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Introduction
According to a 2025 survey by Allica Bank of accountants and their SME clients, 13% of UK SMEs are expecting high growth in 2026 and at the other end of the scale just 6% of businesses predict no growth at all.
In terms of businesses planning to grow, 72% are focused on purchasing new machinery and equipment to help expand, 69% are seeking working capital or cash flow financial support and 32% are looking to invest in digital transformation and software over the next 12 months.
The survey questioned accountants who have SMEs as clients and many believe that small business growth ambition is not being matched by the high street banks. It is the case that 40% of accountants believe their SME clients do not get the support they need from their banks, with a further 48% providing feedback that their clients only get limited support and only 3% feel that their clients are adequately supported.
There is also a concern from accountants in regards to access to SME funding from traditional lenders with 57% questioned stating they are not confident their established SME clients can access the borrowing they need from their current bank to meet their 2026 growth plans.
Businesses looking to find alternative finance to traditional lenders can access growth grants and loans from providers in their local area, such as local authorities and enterprise support agencies. There is still a large amount of Government backed UK Shared Prosperity Fund (UKSPF) funding available in many areas.
What Are Some Of The Latest UK Business Growth Funding Opportunities Available?
i) Business Growth Fund
Gateshead Council, North of Tyne Combined Authority and Sunderland City Council are providing capital funding to businesses looking to expand or establish new operations. Projects must contribute to outcomes including the creation and safeguarding of jobs, improved productivity, adoption of new to firm processes and technologies and an increased amount of capital investment. Funding up to £300,000 is available.
Application Deadline: Applications are invited on an ongoing basis
ii) Growing Places Fund – Business Growth Capital Investment Programme
Hull and East Yorkshire Local Enterprise Partnership are running a scheme providing grants to support businesses to invest in infrastructure, technology, and other capital projects that will stimulate growth and create jobs. Funding up to £250,000 is available.
Application Deadline: Applications are invited on an ongoing basis
iii) Highlands and Islands Enterprise’s Innovation Service
Highlands and Islands Enterprise is providing support and match funding to help businesses get their innovation and growth projects off the ground. Projects could include a process change to improve productivity, adapting a business model to open up new ways of reaching customers, reducing waste and inefficiency to operate more sustainably, or opening up a whole new market through business diversification. Funding up to £100,000 is available.
Application Deadline: Applications are invited on an ongoing basis
iv) Fit For Growth Programme
BIC Innovation Ltd and Wiltshire County Council are running a programme that provides fully-funded support to help innovative, production based SMEs to achieve their ambitious goals as well as match-funded grants to help them adopt cutting-edge digital technologies. Funding up to £50,000 is available.
Application Deadline: Applications are invited on an ongoing basis
v) Economic Development Grant Scheme
Shetland Islands Council is running a scheme providing grants for businesses to help them fund projects that will enable them to grow. Eligible costs can include, but are not limited to, buildings, new equipment and salary costs. Funding up to £25,000 is available.
Application Deadline: Applications are invited on an ongoing basis
vi) Capex Grant
Business Doncaster is providing funding to support growth projects that fall outside of the UK Shared Prosperity Fund’s Productivity, Digital, and Low Carbon criteria. Applicants must demonstrate how the funding will help create new employment opportunities, develop new products, processes, or services. Funding up to £25,000 is available.
Application Deadline: Applications are invited on an ongoing basis
vii) Recovery and Growth Grant
West Dunbartonshire Council is running a scheme that aims to support business recovery and growth projects which will safeguard and/or create local jobs. Funding up to £10,000 is available.
Application Deadline: Applications are invited on an ongoing basis
viii) Scale-Up Grants
Mansfield District Council is running a scheme that aims to accelerate the growth of high-potential businesses, contributing to increased productivity and job creation within the district. Businesses need to aim to get a projected increase in productivity of at least 10% over a 12-month period. Funding up to £10,000 is available.
Application Deadline: Applications are invited on an ongoing basis
How To Apply For Business Growth Funding Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, who can apply and what eligible costs the grants will cover will also be outlined on these pages. Interested individuals and businesses can speak to growth funding advisors based at each provider who can guide them through requirements and eligibility criteria to see if the relevant funding is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Latest UK Business Growth Funding Opportunities?
If you want to see the full set of UK business growth funding currently available, please visit https://getbusinessgrants.com/