features
learn about business
finance options
quick enquiry
A Guide to Business Grants
One of the best possible ways to raise finance for your business is by securing a business grant. A grant may enable you to undertake research and development, carry out market research, get accountancy or legal advice and put into practice your marketing plan.
The logical starting point when looking for a business grant ids to be very clear in your own mind as to exactly what you need the funding for. Then, prepare an effective, unique and enthusiastic business plan that directly supports your ideas and need for funding.
Now search for local sources of funding. Your local council’s economic development department, your local enterprise agency and Business Link http://www.BusinessLink.gov.uk are the logical staring points to research the potential for support in your local area. Give them a call and find out what kind of thing they’re prepared to support in what way – and what the exact procedures are. Also, don’t be afraid of asking them directly what factors are most likely to make your application a success.
Remember that potential funders will want to be 100% certain that the only way you can realistically move the idea forward is with their support in the form of a business grant. So you need to be sure of ground here. If you were standing in their shoes, would you give “you” the money – or would you think it could be raised elsewhere by more conventional means? What really sets your application apart?
If you don’t get a business grant – don’t despair. If your idea is good enough, there’s more than one way to skin a cat. Talk to the experts to see if you will be able to raise business finance by other means.
And good luck!