Business Growth Grant Funds Are Designed For Small – Medium Businesses
If you’re running a small/medium business but can’t afford to spend out on a new Website, or maybe a new marketing campaign or help advertising your business then you may be eligible for a Business Growth Grant.
Business Growth Grants are designed to help SME’s with their plans to grow their business by implementing or adopting new business practises or ways of working.
So if you’re looking at getting a new website for your business you can claim 80% of the costs through the grant.
How Much Funding Is Available?
Grants are between £1,500 – £6,000 with you matching 20% of the fund. So for example to receive a grant of £2,000 you’ll need to match it with £400.
What Can It Be Used For?
The funding supports SME’s that are planning on growing but need some help with costs and getting them off the ground.
You can use the grant to;
- Purchase new equipment. Such as IT equipment or new machinery to produce or help with a new product.
- Create new services. Such as a new digital marketing strategy that will help you sell a new product or business service.
- A new website and help improving its search rankings. So whether you’re a new business or not, if you need a refreshing new website you can apply for a grant to cover most of the costs.
- Adopt new processes or new ways of working. Such as adaptations to your premises to accommodate a new production process or operation, such as extra office space for new employees.
All projects should help to increase your outputs or turnover, support new operations or processes to create new employment opportunities or maintain employment. So you can apply for a grant for your own personal gains, but if you needed extra help to grow your business or keep your business being innovative then you should qualify.
What Can’t It Be For?
The grant can’t be used to sustain existing business, such as overheads, salaries or other outgoings. It also can’t be used for consulting costs, so business mentoring/coaching isn’t included.
If you’d like more information or would like to apply then search for your local Growth Hub. If you’re based in or around Bristol you can visit www.wearegrowth.co.uk for more info.
Who Is Eligible?
Business Growth Grants are available to;
- Business from all sectors
- Business of varying sizes, from sole traders to established SME’s. No min turnover or employees.
- The grant is limited to small to medium sized business with a max amount of 249 employees.
- There is no requirement for the business to have property. So trades who work out of their van can still apply.
- You must have at least a min 12 months submitted accounts.
- You must be able to provide 20% of the funding.
How To Apply?
The funding opens on 22nd March 2021, all applications can be done online.
Search for your Local Growth Hub online for more info as each area has specific hubs.
If you’re struggling to find anything feel free to Contact Me and I’ll see what I can do to help.