Business grants remain a crucial source of government funding for many UK businesses. It’s often essential in getting a new capital development off the ground, or for exploring new and innovative models to solve some of society’s toughest social problems.
What is a business grant?
A business grant is a sum of money awarded to a business to help it grow and develop – the money could be invested in training, equipment or reaching new markets, for example. Business grants are usually awarded by the government or other companies and, unlike a business loan, business grants do not need to be repaid.
What grants are available for startups and small businesses in the UK?
There are hundreds of business grants available in the UK, with many aimed at specific industries, community groups or types of business. If you’re a startup or small business you’ll be able to choose from the following:
Innovation grants: these are provided by a variety of funding bodies to support innovative ideas and business growth, including those from the UK’s world-class research base.
The National Lottery Heritage Fund: provides grants to sustain and transform the UK’s heritage. This can include investment in museums, parks, historic places and cultural traditions.
R&D tax credits: these are cash payments from the government to encourage companies to carry out research and development projects that relate to science or technology.
New Enterprise Allowance: provides funding and support to those looking to start or develop a business. You need to be aged 18 or over and either you or your partner must receive Universal Credit, Job Seeker’s Allowance or Employment and Support Allowance, or you must get Income Support and be a lone parent, sick or disabled.
The Prince’s Trust: supports young people aged 18 to 30 who want to start and run their own business. As well as providing funding and resources, the Trust also provides training and mentoring.
Where can I find small business grants in the UK?
There’s a range of funding and grant options available for small businesses, depending on where you live in the UK. The regional business grants landscape can be overwhelming and time consuming to search. Use the XFE Business Finance Platform, which includes a grant calendar, and filter for grants by date, industry, country, or county.
Step 1: Register. Head to the ‘grant funding’ section of your account after entering your company information.
Step 2: See your matches. View all available grants that may be right for you, saving you hours of research time.
Step 3: Apply. We then send you directly from our grant finder through to the application page for the relevant grant provider.
Step 4: Continually review your matches. Currently we have over 500 grants on the platform and the tool is updated continually as new grants come to the market. We recommend reviewing your grant matches at least quarterly to ensure you are up to date with the options available to you.
[button title=”XFE Business Finance Platform” link=”https://x-forces.swoopfunding.com/” target=”_blank” align=”center” color=”#e41020″ font_color=”#ffffff” size=”2″ full_width=”” class=”” download=”” rel=””]
Grants hold immense potential as a catalyst for small business growth and innovation. Beyond the financial support they provide, grants offer access to expertise, validation, flexibility, and opportunities to drive social impact. For small businesses with big dreams and bold ambitions, tapping into the power of grants can unlock a world of possibilities and pave the way for sustainable success.
