Government small business grants and subsidies are available in UK. These are, however, available only to certain categories, such as distressed areas or industries, and young unemployed persons.
This page comes under the section Industry in UK.
Grants are unlike loans in that they usually don't have to be repaid. However, grants are given for special purposes and the givers can scrutinize how you spent the grant money. If you had used it for other purposes, you can be asked to repay it. Additionally, grants typically require that you bring in an equal (or a certain percentage of) amount on your own.
Businesspersons in UK might be eligible for grants from government, regional development agencies, local authorities, Business Link and even from European Union. There are also charitable organizations that provide such grants.
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You can check with your nearest Business Link office whether you are eligible for any grant. Getting the money, however, can be quite tough. Because grants are "free" money that need not be repaid, there would be many grant-seekers. You would have to compete against them for the limited grant money.
Even if you manage to get your hands on the money, you are not all that free to use it. Utilization of grant moneys is governed by stringent terms and conditions. If you contravene any, you can be asked to pay back the money you received, together with interest, which can prove a big financial burden.
The BusinessLink page has clickable link "Finance and grants" and if you follow that link you can get fuller details about available grants. Grants are typically given for the following purposes:
Business Link provides a free service in the form of a Grants and Support Directory where you can check for grant availability.
When you apply for grant, you need to show that your project will specifically further the purpose of the grant. As would be evident from the above, it is not private profit but public interest that grants seek to promote. You would have to convince the grant giver that you and your project have the potential to generate these benefits.
It is a good idea to seek the help of Business Link in preparing your grant application, if you are found eligible for a government small business grant.
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Are you writing a grant application for the first time? Maybe you’re a veteran fundraiser looking to sharpen your grant writing skills. No matter how experienced you are at writing requests for money, people and organizations are not going to support you just because you’re in need.
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