Does Your Small Business Qualify For Grants and Funding?

Do you have a business that is in need of financial help to be able to relocate or invest in products that will help your business? Most grants and funding which is available for businesses in the U.K. are directed at partnerships and limited companies as well as sole traders.

Grants can be awarded by a number of sources including the U.K. Government, local authorities and councils, local enterprise agencies, regional development agencies and even the European Union. If you are looking for business grants and funding, it is best to start locally and see what your local authority offers. Then, move onto national schemes/government funding options to ensure that you get the most financial help possible.

Grants tend to be specifically designed to help with different aspects, for example, relocation costs, investment in machinery or a production plant. Unfortunately, you will not be able to apply for a grant and use it in any way that you wish, there are restrictions. There are different types of grant for different sectors of industry e.g. agriculture, manufacturing.

Grants tend to be dependant on the size of the business applying for financial aid. If you have a small or medium sized business, you are more likely to be awarded financial aid to help business growth. As defined by the HMRC (HM Revenue and Customs), a small or medium sized business is one that has less than 250 employed staff, an annual turnover of less than £50 million and have less than 25% capital owned by a large company.

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