With the current economic climate and job hunt market as it is, it is good to know that there are Government schemes that provide support to small businesses and funds to start up businesses trying to get off the ground. The advantage of grants that assist businesses is that often they do no need to be paid back however finding and applying for them is another matter.

Websites and advisory centres such as Business link can help point you in the right direction. When looking for a grant, you will notice that most have eligibility criteria that must be fulfilled. If your company does not fulfil that criterion, the application will likely not be considered. Aside from looking for the right eligibility, each grant provider will have its own requirements and will consider an application based on these. They may be specific to the region, industry or expertise; the requirements may also restrict how you use the money. Another thing to remember is that there will be quite a fierce competition with a lot of other applicants. You will need a good business plan and be able to promote your business well to encourage investment. [Read more...]