The state of UK business grant funding
Here is the latest roundup of the new grants and funding schemes for UK businesses that were released in June 2021.
Total number of new grants and funding schemes added in the month:
Over the past month 303 new schemes were added to Xsortal, bringing the total number of Grants and Funding Schemes available to 3,889. Businesses in the UK have access to a pool of Grants and Funding Schemes worth £1.6 billion allocated across 10 funding purposes.
This month COVID related support grants made up 32.7% of the total added up and were responsible for a significant chunk of the support available for businesses. A lot of these grants were related to a continuation of a number of different reopening the economy Covid support schemes administered by UK local councils. There were also a number of Horizon Europe schemes that launched this month through the latest tranche of funding that UK businesses are eligible to enter as an upcoming association member after leaving the EU.
New schemes added by region
- Top Regions: Yorkshire and the Humber (125), North East (123) and South East and South West (both 119) saw the most funding schemes added this month
- Bottom Regions: Northern Ireland (97), Wales (105) and East of England (111) were the areas with the least new funding schemes this month
Funding added by region
- Top Regions: West Midlands (£601m), East Midlands, East of England, London, North East, North West, South East, South West and Yorkshire and the Humber (all on £599m) saw the highest funding levels this month
- Bottom Regions: Wales, Scotland and Northern Ireland (all on £99m) saw the lowest funding levels this month
New schemes added by sector
- Top Sectors: Professional, Scientific & Technical (158), Manufacturing (133) and Agriculture, Forestry, Fishing (118) were the sectors which saw the most schemes added this month
- Bottom Sectors: Electricity, Gas, Steam and Air Conditioning (101), Financial & Insurance and Public Administration, Defence & Social Services (both 102) saw the least schemes added this month
Funding added by sector
- Top Sectors: Construction (£555.1m), Professional, Scientific & Technical (£99.8m) and Manufacturing (£69.7m) were the sectors that saw the most funding added in the month
- Bottom Sectors: Electricity, Gas, Steam and Air Conditioning and Public Administration, Defence & Social Services (both £55.14m) and Wholesale & Retail Trade, Repairs (£55.15m) were the sectors that saw the least funding added in the month
New schemes added by business type
- Top Business Types: Small Business (176), Medium Business (168) and Large Business (91) were the business types eligible for the most schemes during the month
- Bottom Business Types: Academic (0), Research Organisation (4) and Start-ups (21) were the business types eligible for the least schemes during the month
New schemes added by amount available
Top Funding Bands: £1-£9,999 (63), £10,000-£24,999 (22), £25,000-£49,999 (12) and £1,000,000-£9,999,999 (14) were the funding bands with the most schemes falling into them this month
Bottom Funding Bands: £100,000-£149,999 and £500,000-£999,999 (both 1) and £200,000-£249,999 and £250,000-£499,999 (both 2) were the funding bands with the least schemes falling into them this month
Reason for Funding Band Distribution: Due to the high level of businesses that need financial support to help them with the continued phased re-opening of the economy from Covid restrictions, funding is highly concentrated within the £1-£9,999 and £10,000-£24,999 brackets. Most of these are in the SME sector needing the most support and receiving on average thousands or tens of thousands each. The Government has to focus the bulk of the funding pool allocation on this until businesses can make a recovery and sustain themselves as the UK continues to safely come out of Covid restrictions.
To keep up to date with the latest Grants available for your business