Finding small business grants in the UK can require investigation, with eligibility depending on a whole range of factors – but that doesn’t mean it’s impossible to find sources of small business funding you don’t have to pay back.
Download your free in-depth guide to UK small business grants. Get instant access to expert hints and tips in the click of a few buttons.
Here’s a list we put together to help take some of the initial research effort out of applying for a grant.
A small business loan is money for your business you’ll have to pay back within an agreed timescale. This is different to a small business grant, which you won’t be expected to pay back.
Some grants will be offered on the basis that you must also invest the equivalent amount in your business. For example, if you’re given a £10,000 grant, you’ll need to have £10,000 to invest too.
Just answer a few quick questions about your business and we'll tell you which financial support schemes you may be able to accessStart now
A range of startup business grants are available depending on the sector you want to go into. For example:
The Lottery Heritage Fund supports heritage projects ranging from designed landscapes to cultural traditions. Learn more.
Innovate UK provides government grants to “develop and realise the potential of new ideas, including those from the UK’s world-class research base”. Learn more.
Research and Development tax reliefs support companies seeking to research or develop an advancement in their field (even if the project is unsuccessful). Learn more.
You can also enquire with your local authority about grants available in your region and funding specific to your industry. The government’s business finance finder and regional funding portals mentioned below are a good place to start your search for this type of business grant.
The Prince’s Trust supports young people aged 18 to 30 to start and run their own business. Besides funding and resources, they also provide training and mentoring.
In response to the Covid-19 pandemic, they’re going the extra mile to support young business owners. Working in partnership with NatWest, they’ve set up a £5 million Enterprise Relief Fund, offering grants to self-employed people and business owners aged between 18 and 30 in the UK.
Besides the financial support, recipients of the grants will also get one-to-one business support and guidance.
To be eligible, you need to have set up your business within the last four years and not have any other source of income during the pandemic.
For more information and details of how to register your interest, visit the Prince’s Trust website.
The New Enterprise Allowance gives you mentoring and an allowance if you want to start, or develop, a business. To be eligible, you’ll need to be over 18 and either:
Your mentor will need to approve your business plan. After that, you may get an allowance of up to £1,274 over 26 weeks. You should speak to your Jobcentre Plus work coach if you want to apply for the New Enterprise Allowance to help start or develop your own business.
You can get financial help from the government to train an apprentice in your small business.
If your pay bill is less than £3 million a year, you won’t pay the apprenticeship levy. This means you get five per cent towards the cost of training and assessment for your apprentice, if the apprenticeship started on or after 1 April 2019.
The government pays their 95 per cent share directly to the training organisation. You also pay your share directly, according to a payment schedule you agree with the training organisation.
Use the government’s enquiry form to ask the National Apprenticeship Service about the funding available.
Covid-19 has had an impact on small businesses and the self-employed unlike any other most of us have seen in our lifetime. The data tells us 67 per cent have been forced to temporarily stop trading, and almost half expect to lose up to £10,000. Worse still, two-fifths are at risk of having to permanently close their business.
But thankfully, people who work for themselves are resilient. Research suggests 75 per cent intend to continue or restart their business, with a further 10 per cent even planning to take the leap and start a new one.
We think this resilience deserves recognition.
So, to help one hard-working small business owner bounce back, we're giving away a £10,000 Business Boost.
Other financial help available to your small business will depend on where in the country you’re located, the size of your business, the industry you’re in – and whether you’re looking for business startup grants or funding to grow your business.
You can use the government’s Finance and support for your business online tool by selecting the ‘grants’ tick box. You can also filter by how long you’ve been trading (useful if you’re only looking for startup business grants), industry, number of employees, and region of the UK.
There’s also more information on the grants available in the different nations of the UK on the following portals.
The Local Enterprise Partnerships (LEP) Network website lists the 38 regional Growth Hubs. They’ve been set up to provide business funding, support and guidance in their local areas.
They make it easier for business owners to find the support they need by bringing together all of the available national and local business support in one hub.
If you’re located in Scotland, you can apply for a business grant from Scottish Enterprise on the following basis:
The Established SMEs Funding section of Enterprise Ireland lists several ways you can get financial help for your small business if it’s alrerady up and running and you’re based in Northern Ireland.
It also offers High Potential Start-up Finding if your business idea has “the potential to develop an innovative product or service for sale on international markets and the potential to create 10 jobs and €1m in sales within 3 years of starting up.”
If your small business is located in Wales, you can use the Welsh government’s Funding Locator to find and apply for various grants. Sources of funding include:
We know it's difficult to start or run a small business at the best of times, and that challenge has increased since the coronavirus outbreak.
That’s why Simply Business are giving away a £10,000 business boost to help someone get started – or get going again. Find out more and enter below.Enter now
12 March 2020 • 2-minute read
Chancellor Rishi Sunak announced the first UK Budget since October 2018 amid continuing political and economic uncertainty. Here’s the key…
6th Floor99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2020 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.