20 Grants Available for Small Businesses in the UK 2023
Grants are issued to help SMEs especially small and young entrepreneurs succeed in their business ventures. They are a way of encouraging people with innovative ideas by helping them finance some or all of the expenses required for their startups. The UK gives huge support to small businesses by providing grants that help them grow.
As an entrepreneur starting out, there are limited resources available to you. You might not have enough capital to provide all the equipment you require or be able to hire experienced folks in different sections of your business. Most of the time you will have to merge different sections together to cut costs and perform multiple roles.
However, there are ways you can fund your business and I will be sharing them with you but before I do that, you must note the following to help you form a better decision if you require a grant, or partnership, or should go the way of crowdfunding.
Funding Channels
Applying for grants
By applying for grants, you can get the much-needed financial aid to boost your business. It might be a rigorous way of getting funds for your business but it is worth considering. Later on in this article, we will help you through the process of finding and applying for grants.
Looking for partnerships
You can try to find partners for your business who will be willing to invest in your business. There are Angel investors who might be willing to invest in your idea or business in case you want funds for scaling. This website connects entrepreneurs with investors who are looking to invest in a promising business.
Crowdfunding
You can check for crowdfunding sites like Kickstarter and Indiegogo that allows people to contribute money for you.
Connecting with other entrepreneurs on social groups for entrepreneurs can also help you find ways to crowdfund your start-up.
Contribution from family and friends
Asking for funds from family and friends can also help you get funds for your business.
How to Apply for Grants
- Read through the whole grant information before applying.
- Check for deadlines.
- Before applying for grants, you should check the criteria, make sure you have met all the necessary and required criteria before applying.
- Check for eligibility.
- Get the required documents ready.
- Answer the questions thoroughly and with absolute honesty.
- Describe situations with enough detail.
- Review your application before submitting it. You can ask for help from trusted persons to help you review.
- Make a checklist for all the required documents to make sure you don’t forget any.
20 Grants Available for Small Businesses in the UK
1. Accelerating Thermal Energy Technology Adoption (ATETA):
Accelerating Thermal Energy Technology Adoption is for businesses that produce energy-related products and use processes that enable growth.
It is for SMEs that are active in black countries, Coventry and Warwickshire, Worcestershire, and the Greater Birmingham and Solihull Local Enterprise Partnership areas.
It offers support to not-yet trading companies and trading companies of 1 to 2 years with employees of 0-9 and 10-249.
2. Access to Finance-Greater Manchester and Lancashire
This is a grant for any business that seeks funding for business growth. They will help you to access your financial situation and develop your business plan.
They will also provide Mentoring and coaching for your business and introduce you to possible means to increase your funds.
Help you get connected with the right business investors.
For more info, click here
3. AD: VENTURE – Leads City Region
Provide you with free business guidance and coaching. You can get one-to-one support, Coaching, Networking, Capital grant funding, and incubator office space from them.
It is available to businesses that operate in Craven, Harrogate, Selby, York, Calderdale, Bradford, Wakefield, Kirklees, and Leeds that provide a business-to-business (B2B) product or service.
For more info, click here
4. Advanced Manufacturing Supply Chain Initiative
Advanced Manufacturing Supply Chain Initiative provides Loan funding to small and medium-sized enterprises (SMEs) that are seeking investment. You can apply for loans up to 500,000 pounds.
They must be in the Manufacturing industry and have a maximum of 249 employees.
For more info click here
5. Advanced Manufacturing Technologies to Create, Activate & Automate (AMTECAA)
They will give you access to technologies and tools that will help you produce more. It is available to Manufacturing Small and Medium Enterprises in Black Country, Greater Birmingham and Solihull, Coventry & Warwickshire, and Stoke-On-Trent & Staffordshire LEP regions.
For more info, click here
6. Advanced Materials Characterization and simulation hub
This grant is open to businesses that want to develop new products but need advice and guidance. When you apply, you will get advice on how to deliver a new product that meets market demand and standards.
They are available to businesses in the following cities:
- Greater Birmingham and Solihull
- Black Country
- Coventry and Warwickshire
- The Marches and Stoke and;
- Staffordshire LEP areas.
For more info, click here
7. Better Business Finance UK
Get access to a free directory of all UK finance suppliers to help you fund your enterprise. They will provide free advice, loans, coaching, equity, grant, and expertise. The total funding you can get is up to 20, 000,000 pounds.
For more info, click here
8. Buckinghamshire Business Growth program
Get business advice and grants tailored to help your business scale to greater heights. It is available to all Buckinghamshire-based businesses. You can get up to 5000 pounds when you apply.
For more info click here
9. DEMAND Hub-Data Enabled Medical Technologies and Devices Hub
Provides support to Small and Medium-sized enterprises who wish to center on the medical technologies market. They provide numerous support that includes technician and lab support, digital tech support and clinical studies and trial support.
They are available in the following cities;
- Black Country
- Greater Birmingham and Solihull
- Coventry & Warwickshire
- Stoke-On-Trent &;
- Staffordshire LEP regions.
For more info, click here
10. Compete for Contract Service – UK
Free guidance to help businesses to compete for major contracts. It is open to buyers and suppliers in the supply chain.
For more info, click here
Other grants include:
- CDC Enterprise Agency
- Business Support program – Coventry and Warwickshire
- Business Startup Grant Scheme Mansfield
- Business Solutions – South West England
- Business loans, grants and Funding Scotland
- Centre for research into environmental Science and Technology
- D2N2 Capital Growth Fund
- D2 Business starter programDerbyshire
- FEAST2
- Business Growth Grant-Leicestershire
These grants are available at the government of UK’S official website and aim to help fund the business of entrepreneurs.
Follow the guidelines on how to apply to make a successful application for any grant you wish to apply to.
