Why Small Business Grants Could Be Your Organisation’s Saving Grace

Did you know that the government spent more than £258 billion on grants in 2020? Some of those grants were for education, while others were small business grants, and the rest fell in between.

With our current market, it can be difficult to find funding and know how to stay in business.

With this guide, we’ll go over what you need to know about small business grants and how they could be the saving grace for your organisation.

How Can I Get a Grant for My Small Business?

With so many different grants out there, it’s important to do the research first.

Most grants have very specific requirements that must be met in order to get the grant. For instance, some grants require that you be a woman-owned business with less than 15 employees with a strict focus on sustainability.

If you do not have that type of business, you cannot get that grant.

However, after enough research, you should be able to find plenty of grants that will meet the requirements of your business. 

There are some grants that come with stipulations as well. For instance, a lot of tech grants that are given out or research grants used for small business funding require that the findings of the research be shared with local or state governments.

Be sure to read the fine print and through the entire grant before applying so you know what you are getting into.

Where to Look for Small Business Grants in the UK

There are several places to look to find a small business grant. You can easily do a Google search to see which you may qualify for.

You can also go to the federal grants website to search for more available grants as well. There are also possibly grants on different university and college websites, so be sure to check for the specifics with the different websites when you are looking.

Benefits of Small Business Grants

If you’ve been looking into getting a grant for your small business, there are plenty of benefits. Here are just a few of them you could benefit from.

Free Money

For starters, getting small business funding through a grant is basically receiving free money. You don’t need to repay a grant like you do a loan, so whatever money you get from the grant, you can use it for your business as you wish.

Since some of the grants give a large sum of money for small business funding, this can really help with different endeavours you may have for your business.

Easy to Understand Info Behind Small Business Grants

There is a lot of information out there about small business grants, which makes it an easier outlet to understand and do research on for your business funding.

Instead of feeling constantly confused and lost about what you have to do with your small business to get more funding, you can easily search to find the answers.

The multitude of research makes it more accessible for your small business and makes it easier to stay in business.

Gives You More Credibility 

When you receive a grant, it actually becomes easier to receive another one after. That means that putting in the work to get the first grant will allow you to keep getting more funding for your business.

Grants can also make your business more known, which will most likely help you stay in business and grow larger. Instead of just benefiting from the money of the grant, getting a more popular-known grant will put your business name out there to gain popularity for your business.

You may get more customers this way.

Can Help With Your Business’ Sustainability

Depending on the type of business you own, you may be able to increase your small business’ sustainability with the help of a governmental grant.

While this may differ based on the type of business you have, there is plenty of research done on the subject for you to figure it out. 

If you do go this route, there are a few things your business could get out of these grants. They are

  • Better and more sustainable equipment
  • Matching funds for energy-saving projects
  • More savings on utilities and energy for your business

Are There Any Cons of Using Grants for Funding for a Small Business?

While there are plenty of advantages and benefits of getting grants for your small business funding, there are also a few cons to be aware of. Knowing these will help you make an educated decision before applying.

For starters, applying for a grant can take a lot of time. This is partly because the application process is extremely tedious, but also because the grant approval process can take some time as well.

You need to show the justification behind why you deserve the grant as well as compete against other businesses that are applying for the same grant (and may deserve it, too!).

Whichever grant you do get, you will need to pay attention to the contingencies and any rules they have.

Small Business Funding Through Grants

Small business grants are one of the best ways to get funding for your small business. These can help you stay in business and meet goals you may not otherwise be able to make.

If you are looking for even more opportunities, be sure to check out our website. We have plenty of information for you as well.

Facebook
Twitter
LinkedIn
WhatsApp
Understanding the UK Cyber Ecosystem
Cyber
Holly Thompsett

Understanding the UK Cyber Ecosystem

With more than 3.5 billion fans worldwide and 250 million players spanning 200 countries, football takes the trophy for the most popular sport in the world. It’s no wonder that the World Cup draws millions of people to whichever country hosts it every four years.

Read More »
Why Blue Light Tenders Are Lucrative for Public Sector Suppliers
Defence Contracts Online (DCO) Archive
Holly Thompsett

Why Blue Light Tenders Are Essential for Public Sector Suppliers

With more than 3.5 billion fans worldwide and 250 million players spanning 200 countries, football takes the trophy for the most popular sport in the world. It’s no wonder that the World Cup draws millions of people to whichever country hosts it every four years.

Read More »

Why Small Business Grants Could Be Your Organisation’s Saving Grace