Support Allowance, or Income Support.
The Prince's Trust: Geared toward young people aged 18 to 30, The Prince's Trust supports those aiming to establish and operate their own businesses. The Trust offers funding, resources, training, and mentorship.
To find small business grants in the UK, you can explore various resources and government agencies specific to your region. Here's where you can look for grants in each part of the UK:
In England:
Growth Hubs: There are 38 regional Growth Hubs across England that can provide funding and guidance to boost your business in your local area. You can find a list of these hubs on the Local Enterprise Partnerships (LEP) Network website.
In Scotland:
Scottish Enterprise: Depending on your location in Scotland, you may be eligible for business grants from Scottish Enterprise. Visit the Scottish Enterprise website for information on available grants and funding opportunities.
Highlands and Islands Enterprise: If your business is based in the Highlands and Islands region, you may have access to grants from Highlands and Islands Enterprise. Check their website for details.
Local Councils: Local councils in Scotland may also offer grants and support programs for businesses. Contact your local council for information specific to your area.
In Wales:
Business Wales: The Business Wales website features a finance locator that can help you search for grants your business may be eligible for. It provides information on application processes and various funding sources, including grants from the Welsh government, UK government, local authorities, and charitable organizations.
In Northern Ireland:
nibusinessinfo.co.uk: This website provides resources to help businesses in Northern Ireland explore grant options. You can find information on government support, innovation grants, research and development grants (such as Invest NI Innovation Vouchers), and more.