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It’s not getting any easier for business owners to access the grant funding that will help develop their businesses and increase UK growth and productivity. With Innovate Smart Grants not happening for 2025 there has been some disquiet and uncertainty about what if anything will replace them. There is some good news in that the UKSPF scheme will be relaunched in the spring and details of allocations are now available. Grant professionals could look at a wider range of grants to help their clients.
However, the new(ish) government has mooted a more detailed Industrial Strategy and has for example indicated that certain sectors e.g. green technology, creative, financial services will receive more support, but it is now time to come out with further details. At the moment it looks like the Spring Statement on the 26th March for the announcement.
How will this translate into specific grant schemes and promotion to the business community will hopefully be revealed. There certainly needs to be greater awareness of grant scheme availability with business owners as well as the support to get the funding allocated in the right places. Outlining a clear picture of the types of businesses that should be looking at grant funding could widen the net to capture more applications.