A deep investigation is needed to find out the startup business grants and small grants for businesses in the UK. Along with searching, you also have to look at the eligibility criteria and other factors of each grant to select the appropriate grant. Although, it seems a tiring process, but it is not something impossible.
Difference between Startup Business Grant and Business Loan:
A small business loan is money lent to you by someone that you have to pay back within a specific time. Contrarily to loan, you don’t have to pay back business grants. Some grants may be provided to you to invest the whole amount in your business.
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Startup Business Grants:
There are a lot of startups business grants for your newborn business based on the industry you want to work. These include:
The National Lottery Heritage Fund:
It supports projects related to cultural heritage like the portrait showing landscape and traditions. It encourages skills development and job creation, boosts the local economy, and supports wellbeing. You can get more information about this grant here.
Innovate UK:
It is one of the startup business grants that help to develop and support new ideas that are researched based. Find more details about this grant on the government website.
Research and Development tax reliefs:
This relief is for those companies who want to research and develop in advancements in various fields (whether it’s successful or fail). You may get details about this grant here.
For availing of further grants, you can ask local authorities in your area and funding related to your sector. As a part of the coronavirus relief package, local authorities are working with the government for local restriction support grants.
You can visit business finance finder and regional funding portals to search the different types of business grants.
Quick Wrap Up:
This was a quick overview of startup business grants and small business grants in the UK. You can visit the websites of the regional funding portal and business finance finder to search the loans and grants for your assistance.
For more details on business grants, feel free to reach out.
Disclaimer: This blog provides a general overview of small business grants of the UK.