Securing a grant can make a real difference for small businesses looking to grow, innovate or get started. Unlike loans, grants don’t usually need to be repaid, making them an attractive option.
Innovate UK Grants
Innovate UK offers funding for businesses developing genuinely new ideas or products with real market potential. These grants are typically awarded to support research and development in sectors like technology, science or engineering. In addition to financial help, recipients may gain access to expert guidance and business mentoring. NI Business Info explains the purpose of business mentoring.
Research and Development Tax Credits
R&D tax credits are available to companies involved in qualifying scientific or technological projects. This government scheme allows businesses to claim tax relief or receive cash payments, even if they’re not yet making a profit. It’s designed to encourage innovation and help companies-often with the support of business accountants Oxford like www.hazlewoods.co.uk/expertise/business-accountants/oxford. They can help recover some of the costs associated with research, testing and development work.
Regional Growth Funds
Regional growth funds are designed to support local economic development across different parts of the UK. These grants often focus on job creation, infrastructure improvement or business investment in specific areas. Funding availability and criteria vary by region, so businesses are encouraged to explore opportunities offered by local councils.
The Prince’s Trust Enterprise Programme
Aimed at young people aged 18 to 30, The Prince’s Trust Enterprise Programme provides funding and practical support for those starting a business. It offers a mix of financial backing, training and one-to-one mentoring, helping young entrepreneurs build confidence.
The National Lottery Heritage Fund
This grant is available to projects that aim to preserve or promote local heritage, whether that’s restoring historic buildings, organising cultural events or supporting community heritage initiatives.
Local Enterprise Partnerships, LEPs
LEPs are partnerships between local authorities and businesses that provide funding and guidance tailored to regional needs. They support projects that contribute to economic growth, such as business expansion, training programmes or infrastructure improvements.
Grants like these can offer small businesses a valuable boost towards long-term success and sustainability.
