Where To Find Small Business Grants For Your Start-Up

August 30, 2010 · Posted in Green Business · Comments Off 

Grants are given every year for a variety of reasons, from small business start-ups, continuing education, preserving historic monuments, to art. Business grants are usually given to applicants that have a solid business plan, and the more detailed the reports are, the better chance of getting the grant.

When starting up your own small business, the first priority would be to find start-up capital. The best capital to get is the small business grants such as free grants that you never have to pay back, or other types of grants that are more like loans and require repayment with interest.

New business owners and existing business owners are eligible to apply for business grants. There is a wide array of Federal business grants available such as Free Government Money for Minorities, Free Government Money for Women, and Obtain Free Government Money for equipment, rent, offices, expenses and overhead

There are numerous sources to find the best business grants:

* The Catalog of Federal Domestic Assistance is a major provider of business grant money.

* The Federal Register is another good source to help you keep current with the continually changing federal grants offered.

* FedBizOpps is another great resource, as all federal agencies must use FedBizOpps to notify the public about contract opportunities worth over $25,000.

* The U.S. Government’s Grants has its own website where you can find, obtain information and apply for many of the grants that are available.

* Government’s Catalog of Federal Domestic Assistance (CFDA) provides a listing of Government grants and other types of assistance that you can receive.

Federal law mandates that government agencies and private foundations give away over 1 trillion dollars to individuals and businesses. Foundations are required by law to distribute 5 percent of their market value assets or interest income annually, whichever of these amounts is greater, or risk losing their tax-exempt status.

The incentive for giving away grants is great. First, elected officials seeking reelection give away billions in government cash so that people vote for them; second, big corporations save a lot of money in taxes by giving money to foundations.

Another option when starting your business would be to apply for private grants from foundations and corporations. Foundations award grants to businesses that are able to help the foundation reach its long-term goals. In the United States there are more than 65,000 private grant foundations which award more than $20 billion to applicants. Two good resources for private grants are the Foundation Center and the Council on Foundations.

For more on Business Grants visit Small Business Grants. Susan also enjoys writing at Health and Fitness.

Author: Susan Jan
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Government Business Grant Turnaround Support

August 23, 2010 · Posted in Green Business · Comments Off 

Publicly funded support has been readily available for business start ups for many years. But support for businesses in difficulty has usually been much more difficult to find. This article looks at what sources of publicly funded small business financial help exist, and in particular, at government business grant aid for turnaround situations.

There are various forms of publicly funded support for business including schemes such as the old small firms loan guarantee and the current enterprise finance guarantee scheme intended to help businesses borrow from commercial sources; through ’soft’ loans and forms of equity investment usually channeled through enterprise agencies and administered on their behalf by local agencies or smaller venture capital firms; and on to grants which are ’sums of money given to an individual or business for a specific project or purpose’.

Grants, free money or time consuming nightmare?

The first thing to say about grants is that while they do not usually cover all of the costs of a project, they do have the great attraction that so long as you adhere to the grant’s conditions you do not either have to repay it the way you would with a loan, or have to part with a share of your business to an equity investor.

They are normally given to assist in business development and so are usually linked to either investment in new premises or plant and equipment; or to a particular activity such as training or new product development.

So if grants are so attractive, what are the downsides? Businesses can find that the application process can be long and time consuming as well as a bit of a gamble with no guarantee of success.

Simply identifying the schemes that your business may be eligible for can be difficult given the range of grants available and funders involved from local authorities, Regional Development Agencies, central government and European Union funding, to non-government organizations such as the Prince’s Trust, and quangos such as the National Endowment for Science Technology and the Arts (NESTA) or the Carbon Trust; each within their own application process.

Each funder will have its own objectives which will drive the criteria they will want you to meet which can include:

- the size of your business, as some will only be available for micro or small or medium-sized businesses (SMEs)
- your industry, as some schemes will exclude specific sectors while others will be narrowly targeted;
- your location, as designated economic regeneration areas will usually have more generous schemes than other areas; as well as
- your planned use of the funds.

Grants are usually thought of as enabling funding designed to allow a project to go ahead which would not do so if the grant was not available. As a result, very few grants are retrospective (as you have obviously managed to do whatever it is without having the grant in place) so you will need to apply in advance for a grant for your project which can obviously result in a delay in starting if it has to await the outcome of an application.

Again as ‘enabling funding’ few grants provide the whole finance required for a project so you will generally have to arrange to raise the balance of the funds required elsewhere, and you will often be asked to prove this is in place.

In some situations, such as training grants, you may be allowed to count the cost of your or your staff’s time that is contributed towards the project as part of the matching funding ‘in kind’.

The grant may also not cover all parts of your project in which case you will need to arrange funding to pay for these parts yourself.

It is important to also bear in mind that even once a grant has been awarded, it still has to be paid which will often be in arrears once you have submitted proof of your expenditure and often payment. You will need to check your project’s cash flows carefully to make sure you are able to fund the project until the grant cash actually arrives in your bank account.

Given the level of information that can be required, a grant application may be a time consuming activity. The approval process can also be prolonged, is sometimes subject to the availability of the pot of funds (as they do run out), and it may also require you to make business commitments, such as numbers of jobs or location of premises, that can restrict your ability to make changes to your business.

Against this, the substantial sums that can be raised by way of grants mean that in any large project the prospects of obtaining a grant should be investigated.

Business turnaround grants

Moreover, it’s also worth noting that in addition to support for investment in capital projects, some sources of funding can also provide grants in respect of support for salaries and wages over periods of up to two years where jobs have either been secured or saved, which will include turnaround situations and also some business purchases. As a result of the current recession some substantial grants are being made on this basis, on relatively tight timescales as the government is looking to help support sustainable businesses (and the employment they provide).

To access these sorts of schemes businesses should speak to some of the specialist grant advisors who can search the mass of schemes on offer to identify the types and levels of grant for which you may qualify, and then help in managing the application process so as to raise this type of finance as quickly and efficiently as possible.

Of course the information contained in an article like this can never be a full statement of the legal position as the relevant laws are complex and liable to change. This article can only therefore be a general guide as to the issues involved and you should always seek appropriate professional advice on your own particular circumstances before taking any action.

Mark Blayney is a UK Institute for Turnaround accredited business rescue expert specializing in owner managed businesses. For more information on Government business grant aid; a free copy of his 13 Key Steps Guide to managing a crisis and a turnaround; or a free referral to a local expert, contact him at: http://www.turnaroundanswers.com

Author: Mark Blayney
Article Source: EzineArticles.com
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How to Find a Small Business Grant For Your Woman-Owned Business

August 16, 2010 · Posted in Green Business · Comments Off 

A small business grant is more desirable than a small business loan because the funds do not have to be paid back. In saying this remember that a government grant that is awarded for a business means that business cannot make a profit, or rather it will need to be setup as a non-profit. A profitable business will need to seek funds from other sources.

If you are thinking about starting a small business, you may be wondering how you can obtain this grant money and if you qualify for it. There are federal and state agencies that offer help and funding for small start up businesses as well as private foundations. Seeking them out may be a bit of a challenge but if you search diligently you will find them.

There are a few steps you can take to finding a small business grant that will fit your needs. These funding sources can be found by:

1. Doing an online search of Federal and State government websites. State funding is usually easier to find. Most states have an online web site that will help you find local funding as well as business incubators available. These websites will have information listed on what they offer small businesses and the types of funding they can obtain. Often you can apply for the grants online or download the paperwork to get started. Your local SCORE office is always a good source of business information as well.

2. Looking at private web resources that offer small business grants. There are some public and private sources for grant money that is offered for businesses that fall into a certain category such as research, and innovation. A lot of large corporations offer funding for small business and other projects that will help a local community. You can visit these sites online to obtain information on their community development grants, etc.

3. Attending seminars that will help you to learn how to write a grant proposal. Often these seminars know of resources for grant money that is not available to the general public. By attending the seminar, you will not only learn how to write a grant proposal but will be put in contact with agencies that offer grants. Your grant proposal should be professional.

There is much competition for grant money so getting educated on the grant writing process, and how grants work is paramount to increasing your chances of getting one. If your start up business has anything to do with specialized research, technology, or energy, the Federal government may be interested in helping you. The government is always looking for innovative business ideas that stand out from the crowd and help society in general.

There are other grant resources offered from independent sites that relay news and information about foundation grants and private individuals giving funds to small businesses. Be aware however that there are scams out there who do not offer legitimate information. It is best to use legitimate websites when you are looking for a grant as they will have the information that you need to apply for them. Some of these web sites offer information for a one time fee. Beware of sites that offer the information for free. READ their “terms” as some of them have hidden fees of up to 97.00 a month if you don’t return their CD within a few short days. It’s better to use a site that offers a one-time-only fee.

Author: Rebecca Game is a 30 year entrepreneur and owner of Digital-Women.com , an online networking community for women in business. Visit: Small Business Grants

Author: Rebecca Hubbard Game
Article Source: EzineArticles.com
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Government Small Business Grant – What’s Available and How to Get One

August 9, 2010 · Posted in Green Business · Comments Off 

A government small business grant is more easily available than other forms of loans. This is because grants unlike loans do not require collateral or any other form of security. There are many thousands of dollars available as government small business grants which can be used for starting a new business, can also be used to clear off previous debts. Grants are also available for clearing off debts incurred due to specific reasons like health care, education, business expenses etc.

There are many facets involving a government small business grant. In this article we will try to shed a little light on each of these. Just remember in applying for a government grant you are dealing with government bureaucracy. The application process can seem daunting to say the least. It is crucial to have some form of help in understanding how to properly fill out the correct documents, and how to even contact the right agency for the specific grant you are desire. A quality grant writing kit is essential in this task.

Understanding a Government Small Business Grant:

Government grants are different from commercial loans. The first thing that is very important for you to understand is that these grants are not like commercial loans. Where you borrow money as loans, it becomes a legal obligation for you to repay the same at a certain rate of interest within a set period of time. On the other hand, once you acquire a grant, you may not necessarily have to repay the grant. That is the reason why a government small business grant is often described as “free money”. Another big difference is that where loans can be easy to obtain, government business grants can be much, much more difficult to qualify for and acquire. There are strict conditions and criteria that you will need to fulfill in order to qualify for federal government grants. These conditions include basic factors, such as the targeted sector and the nature of your business. These grants may not necessarily be offered by a government department alone. There can be many public and private organizations and institutions that can help you in this quest. If you need capital to start a new small business or expand an existing one, you may qualify for grants at the local and state government level.

Alternatively, you can also contact small business institutions such as the small business association (sba). Government grants are almost always awarded for a specific purpose or project. There are also strict terms and conditions that apply to all grants. If these aren’t followed, immediate repayment of the grant can be required. However, generally you do not have to repay grants or interest on them unless you break the conditions set forth in the contract.

How to Apply:

To acquire a government small business grant is thought to be difficult to qualify for and obtain, but this is a myth. There are of course a couple of tips you need to follow in order to submit a successful application, but provided that you follow these basic steps, you should be able to obtain finance from the government without too much stress. What discourages most applicants is the fact that the application for a government grant might sometimes be lengthy. The fact that the process is long does not mean that it is difficult or that the requirements are harsh, but it can indeed be discouraging. In our modern society time is something most people do not have, and in most cases, it is due to the fact that they do not plan ahead. If you are convinced that you want government finance, be prepared to wait and be patient. The key to a successful government grant application is not a big mystery. The key is knowing who to contact and what process to complete. The average person will need help in writing a quality and accurate grant application. That is why it is necessary to purchase a quality grant writing kit, or hiring a grant writing professional to do it for you.

For more information on a government small business grant and quality grant writing kits visit: http://www.USGrants4You.com

Wendell and Charmayne Vannatter
Website: http://www.USGrants4You.com
WCV Marketing is dedicated to helping people create their own home based online marketing business. The ideas presented here will help the average person to create a profitable online in-home business. Using the ideas and tips in these articles anyone can create a successful home based business even in these times of recession.

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Government Business Grant – Who Qualifies and How to Apply

August 2, 2010 · Posted in Green Business · Comments Off 

Government grant money is available today for most businesses. Even start up businesses may qualify for a government business grant. The sad truth is; most people who would qualify for a government grant will never know because they are afraid to apply for one. There are many horror stories of people who have tried to apply for a grant and failed, and yes that is the truth. These stories keep most people from ever trying to apply for a government grant. The reason those people failed to receive a grant from the government is not because the money is not available, but simply because the person did not know how to properly apply for the business grant. We will try to clear that part up today.

Who Qualifies for a Government Business Grant:

The use of a government grant is very wide reaching, and can cover the most basic issues of a business such as start up costs, money towards child care, money towards purchase of a building site or business location. The grant may also cover other issues which may not be readily apparent but which still have a major effect on your business such as an employee being required to serve a tour of active military duty. Whatever the reason, a government business grant is an excellent way of reducing the strain that businesses so often find themselves in. Another little known fact is this; there is no limit to the number of grants an applicant can apply for or receive. The old adage of “you never know, until you try” rings especially true in this regard. Recently, the government has introduced and made available a large number of different grants to encourage business and industry to be more environmentally friendly. The government is desiring to offer grants for more efficient and less polluting machinery and production methods. This would mean that polluting businesses can become “greener” and at the same time is able to reap the benefits of a well deserved government business grant.

How To apply for a Government Grant:

As we mentioned earlier, a business grant can be difficult to receive. Not because the money is not available, but because the applicant filed the wrong forms or improperly filed the correct forms. Yes the government is a huge bureaucracy and you will not change it, you just need to know how to follow their rules. You can hire someone to write your grant application for you, such as a professional grant writer, but this is very costly. Most small business owners do not wish to spend that kind of money. The best and most efficient way to write your own grant is to purchase a grant writing kit. A quality writing kit will list all grants available. They will also have templates specific to the type of grant for which you are applying. Many will come with software which makes grant writing very simple. The fact is, the average person with no grant writing experience will not be able to successfully write their own grant. But a great many people today are receiving government grants with the help of a grant writing kit.

For more information on applying for a government business grant visit; http://www.USGrants4You.com

Wendell and Charmayne Vannatter
http://www.USGrants4You.com

WCV Marketing is dedicated to helping people create their own home based online marketing business. The ideas presented here will help the average person to create a profitable online in-home business. Using the ideas and tips in these articles anyone can create a successful home based business even in these times of recession.

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An Insight Into Small Business Grants

July 26, 2010 · Posted in Green Business · Comments Off 

Business grants for starting a small business are difficult to get in the United States, particularly for the profit-oriented business organizations. The most usual form of financial aid for such enterprises is loans that are provided by the federal, state governments and many public organizations. Business grants are available for very specific type of business activities and the primary sources for them include:

1. Small Business Administration (SBA) The U.S. SBA extends most of its grants to non-profit organizations. The other beneficiaries include some lending institutions and a few state governments. It usually doesn’t extend grants for staring or expanding upon a functional small business. Most of the applications sent to the SBA seeking a grant for starting a small business are diverted to the loans section. However, it does provide some financial assistance but to a very restricted extent. However, small businesses are encouraged to seek SBA’s help in seeking better business management tools and technical help.

2. Federal Domestic Assistance (FDA) Business grants are available for small businesses through federal funding also. Those who fulfill the eligibility conditions laid down by the FDA program should search for grants that are mentioned in the Catalog of Federal Domestic Assistance (CFDA). Key resources to use when searching for federal grants for starting a small business include:

  • Grants.gov (a comprehensive website)
  • CFDA – Catalog of Federal Domestic Assistance
  • SPOC – State Single Points of Contact

Usually an updated list of the federal grants is listed on Grants.gov. Small-scale entrepreneurs should register here and get their DUNS number. This helps in forwarding a formal online application.

3. State Business Grants There are some specific grants that have been introduced by various states, catering to the need of small businesses.

Example: Technology & Market Assessment grants are provided in the state of Arizona. These grants covers expenses for filing patents, commercialization or tying up with partners. Getting these grants isn’t very easy as the technology mentioned in the application is reviewed and put through a competitive analysis method. The potential of the business in terms of being marketable is strictly scrutinized.

Condition – this grant caters to small companies that have less than 100 employees or revenues of less than $4 million.

4. Small Business Innovation Research (SBIR) The SBIR program is dedicated to the upliftment of domestic small-scale business set-ups. It is aimed at encouraging smaller enterprises in undertaking more research-oriented or scientific development-based activities. A new addition to the SBIR initiative has been in the form of Small Business Technology Transfer (STTR) Programs. SBIR identifies research-based small businesses that have a potential for engaging in profitable commercial activities and extends financial aid in the form of business grants. Its special area of focus includes small businesses that are:

  • economically-disadvantaged
  • women-owned

5. Grants for Non-profit Organizations Business grants are available for non-profit organization and SBA is one of the biggest contributors. Examples of other such grants include the National Endowment grants for the Arts and the SBC Excelerator grants for non-profit organizations that help to integrate technology in the disadvantaged section of the community.

Government grants are a great way for a small business to get off the ground. For many entrepreneurs like yourself, loans and outside investments just aren’t an option. There is more help for available: Government grants for your business [http://www.your-government-grants.com/category/business-grants]

Author: Chris Hansen
Article Source: EzineArticles.com
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Free Minority Business Grants

July 19, 2010 · Posted in Green Business · Comments Off 

Minority business grants can offer you great opportunities to change your future. The United States government offers billions of dollars in grant money every year to minorities. The two most common types of minority business grants are black owned business and women owned businesses.

Business grants were shaped to offer financial assistance to entrepreneurs and business owners, to help stimulate the U.S economy. These grants are like government thank you gifts to entrepreneurs for being the backbone of the U.S. economy.

Business plan competitions and essay-writing contests are also great ways to get minority business grants. Even businesses owned by an person or people with poor credit can get grants for a business. Business owners and start up entrepreneurs with poor credit who want to start a new business or need some ‘bridge capital’ to help assist in expanding an existing business are provided an exceptional opportunity to help turn around and improve their financial situation.

Everyday, black-owned companies every single day are awarded business grants. These grants are the ideal way for black entrepreneurs to fulfill their dreams of becoming business owners. You can get anywhere from $5,000 to $25,000 in grants that don’t require repayment. Fewer than five percent of black owned businesses even apply for these minority business grants.

Minority business grants for women are also an exceptional resource for female entrepreneurs. There is approximately $20 Billion dollars in grant money available to women owned and operated businesses. Women owned businesses are also shown to produce a higher success rate than male owned businesses. Minority women businesses have the highest success rate of all. If you are a woman and/or a minority woman, applying for and being awarded a grant can be a boon to your business.

Once you have some funding behind your business, you not only show that your business was solid enough to command grant money, this money can be used to assist your company in producing an income, thus making you more attractive to the bank for an SBA loan to even further grow your business. Minority business grants information is vital to helping you thrive in your business. You will need to do some ‘groundwork’ before applying for grants. You will need a business plan.

You will also need a financial plan, complete with an Assets and Liabilities statement, budget forecast, and Profit and Loss statement. You also want to have on hand three previous years tax returns, both personal and business. Finally, your personal credit report, and business credit report if you have it. Once you have this information gathered, you are ready to begin your search and application procedure for finding minority business grants.

Find out what minority business grants are available to you right now. Get a check in as little as 7 days just by asking for government grants for small business

Author: Austin Warty
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Small Business Grants – What You Need to Know

July 12, 2010 · Posted in Green Business · Comments Off 

Small business is categorized by its small capital, productivity, manpower and profit. Some of the business start ups are self financed. But most of them are financed by borrowing of money. In order to prevent higher down payment of interest to banks, the Government of many countries provide the small business grant. The business grant helps the entrepreneur to receive the principle amount without having to worry about the future repayment of it.

The business grants help in boosting the growth of small firms since the financial aid received from is a stable and reliable source. Small company grants are mostly obtained from the national Government or from the state or local authorities. Some industrial organizations or established corporations also provide such grants but are not always desirable.

Small business grants provide limited funding. The funding is targeted in specific areas. The main area is principal amount where capital investment is very low or unavailable. Small company grants are also provided for business related to farming, fishery or husbandry. The grant is targeted towards funding for hiring of manpower or for purchasing of new machinery and other equipments. If a separate building is required then the small business grant is directed towards purchasing of the land and constructing of the required structure. For more established businesses, the small business grants provide financing for research and development and improvement of technology. Furthermore, small business grants are provided for businesses with foreign exports to enhance international trade.

In order to avail the grant, a well drafted business plan is submitted to the Government or authority providing the grant. Usually the loan provider is the Small Business Administration. The borrower should clearly mention the areas where the grant money will be invested. It is expected that 50-85% of the grant money should be invested into the business. The business grant is approved subjected to guarantee. Upon approval, the credit analysis is done and the final report is submitted to the business lender. The lender directly disburses the amount to the small business owner. The loan repayment is done on monthly installment basis to the business lender.

In the US, obtaining a grant for start up businesses is rare. It is provided only for selected category of businesses, especially those into higher technology. It is a time consuming procedure for the companies to obtain the small company grants. Hence such start up companies approach major corporations that provide the small business grants.

In UK, obtaining small company grants is relatively easier. The best source for these grants in UK is the Princes Youth Business trust. They provide entrepreneurs aged 18-30 years with grants of 1500-5000. For start up businesses, the trust provides 250 for marketing and research work. In order to qualify for the small business grant, the individual should prove the non availability of capital and ensure that no other organization has provided the required funding. Also the trust should be satisfied with the business plan that has been submitted by the business owner.

James Copper is a writer for http://www.bigstrategies.co.uk

Author: James Copper
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Business Finance – Gaining a Business Grant

July 5, 2010 · Posted in Green Business · Comments Off 

Every new business needs finance when they are first starting up. You will need to buy equipment and your workplace will need to be set up as well as all of your marketing costs being sorted out but it doesn’t just stop here; when you are officially set up and your business starts making money you will need to cover all of your businesses bills and your staffs wages.

When it comes to finance needed to establish your business there are a number of options available to you. One of these options is grant finance. So what exactly is this grant finance? Grant finance is some of the money that is given to individuals or businesses for a specific project or purpose.

Grant finance however only covers part of the cost involved in your business project but the money that is given to you doesn’t need to be paid back. Grants are given to businesses to help with specific aspects of business development and they are available from a wide range of sources such as the Government, European Union and regional development agencies. These business grants are only given to businesses for a specific reason and there are a number of factors that may affect whether you are able to gain a grant such as your business activity or your specific business industry sector, some are also linked to certain geographical areas, which are in need of economic regeneration.

Business grants are notoriously hard to gain and there are only a certain amount that are available to businesses every year so the competition for these business grants is strong, which is why if you are hoping to gain one you need to clearly outline what the grant will be used for and how it will benefit your business as well as how it will benefit your local community. You will also need to clearly show that the specific project you want the money for hasn’t already started to take place and that you are able to put the rest of the money needed for your specific project to the grant money because, as mentioned earlier, a business grant only covers part of the money needed for a specific project.

A business grant will cover between 15% to 50% of the total costs involved in your business project so you will need to get hold of the rest of the money. If you gain a business grant when you don’t have the other half of the money available or you have already started the business project then you will be made to pay the grant back in full as you are breaking the terms of your business grant.

If you are hoping to make an application for a business grant then you need to make sure that you check what grants are available. Also there are a few factors that could affect you gaining a business grant such as the size of your business. Some grant providers will only give you access to a grant if your business is a small to medium business, ideally with less than 250 employees. As well as the size of your business you also have to think about your industry sector. This is because funding can often be limited and subject to restrictions in certain sectors, which are defined by the European Commission. Other restrictions include the location of your business and the purpose of your grant.

If you are going to apply for a business grant it is advised that you make your application well in advance of when your grant is needed as the applications can often take a while to process.

Helen is the web master of Angel Start-ups, experts in all aspects of Grant Finance [http://www.angelstartups.com/articles/showarticles/GrantFinance/1/BusinessGrantsandLoansMeetingtheCriteria.html]

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The Government’s Role in Business Grants in the UK

June 28, 2010 · Posted in Green Business · Comments Off 

If you are looking for business grants to help you start, refurbish, or relocate your business in the UK, your first step should be to research what is available for business grants in the areas you need like start up or relocating to another area. If you have a business you want to relocate to the UK from another country you may need to see if there are any business grants for such a project available.

A business grant is money that usually pays a part of the expenses you will incur in a move, or setting up a business. You don’t have to repay this or give shares in your business. Various places are available to look into for grants: the Government, European Union, Regional development agencies, small business corporations and others in the private sector as well. These grants can be associated with certain businesses, or a geographical location, especially areas in need of economic boosts from new industry.

The Government

The Government helps with grants to businesses and they assist with networking and advice on getting set up and applying for the grants you qualify for as a business. There is a lot of competition for business grants through the Government, so the guidelines and qualifications are exacting. If you meet the criteria then you can apply and hope you are selected for the grant.
Government business grants are usually for projected development of projects that haven’t been started yet. Generally the terms and conditions of the grant will allow you to keep the grant unless you break the agreement you have. Then you will have to pay the grant back.

Matching Funds

Most business grants from the Government also mean you have to get matching funds from another source like a loan or funds from other businesses who are investing in the project. Grants are never 100% of the amount needed; you need to show your own participation and come up with some of the capital needed to invest in the relocation.

Sources for Business Grants

There are several sources for business grants in the UK, such as the Government, regional development agencies, Chambers of Commerce, county enterprise boards and even some colleges have business grants. You have to research by the type of business you have and what your plans are for it before you can apply for a grant. Know what you are talking about before going into the entities you are applying to obtain a business grant from. Any office you are going to see is going to want a precise plan of action right down to approximate dates and the profit projections.

Business grants may take some time to get approved too; it all depends on the timetable of the office you have applied to and how many they are looking at. Not everyone can get approved because there is a limited amount of grant money available. One good tip is having your matching money already in a place where you can show you already have that part of the funding. Be organized and able to answer any questions that might be asked of you, including your personal background. The office you apply through is going to do a background check before they ask you anything so you have to be honest in your answers. The criteria vary for places you can apply but they will all want to make sure they are dealing with an up front person who is honest in their conviction to the project and will fulfill the agreement and terms of the grant. With a bit of luck and some determination, you should be getting your project off the ground in no time.

John McLean is an Business Development Executive with Locate in Kent. Locate in Kent has helped more than 440 companies relocate to or expand in Kent. The company’s free,confidential corporate relocation service includes information about business grants, sites and commercial property in Kent and Medway.

Author: John J Mclean
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