Start-up business grants
You'll normally need to apply for this type of funding through your local council or business link, who should have a list of what's available. The typical grant is between £500 and £5000, but this varies depending on what you're planning to spend the grant on. The three main factors that effect your elegibility and size of grant are:
Location: If the business is located in an area that is undergoing regeneration, there is often more money available for new business start-ups or newly established small businesses.
Size: Generally, grants only tend to be available for businesses starting up, but the same schemes can apply to newly established businesses.
Sector: The grants that you are eligible for will depend upon your type of industry, and which sectors are currently in favour.
One of the first things you'll need to prepare before applying for a grant, is a full business plan, working out how much money you need to start or improve and whether there is a market for what you are doing. There are a wide array of different schemes available which change all the time, for more information please get in touch and we'll talk you through your options and help you to apply.
Finance and loans
Banks aren't the only source of funding for your small business, we can help you to find other partners or organisations who can often offer better rates and terms than the traditional finance routes. Community Development Finance Initiatives (CDFI) offer loans for specific uses, it could be for marketing, business improvements, expansion or new equipment, but the main advantage over the banking sector is that your financial history (credit score) normally isn't taken into account - the decision is based simply on the case that is put forward to the panel.
Other sources
Many charities and other organisations, such as The Princes Trust, offer help and advice to small business start-ups or new companies, with grants or loans for specific tasks. These are often based on a very narrow sector of people, such as people who are unemployed, or disabled and want to start their own business.
Let qclGroup help
No matter what you want to achieve in your business, it's always worth contacting us to see what the options are, we've worked with businesses large and small to help them secure funding for their projects, so why not give us a call.
NEED HELP WITH THE BASICS....
A series of articles written for people taking their first steps into the world of business - look out for the logos as you explore our blog. If you've got any ideas for what you'd really like us to write about, drop us an e-mail and we'll see what we can do.
