What can small business government grants be used for?

Small business government grants can be obtained from many sources including local enterprise zones, business link, charitable organisations and many more. In the current economic climate, there are 'pots of funding' available, particularly for entrepreneurs who are wishing to set up their own business. The following grants can be sought after for business start up.

A direct grant is a cash award which can pay for training, recruitment, capital investment or export development. In order for it to work, the business owner is required to fund 50% of the overall cost of training for example. The grant will then cover the remaining 50%.

Repayable grants are finances awarded to business owners to help them get a company up and running. Once established, the grant is repaid, but if the project fails, then the company will not pay anything back.

Other grants available can help business start up and funds can be used to purchase equipment or materials. Builders for example can seek funding to purchase transport, tools and even materials to help them get started. When set up, new businesses can also apply for funding for advertising and marketing campaigns whether these are undertaken online or offline. With an internet business, there may be funds available to help set up a professional website and pay for Search Engine Optimisation services, internet marketing and advertising. The opportunities for funding are plentiful, so consult your local enterprise zone or Business Link or even charitable organisations such as the Princes Trust to find out whether you are eligible.

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