GRANTS can be a low risk form of finance

What are grants? A grant is an investment in your business, but unlike a traditional investment, a grant does not need to be re paid. Grants are often viewed as: cash in kind, a subsidy, or even a gift in kind.

They are ‘opportunistic’ but may not fund certain types of projects, types or stages of business, but if you are eligible to apply, it is free money. 

Most grants are matched funded, meaning the business is also required to contribute to the overall cost of the project.

Publicly funded schemes are designed to encourage new and growing businesses. To stimulate growth and ultimately create jobs. To help achieve this the government makes available a portion of money to encourage enterprise through business grants.  

Reasons to apply for a business grant. Access to finance is important for growth and productivity. Grants will ease cash flow pressures and investment helps achieve a sustainable business.

Often grants will unleash projects your business may not otherwise afford. Unleashing a new project can help achieve growth or generate new revenue streams. Grants contribute to expansion plans - boost innovation, which in turn helps your business grow. Grants make your investment and your working capital go further. 

What sort of grants are available? Small business enabler grants tend to invest in projects like: web design, marketing materials, training & specialist consultancy support and are easy to apply for.

The Adur and Worthing Small Business Grant is still available, (at time of going press) but apply soon, as the demand is high. The grant offers a maximum matched funded contribution of £2,500, available to local micro businesses (of up to 10 employees). For example, if you want to purchase equipment that costs £1,500, you can apply for £750 from the grant fund and source the additional £750 needed from your own funds. You must be able to demonstrate how the project will impact growth, help generate revenue or improve productivity or efficiencies. 

Larger grant contributions of £10k plus, impose stricter criteria. They are often for capital Investment projects, such as: New equipment, premises & transport. The funder will ask for supporting evidence how the investment will impact growth and new employment opportunities.

There is a substantial grant designed for rural businesses wanting to diversify or make a capital investment. Available to rural businesses who trade mostly across the South Downs, from £2,500 to £75,000. This grant is a 40% matched funded contribution.

Where do I go to source a grant for my business? Business Navigator is a government funded business support service that is free and impartial for businesses to use. To find out more, call your Business Support Navigator, Ryan Davies: 0800 977 4146 E: Info@c2cbusiness.org.uk or search our web site. www.c2cbusiness.org.uk