Business Grants are non-repayable funds given by one party, often European Union, Government, Corporation or Foundation. To another – a business, or non-profit organisation. For a company to receive a grant, first the organisation has to find a suitable fund, write a proposal or application. When applying the applicant will need to meet the requirements of the particular fund, have some form of project in mind, for example, Business Growth, Lowering Carbon Emissions, Investing In Business Premises and more… There will often be requirements that the recipient will have to meet, for example, the creation of jobs, primarily when a grant is required for Business Growth.
Business Grants can vary from region to region, so for example, whatever support is currently available in Yorkshire might not be the same as Warwickshire, for instance. Funds also come and go, once a fund has run out of money it will close until new funds become available, some funds can end entirely while others close while they wait for further funds to come available. It can be a time-consuming job keeping track of this, as well as running a business.
The grant writing process involves the applicant submitting some form of a proposal to the potential funder. This application will often need to be accompanied by supporting documents such as past accounts and financial forecasts. Often a time-consuming process for a business owner. The application will need to demonstrate that a project is a suitable match for the fund and will result in the appropriate output within specified time limits.
If you would like to find out more information then do not hesitate to contact us, we can help advise and point you in the right direction. Our grant finding service can help you discover what funding could be available for your business, and we are also able to help you apply, saving you both time and effort.