Your journey to getting a Grant
This infographic outlines what it takes to get a Grant.
Grants get business owners excited because they're seen as money for nothing.
While you don't need to pay the money back, there's a lot of hard work involved not just in the application but also on an ongoing basis.
Step 1 - Finding a Grant you're eligible for
There are hundreds of Grants in the UK which all serve a different purpose.
- Regional Grants - Some Grants are specific to regions and are usually provided by local government.
- Sector-based Grants - Sector specific Grants are common, especially in the Energy and Innovation spaces.
- Business Stage Grants - Depending on the stage of your business, there are different Grants available, particularly for early-stage and start ups.
- Export Grants - There are government Grants available to guarantee loans for businesses looking to export.
Step 2 - What Grant providers want to know
Each Grant and Grant provider has its own set of eligibility criteria and are clear in what they want to see in applications.
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Make sure your business is eligible
- Follow application instructions to the letter
- Get your application in on time
Step 3 - What you need to know about Grants
Grants have specific ways of providing you with funding and support if your application is successful.
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You may need to match the value of the Grant before you can access it.
- You could be reimbursed costs in the form of the Grant rather than getting funding upfront.
- Grants sometimes come in the form of vouchers and discounts from suppliers.
- Your Grant may have conditions for how the funding is spent.
- Your Grant may come with its own reporting requirements.
Did you know? Just 3% of UK SMEs are currently using a Grant
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